Bellwether Enterprise Secures $1.5M Loan For La Vista De Lopez Affordable Housing Project In Austin, Texas
This Development Site property located in TX received a loan of $1,500,000 19 days ago.
Bellwether Enterprise (BWE) has secured a $1.5 million HUD-insured loan for La Vista de Lopez, a 27-unit affordable housing project in Austin, Texas. The development is designed for lower-income seniors earning 50% or below the Area Median Income. It is located at 809 East 9th Street in the Austin market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,500,000
- Loan Type: Construction Loan
- Loan Terms: 40-year term with a 40-year amortization period
- Landlord: Bellwether Enterprise (BWE) - DJ Effler
This loan is the first of its kind in the country, as it combines an FHA-insured new construction mortgage with a Section 202 Capital Advance. The loan features a 40-year term with a 40-year amortization, providing long-term financing for the development of La Vista de Lopez.
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- Location809 East 9th Street
- Loan Value$1,500,000
- Asset TypeDevelopment Site
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Deal Summary
LOAN
IMAGE: DJ Effler
DATE: 11/16/2023
ADDRESS: 809 East 9th Street
MARKET: Austin
ASSET TYPE: Development Site
LANDLORD: Bellwether Enterprise (BWE) - DJ Effler (@DJEfler)
LOAN AMOUNT: $1,500,000
LOAN TYPE: Construction Loan
LOAN TERMS: 40-year term with a 40-year amortization period.
NOTE: BWE has secured a $1.5 million HUD-insured loan for La Vista de Lopez, a 27-unit affordable housing project in Austin, Texas, designed for lower-income seniors earning 50% or below the Area Median Income. This development is the first in the country to combine an FHA-insured new construction mortgage with a Section 202 Capital Advance, featuring a 40-year term with a 40-year amortization.
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