Passion for Housing

Photo of Percy Vaz

AMCAL CEO Percy Vaz is featured in the current edition of Affordable Housing Finance Magazine in an article titled “Passion for Housing.”

Brick by brick and town to town, the AMCAL group of companies does the hard work of building affordable and market-rate housing throughout California and Texas.

During its 40 years, the firm has developed more than 80 communities with 7,500 units and an equally impressive reputation for creating quality housing for families, seniors, and, more recently, college students.

Not bad for a company that Percival Vaz and his wife, Lux, began in their garage.

Armed with an entrepreneurial spirit, Vaz, the firm’s founder and CEO, emigrated to California from India in the mid-1960s to study electronics, earning bachelor’s and master’s degrees from the University of California at Los Angeles, with the idea of returning to his home country to open an electronics assembly plant.

This article originally appeared in Affordable Housing Finance Magazine. Read more of the article on that website.

Alton Park Nears Completion in Fort Worth

Alton Park apartments leasing center

AMTEX Development’s newest community in Fort Worth, Texas, is nearing completion.

Fort Worth Housing Solutions will celebrate its 80th anniversary this year with the grand opening of its newest multi-family affordable property, Alton Park, in northwest Fort Worth.

Alton Park joins four other mixed-income apartment communities opening this year thanks to the housing authority’s aggressive efforts to expand the supply of affordable housing in Fort Worth.

“We are happy to be working with both the city and a few select developers to deliver high-quality, affordable housing options for the residents of our rapidly growing city,” Mary-Margaret Lemons, the housing authority’s president, said in a news release. “Never in our 80 years of history have public/private partnerships been so critical to fulfilling our mission.

This article originally appeared in Fort Worth Business Press. Visit that news site to read more.

AMTEX Completes Parkdale Villas in Denison, Texas

Parkdale Villas pool area

AMTEX completed its newest project, Parkdale Villas, in Denison, Texas, and has been featured in the Herald-Democrat newspaper.

Parkdale Villas brings low-income housing to Denison

A new 144 unit apartment facility bringing low income housing to Denison opened earlier in the month.

The apartments utilize a new tax incentive to provide low income housing instead of relying on federal government programs, and according to the developer are already nearly rented out. Darin Hansen, vice president of forward planning and entitlements for Amtex Development, the developer of the property, said he was excited to bring these low-cost apartments to the city of Denison.