BWE, a leading financing firm, has successfully secured $14.4 million in construction funding for Westview Heights, an affordable multifamily housing development located in Denton, TX. The loan was originated by BWE’s Jon Killough on behalf of the borrower Generation Housing Partners.
This new construction project will be developed using 9% LIHTCs allocated by the Texas Department of Housing and Community Affairs. Out of the total 132 units, 11 units will be reserved for residents with incomes up to 30% of the area median income (AMI), while another 44 units will cater to those earning up to 50% AMI and remaining55 units designated for residents earning up to60% AMI. Additionally, there are also plans for22 market-rate apartments.
The project is expected to reach completion in2024 and boasts a range of community amenities such as an on-site office,f itness center,a ctivities room,b usiness center,c lubhouse,p ool,and BBQ/picnic area.
