EL PASO, Texas — An empty parcel on El Paso’s East Side is lined up for a new apartment community, with city permit records showing plans for a complex at 3557 North Zaragoza Road.
Mountain Regency Residences LLC, a local company, is listed as the owner, and the El Paso firm Exigo Architects filed the application. The project is valued at about $40 million. The site sits just off Rich Beem Boulevard and borders two retail centers, La Tienda de Zaragoza and Paseo Real IV, in a busy corridor that already has a Dutch Bros. Coffee, a Mister Car Wash and several fast-food restaurants.
Much remains unknown. The city’s records do not yet show how many units are planned, how large they will be, what amenities are included, who the contractor is or when work might begin.
The plan arrives as rents climb across the region. The Texas Real Estate Research Center expects two-bedroom leases in El Paso to average $1,360 a month in 2026 and one-bedroom units about $1,162, and it projects multifamily construction in the area to reach its highest level since 2017. Across the country, demand for apartments has been driven up by higher home payments and rents, a shortage of newly built homes for sale and changing demographics.
It would also be the second new apartment project along the same road. Roughly a mile up the road at 2055 North Zaragoza, a 41-unit complex called Eastside Crossings is going up on a 1.76-acre lot as a $6.9 million project from Housing Opportunity Management Enterprises, the developer known as HOME, adding to a wave of new rental housing on the East Side.
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