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Rural Housing Developers, LLC Announces Development of TRM Senior Apartments in Texas
Monday, November 16, 2015 at 7:42 PM
Texas (November 16, 2015) - Rural Housing Developers, LLC is excited to announce the acquisition of 3 Senior Apartment complexes in Texas. Rural Housing Developers, LLC on July 30, 2015 was awarded a reservation of Low Income Housing Tax Credits from the Texas Department of Housing and Community Affairs (TDHCA). The total development has a cost of $8,700,000. TRM Senior Housing will include the rehabilitation of Troup Senior Apartments in Troup, TX, Rusk Senior Apartments in Rusk, TX and Mount Pleasant Senior Apartments in Mount Pleasant, TX.
Construction on the total of 88 units consisting of 1 and 2 bedrooms, will begin April 2016, with completion expected in April 2017. Hamilton Contracting will be the General Contractor of this project. Hamilton Properties will manage the properties during and after construction. Over 10 years Rural Housing Developers will receive $6,299,950 in Low Income Housing Tax Credits from TDHCA in equity that will be used towards the overall construction costs.
About Us - Historically, Hamilton Properties and its affiliate companies have developed multifamily housing in five Midwestern States. The hallmark of Hamilton Properties’ success has been its early specialization in rural multifamily housing development. This focus has been expanded in recent years to housing in urban and suburban areas, including new construction of both moderate and substantial rehabilitation of existing housing.
Hamilton Contracting has created or redeveloped well over 4,590 housing units in scores of new or rehabilitated housing developments, as owners, managers, and developers of more than 140 projects. In each case, Hamilton Properties’ affiliates have served as developer – designing, packing, coordinating, funding construction, and managing the development. Knowledge, ability and financial strength are the keys applied by Hamilton Properties Corporation to the successful completion of all of its real estate ventures. These are the foundation resources and expertise with which we have approached all of our current and future property developments since our founding in 1968.