The NRP Group has broken ground on a 368-unit mixed-income community in Killeen, Texas. The developer has teamed up with The City of Killeen Public Facility Corporation (PFC), J.P. Morgan and Texas Capital Bank to deliver the project. Initial lease-up will begin in early 2023, and the property is slated to deliver in 2024.
Housing at every income level
Half of the property’s units will be set aside for individuals earning less than 80 percent of the area median income. Alastair Jenkin, senior vice president of development at The NRP Group said in prepared remarks that the community will provide high-quality housing to residents at every income level, catering to the military, young professionals and working families.
The property will offer one- to three-bedroom units, ranging from 653 to 1412 square feet. Community amenities will include a club room, pool, fitness center and dog park. Private garages will also be available.
Located at State Route 190 & W S Young Drive, the property will be 1 mile north of Killeen Mall and several other retail options. Downtown Killeen and its multitude of shopping, dining and entertainment options will also be within 1 mile southwest of the community. Long Branch Park will be some 2 miles northeast, while Conder Park will be less than half a mile west.
J.P. Morgan provided equity investment in the project. Texas Property Bank provided financing.
Active in the southern state, The NRP Group broke ground on The James on Grand Avenue, a fully affordable 275-unit in Williamson County, Texas, in the fall of last year. This community will be located within 10 miles from five parks.