New Affordable Community Reaches Completion in McKinney
- Jan 09, 2017
Dallas—KWA Construction, a general contractor specializing in multifamily developments in Texas, has completed construction of Post Oak Apartments, an affordable rental community, on behalf of owner McKinney Millennium II LP and developer GroudFloor Development.
The 182-unit community was built with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program; 130 of the units are directed to families and individuals earning 60 percent or less of the area’s median income, while the remaining 52 are available for lease at competitive rental market rates. Real estate investment and advisory firm specializing in equity investments in affordable multifamily housing and market rate communities Boston Capital was the investor of the construction of Post Oak Apartments.
“With the population steadily increasing and a limited number of affordable workforce housing options currently available, Post Oak Apartments provides a much-needed housing option to the residents of McKinney,” Brian Webster, president of KWA Construction, said in a prepared statement.
Post Oak is built on nearly 7 acres in McKinney using a 100 percent masonry brick and natural stone exterior. Architettura Inc. of Plano, Texas, handled the design of the four-story apartments. Residents can choose from one- to three-bedroom floor plans featuring hardwood flooring, central air conditioning, dishwashers, microwaves, washer and dryer hookups and individual patios or balconies. Common area amenities include a leasing center, clubhouse with fitness center, business center, laundry facility, swimming pool and resident lounges with a kitchen.
The property has easy access to medical centers, schools, employment and recreation facilities, being conveniently located at the southeast quadrant of the McKinney Ranch Parkway and Collin McKinney Parkway intersection.
Image courtesy of KWA Construction