Patoka Capital, a Southern Indiana private investment firm, and MMI Development are proud to announce their partnership on a Texas-based multi-family residential development.
The to-be-built Affinity at Tech Ridge Apartments will be located near Copperfield Park in the Tech Ridge section of Northeast Central Austin, TX.
The $85 million-dollar project, situated on 18.1 acres, will consist of 460 Class A for-rent multifamily units, developed within five, elevator serviced, four-story buildings. Each building will be a fully enclosed, secure, air-conditioned structure with the facilities to include an integrated clubhouse that will offer a variety of amenities along with a resort-style swimming pool.
The location chosen for this new project is about 15 minutes from Downtown Austin and is surrounded by several high-quality public and private schools, regional and neighborhood grocery-anchored shopping centers, and major employers such as Apple, Samsung, and Tesla.
“We continue to pursue targeted real estate development projects in vibrant markets with favorable demographics. MMI’s track record of success and market expertise make them the ideal strategic partner,” said Chance Ragains, CEO, Patoka Capital.