Reata West - A Multifamily Development

Since late 2008 I've had the opportunity to market a 224 unit apartment development project in Azle, TX by the name of Reata West. It's a 19 acre planned residential apartment complex with commercial frontage component to be built in two phases, optionally financed under HUD D-4 program. The unit mix of Reata is 1,2, and 3 bedroom units, 60 garages. The commercial component is 13,000 square feet and 6 units. The things that are completed are: market study, environmental study, architectural plans, engineering, wetlands study, and permits. The project conforms to HUD D-4 program requirements and has been previously approved by HUD. The reapproval process is currently available. The owner is also offering to lend up to $550k towards the prospective investors capital requirement.

I personally believe that this is an excellent investment opportunity and it has made since to a few individuals and development companies. There hasn't been an apartment complex contructed in Azle since the mid-90's. Unfortunately those past opportunity seekers tend to not close when all is said and done. Based off of my research and the market study, Reata West will be a great find for some lucky guy.