Thank you for sharing!

Your article was successfully shared with the contacts you provided.

RIO GRANDE VALLEY, TX-Dallas-based Southwest Housing Development Co. is using $13.3 million of $29 million of debt and equity money from New York City-based Related Capital Co. to build two affordable housing complexes in the Rio Grande Valley. The balance is financing a Colorado project.

The Texas properties will be located in Harlingen and Brownsville. In addition to affordable housing, the properties will provide social services such as day care, adult education, computer tutoring, job placement services, after-school tutoring and social activities. The majority of the units will target families earning 60% or less of the median area income. About 5% of the units will be set aside for handicapped and developmentally disabled residents.

Harlingen’s Highland Gardens Apartments will be located on 12 acres at East Tyler Avenue between 19th and 21st streets. The 174 units will consist of two- to four-bedroom designs in 25 two-story, townhouse-style buildings. Unit sizes will range from 900 sf to 1,250 sf.

Brownsville’s El Dorado Village Apartments will be positioned on nine acres at the northwest corner of Padre Island Highway and Robindale Road. The 146-unit complex will contain two- to four-bedroom units in 12 two-story townhouse buildings. Unit sizes range from 900 sf to 1,350 sf.

Both projects feature such amenities as appliances, central air conditioning, mini-blinds, walk-in closets and patios with outdoor storage facilities. The clubhouse and common areas include a business center and computer lab, swimming pool, picnic area and playground.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.