Cary Clarke Sees the Project RailRoad Lofts as a Step Forward, A Strategic Answer to Rising Housing Demand

While much of the real estate development world is sitting on the sidelines, one seasoned developer is stepping up to the plate. Cary Clarke, CEO of Founders Development Company, is breaking from the stagnation that’s gripped the multifamily sector with the launch of his latest ground-up project: RailRoad Lofts, a 351-unit, Class A apartment development in Cleburne, Texas.

Clarke’s move comes at a moment when apartment leasing absorption has been recorded highest. “We’re watching two opposing forces build at once: more demand, less supply,” says Clarke. “It’s not that people don’t want to build. It’s that the economics haven’t worked. The interest rates are high, construction costs have soared, and rents haven’t kept pace. So, projects that look great on paper aren’t financially right now. But that’s precisely why this project matters.”

Clarke sees a shift in lifestyle. While economic factors like unaffordable mortgages push people into rentals, a new breed of ‘renters by preference’ is emerging. “This looks like a long-term trend for both young professionals and baby boomers who want to travel, be near family, and avoid the maintenance of homeownership,” explains Clarke. And while these shifts are happening nationwide, Texas, particularly the Dallas-Fort Worth (DFW) area, is a hotspot.

That pressure and Clarke’s decades of experience led to RailRoad Lofts, now open for investment. The community will be the multifamily anchor in the Railhead Addition, a master-planned development directly adjacent to La Moderna Field. What truly sets this project apart is the walkable community, bustling sidewalks, restaurants, hotels, retail, medical centers, and homes that will create a true community.

Several factors make this project uniquely viable. One of them being affordably priced land. The city’s investment in La Moderna Field, a $25 million public bond, and the surrounding zoning for mixed-use has laid the groundwork for long-term growth. Clarke seized the opportunity by acquiring the apartment land at the center of it all.

For Clarke, the project represents a culmination of 40+ years in the real estate business. From managing unit turnovers and leasing operations as a fresh graduate, to building a thriving homebuilding company, to leading commercial and residential developments, Clarke’s path has been anything but conventional. “I started at five dollars an hour patching bathtubs and fixing A/C units,” he recalls. “At the time, I resented it, but it taught me everything from the ground up.”

That foundation evolved into a thriving homebuilding company, followed by land development, commercial projects, and eventually a return to multifamily through structured training programs and mentorships in recent years. After decades of hands-on experience in construction, development, and brokerage, Clarke reentered the multifamily space with renewed energy post-COVID. “I immersed myself in education, took every training course I could find, and built a network of professionals with complementary skill sets. This journey continues with the current ongoing project,” he confirms.

With the industry waiting for the next rate drop, Clarke believes this is the moment for bold, strategic action. “This project is a direct response to market inactivity. While others wait, we’re building. We’ve invested thousands in due diligence and design before even breaking ground. Because when you find the right land, the right partners, and the right vision, you go with it.”

And Clarke isn’t looking to stop here. “This is the first of several projects I plan to deliver in the next decade,” he affirms. “I truly envision building legacy projects. And it starts right here, right now with RailRoad Lofts.”

Disclaimer: Written in partnership with APG.