The Lenora Lands $2.64M City Loan for Menchaca Road Project

The Lenora, a 39-unit affordable apartment project at 4507 Menchaca Road, will rise about four miles southwest of downtown. Overland Property Group is developing the 45,000-square-foot project, designed by Jones Gillam Renz Architects. Owner of record is JBHR Project 16, LP.

All 39 units are income-restricted: 4 at or below 30% MFI, 18 at 50%, 14 at 60%, and 3 at 80%. The affordability period runs 45 years.

City Council passed a resolution of support Feb. 5, 2026 for the 9% LIHTC application. TDHCA awarded the 2026 credits under Application 26170, with a credit request of $1,164,600. On Oct. 22, the Austin Housing Finance Corporation approved a $2.64 million bond-funded loan. Total project cost is $16.28 million; TDLR estimates construction at $8.3 million.

The site plan, ESP - The Lenora, was filed Oct. 19 and is pending Council review. A TDLR filing registered Nov. 2 lists a construction start of April 15, 2027 and completion June 15, 2028. No building permit or groundbreaking has been reported.