Capital One Finances Houston Sr. Housing Project

Capital One made a roughly $16 million low-income housing tax credit (LIHTC) equity investment to Campanile on Minimax LP to build a new 117-unit mixed-income senior housing apartment development in Houston. In addition to the LIHTC investment, Capital One provided a $10.9 million HUD 221(d)4 loan for construction and permanent financing.

Campanile on Minimax will include 78 one-bedroom and 39 two-bedroom units. Ninety-three of the units will be restricted at 30%, 50% and 60% of Area Median Income (AMI), and 24 will be unrestricted units. 

In addition to serving the senior population, Campanile on Minimax will market a total of six units to households with special housing needs, such as unhoused families and individuals, along with veterans, people with differing mobility needs and people with differing hearing or vision capabilities. Resident services at Campanile will include credit counseling, classes in basic adult education, health screening and exercise classes. 

On April 18, join multihousing’s leaders and dealmakers when they explore the most important topics facing the Phoenix and Scottsdale markets today. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else. Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at the Westin Kierland Resort & Spa.