FORT WORTH--AMCAL Multi-Housing is continuing its expansion into Texas with the development of 160 units of affordable family apartments in far north Fort Worth, through its affiliate, AMTEX.
Of the 160-units at Avondale Apartments, 16 will be market rate and 144 reserved for families making between 30-60 percent of the area's median income. Construction is slated to begin this spring.
The project's estimated cost is at $25.2 million, with $15 million in 9 percent tax credits awarded by the Texas Department of Housing & Community Affairs (TDHCA). The Fort Worth Housing Authority will provide rental assistance to 25 households. Equity financing is by Hudson Housing Capital LLC; debt financing by Community Bank of Texas.
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