DALLAS-With one apartment project under development in suburban Tulsa, OK, Encore Multi-Family LLC has broken ground on two more apartment communities in tertiary markets in Texas. The local firm, which recently completed apartment communities in Burleson, TX, and Corpus Christi, TX, has plans to expand into Colorado later this year.
The two new multifamily projects are Encore on Marlandwood, a 180-unit community in Temple, TX, and Encore on Gibson Lane, a 168-unit community in Texarkana, TX. Together, both projects have a development cost of more than $33 million.
Both projects were financed through the US Department of Housing and Urban Development (HUD) 221(d)(4) program. HUD-approved lender Berkadia arranged the loan.
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