Developers have broken ground on a 175-unit active adult community in Dripping Springs, about 25 miles west of Austin, that will reserve its apartments and villas for residents age 55 and older. The project, called Serenova at Dripping Springs, is being built by ARCTRUST Private Capital and Edison Equity Residential and sits adjacent to the Headwaters master-planned community.
What's Planned for the Site
According to Seniors Housing Business, the community will include a restaurant and bar, fitness centers, a swimming pool, a creative arts studio, a club room, a community lounge and a marketplace. Concierge services are planned too, with staff offering personal assistance with reservations, travel, in-home needs and social planning, per the same source. The property's unit mix, as reported by Connect CRE, is expected to be 133 one- and two-bedroom apartments paired with 42 private villas. Serenova at Dripping Springs lists its address as 201 Headwaters Blvd., according to Serenova Concierge Communities.
The project team includes Market Square Architects, StudioSIX5 Design and The Brownstone Group, Seniors Housing Business reports. Financing is already in place: North River Partners, Crestline Investors, Mutual of Omaha and Millennium Bridge closed a $54 million ground-up construction loan for the development, Connect CRE reported separately.
Reported Project Timeline
Homes.com News reported that construction was scheduled to begin in the fourth quarter of 2026, with first move-ins anticipated in summer 2028. Seniors Housing Business scheduled completion for fall 2028, while Connect CRE's account of the groundbreaking said the first residents are anticipated in fall 2028; the reports refer to different milestones, but both place them in fall 2028.
Second Project Under the Serenova Brand
Dripping Springs marks the second community built under Edison Equity Residential's Serenova concierge-living concept, following Serenova at Woodforest, which broke ground in October 2025, according to Connect CRE. Edison has described the broader Serenova concept as aimed at active adults who prefer a community with more services that align with independent living, per Senior Housing News. Each Serenova community is planned to have a three-person concierge team — a director and two additional concierges dedicated to wellness and social programming, technology support and transportation, the outlet reported.
Edison Equity Residential has four projects in the works across the Houston and Austin metro areas, three of them under the Serenova brand, according to Homes.com News. That expansion comes even as regional senior housing construction has slowed: the outlet reported that 1,582 senior housing units were under construction across Austin, Houston, Dallas-Fort Worth and San Antonio in the first half of 2026, a 41.2% decline from two years earlier.
Other Senior Housing in the Pipeline
Dripping Springs isn't the only active adult project moving forward in the Austin area. A 324,500-square-foot, 234-unit senior living community is planned for Northline in Leander at an estimated cost of $50 million, the Austin American-Statesman reported last month. That project is planned to include independent living, assisted living and memory care, according to the same report, a broader mix of services than Serenova's active adult model.
