NRP breaks ground on 300-unit affordable housing project
HOUSTON – The NRP Group and World Premier Investments have broken ground on The Exchange, a 300-unit affordable housing complex at 1250 Leona St.
The Exchange will offer one, two, and three-bedroom units with amenities like a coworking-style business center, fitness center, luxury pool, 24/7 package reception space, and dog park.
At least 50 percent of the units will be set aside for rent- and income-restricted families earning less than 80 percent of the area’s median income.
The development, situated in an Opportunity Zone, is part of Hardy Yards, a 43-acre master-planned community that will have a music center, public parks, retail, restaurants, and grocery stores.
PGIM Real Estate Finance arranged $48 million in permanent financing.
The Real Estate Center has more information like this available online for free:
Source: Connect Media
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