Hunt Capital Partners Invests $16.5M In Austin Affordable Housing Project

Hunt Capital Partners has invested $16.5 million in federal Low-Income Housing Tax Credit equity for Cady Lofts, a 100-unit affordable housing project in Austin. Developed by SGI Ventures in collaboration with the Housing Authority of the City of Austin, the project aims to provide studio apartments for individuals earning 30 to 60 percent of the area median income, featuring modern amenities and communal facilities, with completion scheduled for March 2025.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $16,500,000
• Lender: Hunt Capital Partners - Jeff Weiss
• Landlord: SGI Ventures - Sally Gaskin; Housing Authority of the City
• Loan Type: Equity

Jeff Weiss from Hunt Capital Partners provided the loan of $16.5 million in federal Low-Income Housing Tax Credit equity for the Cady Lofts project. The developer, SGI Ventures, collaborated with the Housing Authority of the City of Austin to create this affordable housing project. The aim is to offer studio apartments to individuals with incomes ranging from 30 to 60 percent of the area median income. The project will include modern amenities and communal facilities, and is set to be completed by March 2025.