Lantern at Big Spring

Lantern at Big Spring is a new construction multifamily development in Big Spring, Texas, featuring 44 residential units. The project, filed as Building #1, occupies a site at TBD Travis Way in Howard County. With an estimated cost of $6,800,000 and a total area of 40,000 square feet, the development represents a significant addition to the local housing stock. The scope includes a leasing office, mail lounge, fitness center, and community room, designed to support a full-service residential community.

The project is privately funded and developed by Big Spring Multifamily #1 LP. Wallace Architects, LLC serves as the design firm of record, bringing experience from other multifamily projects across Texas. Stephen D Macphie is the registered accessibility specialist ensuring the design meets state standards. The TDLR registration was completed in August 2026, and plan review was finalized in October 2026. Construction is scheduled to begin in November 2026 and is scheduled to finish in December 2027. This timeline reflects a build window of 395 days, which is longer than the county median of 212 days for similar new construction filings.

Project Scale and Cost Context

At $6,800,000, the estimated cost places this project in the top quarter of new construction filings in Howard County. The median estimated cost for similar projects in the county is $875,000. However, the cost per square foot for Lantern at Big Spring is $170, which is below the county median of $237 per square foot. This efficiency suggests a streamlined build process for a large-scale apartment complex.

Wallace Architects, LLC has six other TDLR-registered projects totaling $36,112,406, including developments in San Angelo, Robstown, and Mansfield. This indicates a consistent presence in the Texas multifamily market. Big Spring Multifamily #1 LP also has another registered project in Big Spring valued at $7,545,000. The local area profile for ZIP code 79720 shows a population of about 30,432 and a median household income of $71,194. The housing stock is mostly owner-occupied, with a median home value of $146,500. The addition of 44 rental units offers a new housing option in a market where ownership has traditionally dominated.

Howard County’s unemployment rate was 5 percent in July 2026, higher than a year earlier. This economic context may affect demand for multifamily housing as residents seek flexible living arrangements. The project’s completion in late 2027 will add to the available rental inventory in Big Spring. Readers should note that this information is based on TDLR filings and Census estimates, and actual details may vary as construction progresses. The project status is Review Complete, with construction yet to begin.