JPI Secures Land, Construction Loan for Dallas Mixed-Income Rental Community
JPI closed both land and construction financing for a new income-restricted housing complex in southern Dallas. Construction begins this month, with completion anticipated in mid-2028.
The Torrington Forest project, planned on nearly 17 acres at 7100 S. Great Trinity Forest Way, calls for the construction of 248 homes, including 222 homes restricted to households earning up to 60 percent of the area median income level and 13 homes at 70 percent of AMI. The community is financed through 4% Low-Income Housing Tax Credits administered by the Texas Department of Housing and Community Affairs. The land is ground-leased to the development partnership by an affiliate of the City of Dallas Housing Finance Corporation (HFC) under a long-term agreement, with HFC serving as the partnership’s general partner.
The four-story development will include amenities such as a fitness center, a swimming pool, a community room, and a business center, with 6.3 acres of the site preserved as open space through a conservation easement.
Other News
WinnCompanies Lines Up Financing for Mixed-Income Salem TOD
WinnCompanies has secured financing for a 115-unit, mixed-income apartment building designed to revitalize the northern gateway to downtown Salem, MA. To be named The Exchange Salem, the seven-story building will be erected on the site of a former municipal parking lot overlooking the city’s mass transit station and parking garage. The $48-million construction project will...
Learn more
Walker Webcast: Economist Peter Linneman Revises Rate Forecasts, Warns of Data Center Overbuilding
Economist Peter Linneman still believes inflation will ease. But he’s no longer as confident that the Federal Reserve will respond with cuts in the federal funds rate as quickly as he said earlier this year. Linneman appeared on the Oct. 7 Walker Webcast with host Walker & Dunlop CEO Willy Walker. During the hour-long event,...
Learn more
New Westminster Apartment Pair Trades For $18M
Two New Westminster apartment buildings have traded for $18M, providing a fresh transaction marker for Metro Vancouver’s purpose-built rental market. Twin Hollies at 1010 St. Andrews St. and St. Andrews Manor at 1025 St. Andrews St. sold for about $198K per suite at a 5.3% cap rate, according to Goodman Commercial, which handled the transaction....
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout