March 13, 2026 | by Anna Orendain
Categories: Affordable Housing, Spotlight
TSAHC periodically spotlights affordable housing developments across the state to help readers understand what they look like, how they are financed, and who lives there.
Last week, we announced the 2025 Texas Housing Impact Fund Investment Report. This week, we are focusing our spotlight on a property financed in part by TSAHC'S Texas Housing Impact Fund, the Landmark on Pine.
The Landmark on Pine is a 40-unit multifamily rental community that will be dedicated to serving seniors in downtown Texarkana.
The property is being developed by OPG Pine Partners, LLC and will include the rehabilitation of both the historic O'Dwyer Department Store and also the adjoining Texarkana Gazette building.
Of the 40 total units, 4 will be set aside for households earning 30% or less than the area median income (AMI), 8 units will be set aside for households earning 50% or less than AMI, and 26 units will be set aside for households earning 60% or less than AMI. The remaining two units will be priced at market rate.
The property is surrounded by downtown businesses, restaurants, retail, and other amenities, and it sits across the street from the historic Museum of Regional History. The most recent affordable senior development in Texarkana was built in 2013 and included 47 units. This demonstrates a strong need for more affordable housing, especially housing that serves the senior population.
The total projected development budget for Landmark on Pine is nearly $16.1 million. TSAHC provided OPG Pine Partners, LLC with a $475,000 bridge loan to help with the acquisition of the historic site.
In addition to financing from TSAHC, the Landmark on Pine also received financing from Legacy Bank and Trust, $9.5 million in 9% housing tax credit equity, approximately $2 million in federal historic tax credit equity, approximately $3.2 million in state historic tax credit equity, and nearly $250,000 in deferred developer fees.
Construction for the Landmark on Pine will begin as early as April 2026, with the anticipated completion of the project being in late 2027.
Launched in 2003, the Texas Housing Impact Fund offers short and long-term financing for the development, acquisition, or rehabilitation of affordable rental or homeownership developments across Texas that create opportunity, healthier environments and a higher quality of life for low- and moderate-income families.
TSAHC is currently focusing our lending on construction-phase financing for both multifamily rental and single-family homeownership. For more information about these product lines, click here.
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