Helping to meet the growing demand for affordable housing, Gardner Capital, a family-owned private equity firm specializing in multifamily housing and renewable energy development and investment, recently completed Provision at Patriot Place in Hurst, a part of the Ft. Worth-Arlington metro. Provision at Patriot Place is now open for leasing, with a mix of one-, two- and three-bedroom units.
Citibank served as the tax equity partner as well as construction lender and permanent lender for the project while Treymore Construction was the general contractor for Provision at Patriot Place. Gardner Capital received 9 percent tax credits to support construction.
"As this area continues to grow in size and scope, so does the need for affordable housing," said Michael Gardner, President and CEO of Gardner Capital. "We are pleased to deliver a brand-new and welcomed addition to the local market and look forward to supporting the demand for affordable housing throughout the state of Texas." Gardner Capital's Alternative Investments Platform will provide additional funding related to renewable energy and electric vehicle charging components for the project.
Located at 501 W. Hurst Blvd. in Tarrant County, Provision at Patriot Place is a garden-style apartment building with 90 total units. Amenities include a swimming pool, clubhouse, fitness center, business center and more. Alpha Barnes will serve as property manager.
