Founders Development Company is developing the RailRoad Lofts in Cleburne. The project is part of the master plan for the Railhead Addition. Approximately, $57 million will be funded through a 40-year fixed-rate HUD loan, with the remaining $13 million open to private investors as limited partners.
It’s located adjacent to La Moderna Field, the baseball stadium home of the Cleburne Railroaders minor league baseball team. Railroad Lofts will be a mixed-use project that will ultimately include townhomes, build-to-rent homes, retail, restaurants, a hotel, and a medical center.
Founders Cary Clarke added, “This project checks every box: growth corridor, entitlement-ready land, high-demand multifamily housing, and a mixed-use vision that builds real community.”
Railroad Lofts offers one-, two-, and three-bedroom floor plans. Amenities include a clubhouse with a full kitchen and coffee bar, a resident lounge and business center with conference rooms, a full-service fitness facility, a swimming pool and outdoor cooking stations.
The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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