Situated two miles southeast of Fort Cavazos, the largest active duty post in the U.S. Military, the development marks a significant milestone in the revitalization of North Killeen
KILLEEN, Texas–(BUSINESS WIRE)–The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with The City of Killeen Public Facility Corporation (PFC), J.P. Morgan, and Texas Capital Bank, today celebrated the grand opening of Station42, a 368-unit mixed-income multifamily project in Killeen, Texas.
Station42 showcases NRP’s dedication to offering quality housing for Central Texas residents at all income levels, with a focus on the “missing middle” who face challenges affording market-rate rents amid the region’s rapid population growth. To meet this demand, more than half of the property’s units are reserved for residents earning less than 80 percent of the area median income (AMI).
“It’s an honor to play a role in the revitalization of North Killeen while providing high-quality housing for members of the military, young professionals, and working families,” said Parker White, Vice President of Development at the NRP Group. “Collaborating with the City of Killeen is a privilege, and we look forward to contributing to the city’s continued growth and prosperity.”
Located near the corner of W.S. Young Drive and East Veterans Memorial Boulevard, adjacent to Conder Park, Station42 boasts a robust onsite amenities package. Residents will have access to a 24-hour fitness center, club room, gaming area, kitchen and dining space, and a coworking lounge space complete with two tech-enabled conference rooms. The development’s outdoor amenities include a dog park and entertainment area with dining space, a resort-style pool and a grilling deck. A package concierge and private, detached parking garages with EV charging stations are also available. The property is in proximity to Killeen’s historic downtown.
In-unit finishes include keyless fob entry, in-suite washers and dryers, LED backlit mirrors, built-in USB ports, and, in select units, balconies are available. Kitchens feature stainless steel appliances, maple white quartz countertops, white brick kitchen backsplashes, undermount sinks and under-cabinet kitchen lighting.
“We are thrilled to celebrate Station42 which brings a new dimension to our community but also presents a unique affordability opportunity for our constituents,” said Jessica Gonzalez, Killeen City Council Member District #1. “Station42 stands as a robust economic driver, and I believe it will significantly enhance the well-being of our residents while concurrently diversifying the range of housing options in Killeen. It’s beautiful to have the finished product here in our neighborhood.”
Killeen has a population of nearly 160,000, making it the 19th-most populous city in Texas and the largest of the three principal cities of Bell County. Due to the city’s proximity to Fort Cavazos, Killeen’s local economy is interconnected with the activities of the post, and the soldiers and their families stationed there.
“Station 42 signifies growth, revitalization and progress,” said Kent Cagle, Killeen City Manager. “It will also help reinforce our Killeen 2040 Comprehensive Plan, with its proximity to our Historic Downtown, as the goal is to continue to build up the downtown district and the surrounding neighborhoods, which is critical to the city’s fiscal health. We’ve made investing into the north side neighborhoods a priority.”
J.P. Morgan partnered with The NRP Group to provide equity investment in the project, while construction financing was provided by Texas Property Bank.
About The NRP Group
The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing with a mission to create exceptional rental housing communities for individuals and families, regardless of income. Since its founding in 1994, NRP has developed more than 50,000 apartment homes and currently manages over 25,000 residential units.
Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company’s formidable size and depth of talent provide the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market-rate, affordable, mixed-income, and senior housing.
The NRP Group is consistently ranked in the Top 10 largest developers and builders in the U.S. by the National Multifamily Housing Council and by Affordable Housing Finance. The NRP Group is a winner of the National Association of Home Builders Multifamily Pillars of the Industry award for “Builder of the Year,” and a four-time recipient of the same award for “Development Firm of the Year.” The NRP Group has become the top multifamily developer in the U.S. that creates both affordable and market-rate housing at a national scale. Based on its nearly 30 years of experience and expertise, NRP now provides construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com.
Contacts
Media:
Phoebe Schmidt
Antenna | Spaces
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