NLR RAD Family Homes Project Photos

After (rendering)

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After (rendering)

Before

After (rendering)

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NLR RAD Family Homes

North Little Rock, AR
Number of Units: 382
Total Development Cost: $59,678,536
Development Type: 4% LIHTC
Development Partner: North Little Rock Housing Authority
Project Type: Family/Rehabilitation

Sources:

1st Mortgage: $17,271,600
Equity: $19,687,046
Developer Fee: $2,626,410
HOME: $
Seller Take Back:$17,443,480
Partner Loans: $2,000,000

Total Sources: $59,678,536

Project Narrative:

There are 3 project sites with a total of 382 Units. The sites will have an economic impact during the construction and renovation as well as long-term community revitalization impact. This development is and will remain a family development.

Holt District Homes (Formerly Known as Silver City Courts) has 127 units that will be demolished and 142 rebuilt. The Homes at Pine Crossing (Formerly Known as Eastgate Terrace) has 172 units with 14 being demolished and 165 total post construction. Hillside Pointe (Formerly Known as Windemere Hills) has and will remain a 75 unit site.

The Homes at Pine Crossing will undergo substantial rehabilitation, new construction, and unit reduction. Some modernizations will include completely rehabbed apartments with open living and floor plans, gated entry, compliant accessibility features, business center, new leasing office and community room.

Hillside Pointe will receive interior updates to kitchen, bathrooms, HVAC, systems, hot water heaters, and better accessibility features. Exterior upgrades are also planned.

Complex and unit amenities will include: professionally landscaped lawns, community buildings/office, frost-free refrigerator in all units, windows that are energy efficient and provide sustainable features, central air and heat that is Star compliant, and washer and dryer hookups provided in all units.