Riverside Heights
- Units
- 264
- Closed
- 2020
- Financing
- 4% LIHTC / TEL Bonds
- Bond & debt
- $55,000,000
Featured development 02
Legacy Denton Apartments
Family Rental Community • Denton, Texas
Overview
A 264-unit new construction, elevator-serviced family rental community on Denton's east side, diagonal from the rebuilt Denton Ryan High School. Developed as a joint venture between RISE Residential and Legacy Multifamily Development, financed with 4% LIHTC credits and interim TEL construction financing with a Freddie Mac permanent take-out. The project was sold permit-ready to a nationally recognized owner/developer.
Location
Denton's east side, Denton, Texas. Diagonal from the rebuilt Denton Ryan High School.
Amenity highlights
- 1, 2 & 3-bedroom floor plans
- In-unit washers & dryers
- Resort-style swimming pool
- Modern fitness center & yoga room
- Gated wrought-iron perimeter fencing
- Elevator access & carports
Deal facts
Legacy Denton Apartments at a glance
- Units
- 264
- Community type
- Family Rental Community
- Location
- Denton, Texas
- Closed
- 2022
- Financing
- 4% LIHTC / TEL Bonds
- Bond & debt
- $47,000,000
- Joint venture partner
- RISE Residential
- Affordability
- 100% at 60% AMI
- Construction type
- New construction
- Sponsor
- Legacy Multifamily Development, LLC (Jack Traeger, Owner)
Other developments
Heritage at Cottonwood Creek
- Units
- 233
- Closed
- 2024
- Financing
- PFC / Freddie Mac
- Bond & debt
- $56,700,000
Questions
Legacy Denton Apartments questions
How many units does Legacy Denton Apartments have?
Legacy Denton Apartments is a 264-unit family rental community in Denton, Texas, closed in 2022.
How was Legacy Denton Apartments financed?
Legacy Denton Apartments was financed with 4% LIHTC / TEL Bonds, totalling $47,000,000 in bond and debt financing. Affordability is set at 100% at 60% AMI.
Who developed Legacy Denton Apartments?
Legacy Denton Apartments was developed as a joint venture between RISE Residential 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.