DEAL OF THE DAY: Boston Capital Invests $11.44M in New 146-Unit Development

By Rachel Block, ReporterForth Worth, Texas–Boston Capital recently invested $11,440,000 in the Residences at Eastland in Forth Worth, Texas, a 146-unit community planned to be built about six miles southeast of Forth Worth’s major business district. The general partner on this deal is an affiliate of The NuRock Cos.The forthcoming development is targeted at low-income families and individuals through the Low Income Housing Tax Credit (LIHTC) program, and will be available to residents making 60 percent or less of the Area Median Income (AMI). Spread over 28.54 acres, the development will 80 two-bedroom units, 60 three-bedroom units, and six four-bedroom units, with 11 of the units being accessible for handicapped and developmentally disabled people. There will also be a 4,247-sq.-ft. common area used for recreational centers, including a staffed children’s center, fitness center and business and learning center with available computers. The development will also provide a swimming pool, covered pavilion, BBQ grill, table and a sun porch.(Pictured: A property that looks like the new development)