Dwight Capital has provided a $56 million HUD 221(d)(4) construction loan for StoneHawk Rosehill, a planned 269-unit multifamily community in Garland, TX. The development is planned on a site of more than seven acres and will deliver a mix of one- and two-bedroom apartments. StoneHawk Capital Partners is the project developer and sponsor.
The community is being structured with both income-restricted and market-rate housing. Approximately 51% of the apartments are slated to be income- and rent-restricted, while the balance of the units will be offered at market rents. This mix positions StoneHawk Rosehill as a partially affordable, partially market-rate project within Garland’s multifamily inventory.
Planned common-area features at StoneHawk Rosehill include a clubhouse programmed with fitness and business facilities, providing residents with on-site wellness and work-oriented spaces. The project will also offer an on-site leasing and management office, supporting day-to-day operations and resident services. Outdoor recreation is expected to center on a swimming pool and a landscaped courtyard, adding amenity value to the overall resident experience.
The construction loan was originated by Dwight Capital professionals Brandon Baksh and Brian Yee on behalf of StoneHawk. The HUD 221(d)(4) execution is designed for new construction, providing long-term, fixed-rate financing for multifamily development. While detailed loan terms were not disclosed, the financing enables StoneHawk to advance its latest ground-up project in Garland.
StoneHawk Capital Partners previously completed The Olsen, another apartment community in Garland, which is referenced in connection with the new project. On its website, StoneHawk notes that it targets select markets characterized by strong job, population, and economic growth. The firm highlights high barriers to entry and solid supply-and-demand fundamentals as key criteria guiding its investment and development decisions.
The StoneHawk Rosehill financing reflects the developer’s continued activity in the Garland multifamily sector, backed by HUD-oriented construction capital. With a mix of income-restricted and market-rate units and a modern amenity package, the project is positioned to address varied housing demand in the local market once completed.
