The New Braunfels Housing Authority (NBHA) Board approved a resolution on May 7, 2026 authorizing the Lyndon Ranch Apartments transaction, a 303‑unit multifamily housing project at approximately 1801 Loop 337 in New Braunfels, Texas. The action authorizes creation of NBHA Lyndon Ranch Landowner, LLC to acquire and ground‑lease the land, NBHA’s acquisition of the membership interest in NBHA Lyndon Ranch GP, LLC, approval of project financing including a loan of up to 60000000 from Mason Joseph, LLC, and designates NBHA Public Facility Corporation as general contractor.The resolution also authorizes execution of a raft of development, loan, equity, regulatory, and construction documents, including a Development Agreement, Management Agreement, Building Loan Agreement, Regulatory Agreement, and construction contracts. While the main financing structure and general contractor are set, there will be extensive downstream needs for design services, specialty trades, compliance consulting, property management systems, and supportive services as the 303 units are designed, built, and prepared for lease-up, with affordability restrictions requiring ongoing reporting and resident-focused programming.

NBHA will own the land via NBHA Lyndon Ranch Landowner, LLC and ground-lease it to the partnership, with 50% of units restricted to households at or below 80% of area median income under a Regulatory Agreement.