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Texas  + Austin  + Apartments  | 
Samsung plant magnet for 1,000 Austin apartment rentals

Austin’s Samsung Tech Plant Magnet for Over 1,000 New Apartments

A joint venture made up of River City Capital Partners, the Austin Affordable Housing Corp., LDG Multifamily and Battery Global Advisors are teaming up to provide housing for the workers in and around Samsung’s semiconductor campus. To be called Parmer Gateway, the development is slated to consist of 1,076 units spaced across four separate projects. Two are expected to break ground next month.

The Austin Business Journal reports the project is also near a major retail center and a 2-million square foot office campus, that houses companies such as Apple, Qualcomm and BAE Systems.

While the rental units will sell at market rate, Parmer Gateway will serve families in the Housing Authority’s voucher program, where participants find their own housing within the authority’s jurisdiction and pay between 30% and 40% of their monthly income in rent. The vouchers cover the remaining rent.

The development is expected to cost roughly $86 million.


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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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