DLP Capital is pleased to announce the funding of a $15,653,000 loan to support the development of Water's Edge Townhomes, an 8.78-acre residential project in Salado, Texas. Led by RREAF Construction Services, a subsidiary of RREAF Holdings, Water’s Edge Townhomes aims to address the growing demand for quality housing in the burgeoning region, and will feature a blend of townhomes which will complement affiliated multifamily units being constructed on the adjacent site.
Project Overview: Water's Edge
Water's Edge Townhomes is planned to contain a variety of rental housing options designed to enhance the residential landscape of Salado. The property, acquired as vacant land in June 2022, is zoned for single-family residential use, has seen significant development progress, and 85% of the horizontal budget has been spent on essential site preparation work, including clearing, grading, and preliminary infrastructure.
Project Timeline
Upon recapitalization, the project will immediately transition to vertical construction. The first phase of townhomes is projected for delivery in September 2024, and final completion is anticipated by March 2024.
DLP Capital is proud to back RREAF and Water's Edge. This transaction underscores our commitment to bringing Thriving Communities to life through strategic real estate investment and community development.