Red Hill Villas is a 168-unit apartment complex on Gattis School Road in front of the South Creek subdivision. South Creek residents and Round Rock City Council had opposed the project. In the end, the Texas Department of Housing and Community Development had approved $10 million in low-interest bonds for the $14-million complex. Construction on Red Hill Villas should take about a year to complete.
Hunt Building Corp. is owned by University of Texas regent Woody Hunt. Hunt, who did and still does build housing on military installations, but has expanded into affordable housing. The company also is building an affordable apartment complex in Kyle.
Red Hill Villas would not be the first affordable housing project in Round Rock that is underwritten by state development bonds. It also has provided a low-interest loan to the Meadow Ridge Apartments, located on Louis Henna Road. However, only 40% of the Meadow Ridge units are set aside for affordable housing. New state guidelines require all of Red Hill Villas' units to be earmarked for families earning between $26,000 and $36,000 annually.
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