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KCG Snags Financing for 260-Unit Mesquite Senior Housing Community
KCG is moving forward on a $78.45 million senior housing community in Mesquite. Walker & Dunlop has closed approximately $30 million in Low-Income Housing Tax Credit (LIHTC) equity as part of Avanti Hills, a 260-unit affordable senior housing community under development in Mesquite, Texas. Avanti Hills is being developed by KCG Development as a joint venture partnership with The Javelin Group and Mesquite Housing Finance Corporation.
The 4% LIHTC development is supported by tax-exempt bond financing through Mesquite Housing Finance Corporation, with Walker & Dunlop Affordable Housing Equity as the equity partner and Citi Community Capital and Bank of America as the debt partner.
The new construction community will feature apartment homes for adults age 55 and older, including 135 one-bedroom and 125 two-bedroom residences, with all units restricted to households earning up to 60% of Area Median Income (AMI). Amenities include a clubhouse, fitness center, outdoor gathering areas, accessible features, and resident-focused wellness and community programming.
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