By Justin Sayers – Austin Business Journal
One of Minnesota’s fastest-growing real estate developers is jumping into the Lone Star State with a 300-unit affordable housing complex in Hutto — with more projects potentially on the way for Central and North Texas, and the rest of the country.
Roers Companies is building the three-story complex, tentatively named The Narrows Apartments, on 16 acres near Farley Middle School. The complex will be for those making up to 60% of Williamson County’s area median income, which is $98,000, according to data collected by Fannie Mae.
Shane LaFave, Roers’ director of development, said the company typically targets suburban parts of fast-growing regions with good economic indicators, and “Austin is certainly one of those places.” The company’s mission is to provide quality, affordable projects amid growing concerns about housing prices in big cities around the country.