Clearinghouse CDFI (CCDFI) is actively working towards revitalizing a community in North Texas by providing financing for the acquisition and renovation of an aging apartment complex. Through an $8,400,000 loan from CCDFI, 3501 NHC, LLC, a real estate holding company managed by MarketSpace Capital, is undertaking the transformation of an aging apartment complex located in Haltom City, TX.
The Haltom City Apartments consist of 122 units spread across seven buildings, and significant upgrades are necessary to meet modern standards. This strategic investment aims to breathe new life into the North Texas neighborhood and address the growing demand for affordable housing, as the current occupancy rate stands at an impressive 98%. To ensure availability after the renovations, the borrower will actively assist eligible tenants in applying for the Texas state voucher program. The planned renovations include exterior improvements such as repainting, fence installation, covered parking, and adding a dog park and green space.
MarketSpace Capital is a dynamic real estate investment firm that specializes in transformative commercial property projects. Their collaborative approach and steadfast commitment to community development enable them to generate positive economic impacts in the communities they serve.
Read the full story here: Just Funded – Haltom City Apartments