The development by Echo Station LP has 11 buildings, a swimming pool and spa, clubhouse and business center. The Thompson Nelson Group, headquartered in Houston, has designed the complex.
The financing came through HUD's 221(d)(4) full insurance multifamily accelerated processing program. The 40-year loan is fully assumable. Since 1989, Malone has specialized in new construction financing for multifamily and assisted living projects in the US.
In the 19th century, the Echo Station community was a post office and train station on the Missouri, Kansas and Texas Railroad south of Temple. Since 1988, it has since been part of Temple, about 60 miles north of Austin. The Scott and White medical complex is headquartered in Temple and the Fort Hood Army base is nearby.
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