Riverside Heights
- Units
- 264
- Closed
- 2020
- Financing
- 4% LIHTC / TEL Bonds
- Bond & debt
- $55,000,000
Featured development 03
Heritage at Cottonwood Creek
Family Rental Community • San Marcos, Texas
Overview
A 233-unit new construction family rental community off North State Hwy 123 in San Marcos, within walking distance of San Marcos High School and close to the Outlet Malls, dining, and entertainment. Developed as a joint venture between Cohen-Esrey and Legacy Multifamily Development under a PFC financing structure with interim construction financing and a Freddie Mac permanent take-out.
Location
North State Hwy 123, San Marcos, Texas. Walking distance of San Marcos High School, near the Outlet Malls.
Amenity highlights
- 1, 2 & 3-bedroom floor plans
- In-unit washer/dryer included
- Resort-style pool with kiddie pool
- Fenced dog park
- Fitness center & yoga room
- EV charging stations & secure storage
Deal facts
Heritage at Cottonwood Creek at a glance
- Units
- 233
- Community type
- Family Rental Community
- Location
- San Marcos, Texas
- Closed
- 2024
- Financing
- PFC / Freddie Mac
- Bond & debt
- $56,700,000
- Joint venture partner
- Cohen-Esrey
- Affordability
- 51% at 80% AMI / 49% Market
- Construction type
- New construction
- Sponsor
- Legacy Multifamily Development, LLC (Jack Traeger, Owner)
Other developments
Legacy Denton Apartments
- Units
- 264
- Closed
- 2022
- Financing
- 4% LIHTC / TEL Bonds
- Bond & debt
- $47,000,000
Questions
Heritage at Cottonwood Creek questions
How many units does Heritage at Cottonwood Creek have?
Heritage at Cottonwood Creek is a 233-unit family rental community in San Marcos, Texas, closed in 2024.
How was Heritage at Cottonwood Creek financed?
Heritage at Cottonwood Creek was financed with PFC / Freddie Mac, totalling $56,700,000 in bond and debt financing. Affordability is set at 51% at 80% AMI / 49% Market.
Who developed Heritage at Cottonwood Creek?
Heritage at Cottonwood Creek was developed as a joint venture between Cohen-Esrey and Legacy Multifamily Development, LLC, the Texas sponsor owned by Jack Traeger.
Partner with us
Let's build the next community together
Legacy Multifamily Development is always seeking experienced partners, lenders, and co-sponsors for our next affordable and workforce housing community in Texas.