Skip to main content

More than 25 Years Investing in America’s Communities

More than 25

25 Years Investing in America’s Communities

Featured Investment

Bridge at Ribelin Ranch

Austin, TX
Bridge at Ribelin Ranch

Investment introduction paragraphs

CDT’s fourth partnership with the Austin Housing Authority converted an amenitized, market-rate property to affordable housing in an area with few viable alternatives.

Partners

Austin Affordable Housing Corporation (“AAHC”), an affiliate of the Housing Authority of the City of Austin (“HACA”).

Highlights

CDT’s fourth partnership with HACA and its non-profit affiliate AAHC converted market-rate apartments to affordable housing. 51% of the 350 units serve residents at 80% AMI. The property includes a swimming pool, community center, and a 24-hour fitness center.

CDT invested $18,680,000 for an 80% interest in Ribelin Ranch through a joint venture with AAHC. First mortgage financing was provided through a new 10-year Fannie Mae loan.

Interior of an apartment in Ribelin Ranch

Impact

CDT’s investment restricts 179 previously market-rate units to families and individuals earnings 80% or less of area median income, providing long-term security in a market with limited high-quality affordable housing options.