ARCTRUST, Edison Break Ground on 175-Unit 55+ Community Near Austin
ARCTRUST Private Capital, the capital markets division of the ARCTRUST Group of Companies, and Edison Equity Residential have broken ground on Serenova at Dripping Springs, a 175-unit, 55+ age-restricted community in Dripping Springs, Texas, about 25 miles west of Austin. The groundbreaking follows the August closing of the project’s $54 million construction loan from North River Partners, the companies said.
ARCTRUST began raising equity for the development in March through Project Edison 55 at Dripping Springs LLC, a private placement offering jointly sponsored with Edison. The offering has a $50,000 minimum investment and seeks to raise up to $20.48 million from accredited investors. It had raised about $10.56 million from 93 investors as of Sept. 21.
When it launched the offering, ARCTRUST said it planned to stabilize the community at high occupancy within about two years of completion, then recapitalize it and either hold it long term or sell it to a core buyer.
Located adjacent to the Headwaters master-planned community, Serenova at Dripping Springs will include 133 one- and two-bedroom apartments and 42 private villas. Edison will operate the property under its Concierge Community model, which includes personal assistance with reservations, travel, in-home needs, and social planning. Planned amenities include a restaurant and bar, fitness centers, a pool, an arts studio, a club room, a community lounge and marketplace, and direct access to the Headwaters trail system.
The project is the second collaboration between the two firms. The first, Serenova at Woodforest, is a 165-unit, 55+ community in Montgomery, Texas, about 35 miles north of downtown Houston, that broke ground in October 2025. The companies said Woodforest is ahead of its pro forma construction schedule and is pre-leasing units. Equity for that development came from the Project Edison 55 at Woodforest LLC Regulation D private placement, which launched in April 2025 and raised $12.2 million from accredited investors.
“Woodforest has shown us how strongly this lifestyle connects with active adults, and we’re thrilled to start building that same experience in the Texas Hill Country,” said Carolyn White, chief executive officer of Edison Equity Residential.
“We look forward to delivering a second Serenova community and building on the momentum at Woodforest,” said Chris Wadelin, chief executive officer of ARCTRUST Private Capital.
The companies expect the first residents in fall 2028. The project team includes Market Square Architects, StudioSIX5 Design, and general contractor The Brownstone Group, which holds the same role at Woodforest. ARCTRUST Private Capital sponsors real estate investment trusts, Regulation D offerings, Delaware statutory trusts, and preferred equity and debt products. The ARCTRUST Group of Companies says it has developed, acquired, or joint-venture funded more than 600 projects worth more than $6 billion over more than 40 years.
For more ARCTRUST Private Capital news, visit its directory page.
