Campanile on Minimax will feature 117 homes for seniors in Houston.
Campanile on Minimax will feature 117 homes for seniors in Houston.

Plans for a mixed-income senior housing community took a major step forward with a roughly $16 million low-income housing tax credit (LIHTC) investment from Capital One.

In addition to the LIHTC investment, Capital One is providing a $10.9 million Section 221(d)4 loan for the construction and permanent financing of Campanile on Minimax in Houston.

The development will include 78 one- and 39 two-bedroom units. Ninety-three of the units will be restricted at 30%, 50%, and 60% of the area median income, and 24 will be unrestricted units.

“We are excited to provide much-needed affordable housing for seniors in this part of Houston, working alongside the premier and experienced team at Capital One,” said developer Les Kilday, vice president of Kilday Operating.

Campanile on Minimax will market six units to households with special housing needs, such as unhoused families and individuals, along with veterans, people with differing mobility needs, and people with differing hearing or vision capabilities. Resident services will include credit counseling, classes in basic adult education, exercise classes, annual health fairs, health screening services, counseling, health and nutrition courses, and social events.

“We are excited to invest in what we know will be a property of meaningful value to the Houston community,” Dan Miller, director of community finance at Capital One, said. “Seniors in Houston need housing that works for them at a rent they can afford, and Campanile on Minimax will respond to that community need.”