FTK Construction Services, a full-service General Contractor specializing in Affordable Housing/LIHTC projects nationwide, is pleased to announce the launch of the preservation project for Seville Apartments in Beaumont, Texas. Seville Apartments is a 90-unit affordable housing community built in 1980. The contract value for the rehabilitation of the property is $4,511,127. The property is owned by Steele Properties, with property management overseen by their sister company Monroe Group Ltd., and the project duration is 12 months. The architect for the project is Benton Design Group (BDG), and the lender is Ready Capital.
The preservation project at this property will include both interior and exterior renovations. Specific enhancements include flooring, paint, appliances, countertops, cabinets and bathroom upgrades. Other updates will apply to roofing, HVAC, new picnic areas, the community room, computer room and other various site improvements.
FTK has completed several LIHTC projects for this client across the United States. Jim Goodman, FTK’s CEO said, “We feel very appreciative of the partnership we have with Monroe Group and Steele Properties. They provide the highest level of professionalism on every project, and for FTK, every project is an opportunity to continue to deliver our expertise and consistency. The Seville project is another notable example of engaging The Right Team, at The Right Time, with The Right Technology.”
Steele Properties, LLC is a Denver-based national real estate investment company specializing in the acquisition, rehabilitation and new construction of affordable housing rental properties.
