Cedar Park: $43M Tuckaway affordable housing project

CEDAR PARK – A new apartment complex with up to 256 units on Bagdad Rd. could help fill a price gap in Cedar Park’s affordable housing.

Indiana-based Pedcor Investments has proposed the project, deemed Tuckaway Apartments, on 17 acres at the northeast corner of Bagdad Rd. and Brashear Lane.

Construction on Cedar Grove could start in soon. The company plans to spend $43 million on the project and hopes to finance the project partly through the sale of tax credits obtained from the Texas Department of Housing and Community Affairs.

Tuckaway Apartments units are intended for households that earn between $31,000 and $53,000 annually. Average monthly rent will be $914, a price point that is underrepresented in the city.

The project will also include all-masonry exteriors, a swimming pool and splash pad, a gym and business center.