Journeyman Group Secures $49M Construction Loan For The Matador Affordable Housing Project In Austin

The Matador, a 285-unit affordable housing project in South Austin, is being developed by Journeyman Group. The development site is located at 5900 South Congress Avenue and spans 3.3 acres. The project aims to provide much-needed housing options for the community.

Summary of transaction details

• Property Type: Development Site
• Address: 5900 South Congress Avenue
• Market: Austin
• Loan Amount: $49,000,000
• Loan Type: Construction Loan

The financing for The Matador project was secured through a $49 million construction loan. The loan was provided by University Federal Credit Union (UFCU), with Brad Russell and Jason Qunell representing the lender. Journeyman Group, led by Ross Hamilton, serves as the landlord for this development.

Note: The construction loan for The Matador was sourced from seven credit unions, with UFCU leading the financing deal. The loan will support the development of the 285-unit affordable housing project in South Austin.