Aquisition and Construction Support for Multifamily Housing
How We Support
We provide loans for the construction or rehabilitation of affordable multifamily projects. This product is an excellent solution for a small project or as gap financing for a larger development. TSAHC can lend up to $2 million, per project, to assist developers acquire and construct multifamily rental housing.For Developers
Developers are highly encouraged to review the policies and guidelines for the loan product type requested prior to the meeting with TSAHC staff.
Application Process
Developers interested in applying for funding must first schedule a virtual meeting with TSAHC prior to receiving application materials. Once TSAHC staff and the Developer have agreed that the proposed project fulfills TSAHC’s program guidelines, we will provide an electronic copy of the application materials via email. Developers should reference our Texas Housing Impact Fund Policy and Guidelines when completing the application.
Construction Loan Success Story
The Vista Rita Blanca Apartments built by Guadalupe Economic Services Corporation include 28 units of rural affordable rental housing targeted to agricultural workers in Dalhart, Texas. TSAHC provided a $356,125 construction loan for the project that was combined with $2,686,430 in funding from the U.S. Department of Agriculture to finance the development. Rents range from $637 to $781 per month for two to four bedroom units.
“TSAHC’s financial commitment was the critical link in building the Rita Blanca project and creating safe and affordable housing for families who otherwise would not be able to find a suitable place to live.”
– Diana Lopez, Executive Director of Guadalupe Economic Services Corporation
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