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AMCAL Ranks 18th on a National Top Developer List

AMCAL was just ranked 18th on the list of top development firms by Commercial Property Executive and Multi-Housing News.

Since 1978, the AMCAL Group of Companies have developed more than $2.5 billion in high-quality multifamily housing projects consisting of more than 7,000 units throughout California, Texas and Washington. AMCAL has been consistently recognized for its solid financial performance and strong, conservative balance sheet which has enabled it to partner with some of the world’s leading financial institutions including Barings Multifamily Capital, Bank of America, JPMorgan, Comerica, Star America, Anchor Capital and many others.

See the top developer article and list at this link.

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AMTEX Starts Construction on Austin Senior Affordable Housing Community

Dallas, TX (December 16, 2019)—AMTEX Multi-Housing, LLC, announced today that it closed financing and started construction on Limestone Ridge Apartments — a multi-family affordable housing community being constructed in Austin at 7011 McKinney Falls Parkway.

When completed, Limestone Ridge Senior Apartments will be a community for 55+ seniors with annual incomes of up to 60% of the area median income (AMI), which in Travis County, is $45,420 for a two-person household. The community will offer 223 one- and two-bedroom units plus two 2-bedroom units allocated for on-site managers. The community will also feature a one-story clubhouse and will have 405 surface parking spaces or 1.8 spaces per unit.

Residents at Limestone Ridge will enjoy onsite amenities including a swimming pool, walking trail and a community garden, as well as close proximity to McKinney Falls State Park.

Social services will be available onsite at no cost to tenants. Examples of services provided at previous AMTEX projects include: a monthly character building program; quarterly financial planning courses; quarterly health nutrition programs; notary public services; twice monthly arts and crafts, and other recreational activities; twice monthly onsite social services events; an annual health fair and annual income tax preparation assistance.

The 225-unit project represents the second partnership between AMTEX and the Travis County Housing Finance Corporation, having previously partnered on McKinney Falls Apartments a 312-unit family apartment community that is in the final stages of construction and is scheduled for completion in April 2020. Construction on Limestone Ridge is expected to be completed in the Fall of 2021, with residents moving in immediately thereafter.

Limestone Ridge Apartments is the tenth affordable housing project for AMTEX Multi-Housing, Inc. in Texas that is either completed or under construction.

 “We appreciate the Travis County Housing Finance Corporation for partnering again with us on this project to bring 225 new apartment homes for seniors to the Austin community,” said Arjun Nagarkatti, President of AMTEX Multi-Housing. “When completed, Limestone Ridge will be a wonderful place for area seniors to call home.”

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