Explore the Site
A 250-unit new-construction development for families of low and moderate income at or below 50% and 60% of AMFI located in Dallas, Texas, approximately eight miles South of Downtown Dallas in the Pleasant Grove area. The site is located at 3131 Simpson Stuart Road near Paul Quinn College. The site is contiguous to the successful Homes of Persimmons development.
Financing
Construction and permanent financing for this development was provided by Charter Mac through a tax-exempt bond offering for $14,030,000. The bonds closed and the contractor broke ground on the project in May 2005. Completion: June 2006 and 100% occupied was achieved in December 2006. The Related Capital Companies is the equity investor in this development (the project was sold to CCG in December 2008). The construction contract was for $16.9MM. RISE was the property manager through lease-up and stabilization.
Details
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Year Built
2006 -
Total Units
250
Address
- Address 3131 Simpson Stuart Rd, Dallas, TX
- Zip/Postal Code 75241
