NHPF Builds

Seabrook Square 3511–3515 Manor Road, Austin, TX 78723 / 204 units

Construction on NHPF’s first property in Austin, TX, Seabrook Square,will complete in early 2025. These 204 new rental apartment homes will be available to households earning at or below 60% of the Area Median Income (AMI). This significant event marks

a crucial step towards addressing the region’s housing needs and fostering economic diversity within the community. In collaboration with AHFC and local developer Capital A Housing, NHPF closed on $74.5 million in construction financing for Seabrook Square. Of the 204 new rental apartment homes, ten live-work units will be made available to income-qualified Austin artists, chosen by SixSquare, the East Austin cultural district partner of Seabrook Square. Seabrook Square is financed through a diverse funding structure, including a $40 million tax-exempt bond issued by the City of Austin, $3.4 million Citibank construction bridge debt, $32.3 million in 4% LIHTC Equity syndicated by Boston Financial, and $13.5 million in Austin Housing Finance Corporation subordinate debt financing.

Pepper Tree Manor 5950 Antoine Drive, Houston, TX 77091 / 250 units

Situated on 15 acres in Houston, Texas, Peppertree Manor is comprised of 250 one- and two bedroom units. Constructed in 2006, Pepper Tree provides affordable upscale living for seniors aged 55 and older. Amenities include granite countertops, 9-foot ceilings, crown molding, and energy-efficient features. The community offers a lap pool, a vegetable and flower garden, a comprehensive fitness center, a fully equipped business center, library, clubhouse, and entertainment areas.

NHPF BUILDS TEXAS