AMCAL Multi-Housing and AMTEX Multi-Housing have taken big steps toward developing workforce housing communities in Santa Ana, Calif., and Austin, Texas.

In partnership with the city of Santa Ana, AMCAL Multi-Housing announced that it closed financing on a new 69-unit apartment community in Santa Ana. Bank of America Merrill Lynch is serving as the equity investor as well as the construction and permanent lender for the project. Construction will commence at the site in May with the demolition work of an existing deteriorating office building.
First Street Apartments will feature two-, three-, and four-bedroom homes for larger families, with rents ranging from $649 for a two-bedroom unit to $1,744 for a four-bedroom apartment. Half of the units will be affordable for households earning 30% of the area median income (AMI).
Designed by Santa Ana–based William Hezmalhalch Architects, First Street Apartments will also feature a 2,008-square-foot community room that will provide space for educational and social services for residents. The community room will include a computer room, a kitchenette, office space, and a media area. Social services will include adult education and health services, such as computer training, job training, English-as-a-Second Language classes, nutrition programs, and parenting classes.
The project is scheduled for completion in September 2019.
AMTEX Multi-Housing has closed financing and will start construction on the 312-unit McKinney Falls Apartments in southeast Austin.The development will be directly across from McKinney Falls State Park and less than 20 minutes from downtown Austin.

McKinney Falls Apartments was awarded 4% low-income housing tax credits from the Texas Department of Housing and Community Affairs. The ownership partner on the project is the Travis County Housing Finance Corp., which will serve as the general partner.
Located on an 18-acre site, McKinney Falls Apartments will be situated close to an HEB grocery market, a pharmacy, and a retail mall, in addition to three schools and churches.
The new apartment community will have a unit mix with the following designations: 17 units will be rented to families earning 50% of the AMI, 279 units will be rented to families earning 60% of the AMI, and 16 units will be offered at market rate.
The community will feature a traditional stone exterior with 12 three-story, garden-style residential buildings. Amenities will include a large community building with a fitness room, a pool, barbecue areas, a children’s playground, a bicycle storage area, and a large open-space lawn area.
Mason Joseph Co. and PR Mortgage & Investments originated and provided a FHA 221(d)(4) loan, facilitating construction and permanent financing guaranteed by the Department of Housing and Urban Development. CREA is the project’s equity partner. The Office of the County Executive for Travis County Health and Human Services is also providing funding through the Community Development Block Grant program.
AMTEX Multi-Housing is part of the AMCAL and AMTEX Group of Companies. Founded in 1978, the AMCAL Group of Companies is one of the nation’s leading housing development companies, developing rental and ownership residential properties throughout California, Texas, and Washington, including affordable, luxury apartment, and student housing.