Boston Capital invested an undisclosed amount in the construction of Providence Town Square Apartments, a 188 unit multifamily development for seniors in Deer Park, TX.
The general partner is Providence Town Square Housing, Ltd, and the General Contractor is Blazer Building, Inc. based in Houston, TX.
“Boston Capital and Blazer Building are committed to helping seniors with low incomes live independently in affordable, high-quality housing,” said Jeff Goldstein, Chief Operating Officer and Director of Real Estate at Boston Capital. “Boston Capital’s equity investment in Providence Town Square Apartments adds another outstanding property to our portfolio while offering seniors in Houston and its surrounding communities a superior housing option in terms of unit design and amenities.”
The Providence location spans 6.8 acres and will offer 133 one bedroom and 55 two bedroom units that will feature nine foot ceilings, ceiling fans, emergency call systems, dishwashers, washer/dryer hook-ups and patios or balconies.
Development amenities will include a 10,560 square foot three-level common area featuring an outdoor lap pool, community room, media room, businesses center and exercise room. The development is located within close proximity to a supermarket, drugstore, medical facilities and senior services. The property will be available to seniors ages 55 and older at 60 percent or less of the area media income.
To date, Boston Capital said it has invested in more than 20,600 units of affordable housing in TX.