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Texas  + Dallas-Fort Worth  + Apartments  | 
K Avenue Lofts Nabs $39.6M Financing for Development

K Avenue Lofts Nabs $40M Financing for Development

KeyBank Community Development Lending and Investment (CDLI) recently provided a $39.6 million private placement loan for MVAH Partners LLC, an affordable housing developer based in West Chester, OH. The financing will go to develop K Avenue Lofts, a mixed-income housing property in Plano.

The Plano Housing Authority issued the bonds and the Texas Department of Housing and Community Affairs awarded $12.03 million in tax credits. David Lacki and Alton Tinker of KeyBank’s CDLI team structured the financing.

The five-story building will contain 226 units, of which 79 percent will be affordable to tenants earning up to 60 percent of area median income and the remaining 21 percent will be market rate. The project amenities will include leasing office/clubhouse, craft room, fitness center, business center, media room, pet park, playground, covered picnic pavilion, laundry center and swimming pool. Unit amenities include washer and dryer connections, mini-blinds, ceiling fans, walk-in closets and a patio or balcony.

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David Lacki

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Financing
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