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4266 Duck Creek Dr. - Garland, TX 75043
PROPERTY Stats
1998
Placed in Service
300,346
sF
PROPERTY OVERVIEW
Centerville Pointe is a 250-unit mixed-income housing community located in Garland, TX. The property is conveniently situated minutes from major retailers, including Sam’s Club, Walmart Supercenter, ALDI, and Target. Numerous restaurants, outdoor recreation, schools, and major transportation arteries, including I-30 and I-635, are nearby as well.
The property was built and placed in service in 1998 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires 150 units to be rented to income qualifying residents earning no more than 50% & 60% of the Area Median Income (AMI) limits, which are provided by the Texas Department of Housing and Community Affairs. The remaining units are unrestricted. The property is beyond its initial compliance period and has extended use restrictions in place until 2038.
Centerville Pointe offers two, three, and four bedroom apartments and townhomes featuring spacious walk-in closets, washer and dryer connections, central air conditioning, gas hot water heater and furnace, ceiling fans, and fully-equipped all-electric kitchens that include a refrigerator, ice maker*, dishwasher, garbage disposal, and ample pantry storage. Community amenities include a clubhouse, business center, fitness center, swimming pool, volleyball court, basketball court, playground, on-site management and maintenance, and 24-hour emergency maintenance.
The LIHTC Restrictions expire at the end of 2038, allowing for a conversion to market at that time
Opportunity to assume attractive in-place Fannie Loan with a 5.06% interest rate
Ability to optimize voucher layout by re-allocating vouchers on 31 market units to affordable units
The MSA has experienced fantastic income growth over the last several years, with the HUD Median Family Income increasing from $71,700 in 2016 to $110,300 in 2024, which has directly resulted in strong growth in the LIHTC rental limits
Located in an excellent submarket on the northeast side of Dallas with the median household income above $74,000 within a one-mile radius and in close proximity to a number of employment drivers including, Kraft Heinz Company and Texas Instrument
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Jordan Skyles
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ID License #SP42885
208.631.4981
jordan.skyles@berkadia.com
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THOMAS BURNS
Managing Director
Multifamily
TX License #215719
972.458.6833
tom.burns@berkadia.com
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Dallas, TX 75225
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214.360.3849
tim.leonhard@berkadia.com
TIM LEONHARD
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504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
250
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300,346
601 Union St.
Suite 3909
Seattle, WA 98101
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Senior Managing Director
Affordable Housing
WA License #26367
253.653.3313
brandon.grisham@berkadia.com
BRANDON GRISHAM