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1017 Birdsong Dr. - Baytown, TX 77521
PROPERTY OVERVIEW
Birdsong Place Villas is a 96-unit affordable housing community designed specifically for seniors aged 55 and above. It is situated in Baytown, TX, which is approximately 30 minutes away from downtown Houston. The property enjoys a convenient location, with major retailers such as Target and a Walmart Supercenter just minutes away. In addition, residents have easy access to a variety of restaurants, outdoor recreational activities, and major transportation routes in close proximity to the community.
The property was built and placed in service in 2008 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 30% & 60% of the Area Median Income (AMI) limits, which are provided by Texas Department of Housing and Community Affairs.
Birdsong Place Villas provides a selection of one and two bedroom apartment homes that showcase designer interiors. These homes are equipped with energy-efficient appliances, ceiling fans, mini blinds, washer/dryer connections, large walk-in closets, and spacious linen closets.
Residents of Birdsong Place Villas can also enjoy a range of community amenities. These include conversation areas, an activity center, a BBQ pavilion, a business center with wifi, a library, a game room, a fitness center, scheduled transportation services, gated entry, a beautiful courtyard, a morning coffee bar, social services, planned activities, and a clothes care center on each floor.
Senior LIHTC property with a variety of residential and community amenities
The property has experienced fantastic growth in the rent and income limits with an increase of 17.7% from 2021 to 2023 and an additional 2% projected in 2024
The property is operating at a significant rental discount to market comparables resulting in strong historical operations and low turnover
The property is located within an excellent submarket of the Houston, TX MSA with a median household income of above $66,000 within a 5 mile radius
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
601 Union St.
Suite 3909
Seattle, WA 98101
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Brandon Grisham
Senior Managing Director
Affordable Housing
253.653.3313
brandon.grisham@berkadia.com
INVESTMENT ADVISORS
MIKE TERRY
Director
Affordable Housing
425.761.1640
mike.terry@berkadia.com
Senior Managing Director
Multifamily
713.469.4513
chris.curry@berkadia.com
Chris Curry
2229 San Felipe
Suite 1600
Houston, TX 77019
HOUSTON OFFICE
MORTGAGE BANKING
Senior Managing Director
504.458.1626
tim.leonhard@berkadia.com
Tim Leonhard
Managing Director
504.722.1999
chris.crump@berkadia.com
Chris Crump
PROPERTY Stats
96
UNITS
2008
Built
74,100
sF
