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6/05/24
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Empire Group of Companies has obtained $47.4 mil in non-recourse financing for construction of Village at Mayfair, a 217-unit Build-to-Rent community in New Braunfels, TX. The project will be situated on nearly 20 acres within the 1,900-acre Mayfair master-planned community, located roughly 35 miles north of San Antonio and 40 miles south of Austin.
Empire Group’s plans call for cottage-style single-family BTR homes in a gated community within Midtown. Each home will have an average unit size of 1k sf and will offer some level of private patio or yard space. The units will feature solid surface quartz countertops, stainless steel appliances, premium kitchen backsplashes, full-size washers and dryers, and upgraded smart-home features and technology.
The Village at Mayfair BTR community will offer a fitness center, car care station, BBQ grills, a central community pool and clubhouse, and common open space. A portion of the site will be dedicated to amenities such as a pond, open space, and a walking path. Construction on the Village at Mayfair commences in Q2 2024, with the first homes expected to be available for occupancy in Q3 2025.
The project is being built by Austin, Texas-based general contractor, Legacy MCS. The loan was arranged by Tower Capital and marks the 12th single-family build-to-rent project by Empire that Tower has financed.
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