Riverside Heights
- Units
- 264
- Closed
- 2020
- Financing
- 4% LIHTC / TEL Bonds
- Bond & debt
- $55,000,000
Developments
Communities sponsored by Legacy Multifamily Development
Three new-construction affordable and workforce communities in Fort Worth, Denton, and San Marcos, developed as co-developer and owner.
Featured developments
761 units and $158.7 million in bond and debt financing, closed between 2020 and 2026 in joint venture with RISE Residential, Cohen-Esrey, a public investment REIT, a local Public Housing Authority, and local investors.
Legacy Denton Apartments
- Units
- 264
- Closed
- 2022
- Financing
- 4% LIHTC / TEL Bonds
- Bond & debt
- $47,000,000
Heritage at Cottonwood Creek
- Units
- 233
- Closed
- 2024
- Financing
- PFC / Freddie Mac
- Bond & debt
- $56,700,000
Side by side
Development comparison
| Development | Location | Type | Units | Closed | Financing | Bond & debt | Affordability |
|---|---|---|---|---|---|---|---|
| Riverside Heights | Fort Worth, TX | Senior Living Community | 264 | 2020 | 4% LIHTC / TEL Bonds | $55,000,000 | 100% at 60% AMI |
| Legacy Denton Apartments | Denton, TX | Family Rental Community | 264 | 2022 | 4% LIHTC / TEL Bonds | $47,000,000 | 100% at 60% AMI |
| Heritage at Cottonwood Creek | San Marcos, TX | Family Rental Community | 233 | 2024 | PFC / Freddie Mac | $56,700,000 | 51% at 80% AMI / 49% Market |
| Total | 761 | $158,700,000 | |||||
Jack Traeger's full property involvement, including compliance and construction financial management roles, covers 63 properties and 14,207 units. See the complete REO schedule.
Site & deal criteria
What we are looking for
If you are holding a site, an allocation, or a deal that fits this box, that is the conversation we want.
- Markets
- Texas statewide. Closed communities in Dallas-Fort Worth, Denton, and San Marcos, with wider property involvement in Austin, Houston, Amarillo, and the Rio Grande Valley.
- Community size
- 200 to 300 units
- Project type
- New construction, and acquisition-rehabilitation
- Financing structures
- Tax-exempt bonds with 4% LIHTC, Public Facility Corporation (PFC), Essential Function Bonds, 9% LIHTC
- Populations served
- Family and senior renters, affordable, workforce, and mixed-income
- Our role
- Co-developer and sponsor alongside a regional or national developer partner, or as sponsor with a housing authority or PFC
Partner with us
Have a site or a deal that needs a sponsor?
Legacy Multifamily Development reviews land, acquisition-rehabilitation, and co-development opportunities across Texas.