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LUBBOCK, TEXAS — LEDG Capital, an owner-operator of affordable and workforce housing properties, has completed the $12 million renovation of Southstead, a 244-unit mixed-income community in Lubbock. Built in phases in the 1970s, Southstead comprises 11 two-story buildings and 14 single-story buildings on a 20-acre site. Of the 244 units, 100 are rented at market rates. In addition to upgrading kitchens, bathrooms and HVAC systems, LEDG Capital’s rehabilitation delivered new roofs, painting, pathways, parking areas, a playground and trash enclosures. Merchants Capital financed the project, which lasted 11 months and extends Southstead’s affordability for another 30 years.