Dive summary:
- Hebron 121 Station, a Denton County, Texas, project by Huffines Communities is moving into a 444-unit second phase on the site that is near a county rail station.
- The company and its lender are using a federal mortgage insurance program for multifamily projects, and the city of Lewisville is building a bridge for access and will be repaid by tax increment financing for a special district that includes the apartments.
- The first phase of the apartment complex, which was one of Texas' first transit-oriented developments, had 234 units in 2010 and is 98% occupied.
From the article:
"... In addition to developing the project, Huffines Communities also provided 100 percent of the equity, with financing provided by MUSA Financial L.L.C., doing business as Mortgages USA of Dallas. ..."