Silver Springs
Home
Doc Center
Privacy
Terms of Use
tim leonhard
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
Contacts and Office Locations
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 Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Contact
Mortgage Bankers
Home
Silver Springs
Doc Center
Contact
Terms of Use
Privacy
Forest Park
SEATTLE OFFICE
601 Union St.
Suite 3909
Seattle, WA 98101
1088 Park Plaza Dr. - Austin, TX 78753
228 Units | PIS 2014
Multifamily LIHTC Property
12151 N. IH 35 - Austin, TX 78753
360 Units | PIS 2014
Multifamily LIHTC Property
LEARN MORE
2500 Bee Cave Rd.
Building 3, Suite 550
Austin, TX 78746
AUSTIN OFFICE
Managing Director
504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
Potential for a buyer to continue to partner with the existing Public Facilities Corporation and continue the full property tax exemption currently being received
Austin is home to the University of Texas - Austin, which has a total enrollment of nearly 52,000 students and has been a catalyst for economic activity for the greater area
Emerging and thriving business environment with Telsa, Apple, and Amazon, along with many others increasing their presence in the greater Austin area
Significant rental upside at the property as the recently released 2024 rent and income limits increased by 7.88% over 2023
Austin has experienced tremendous income growth with the HUD Median Family Income increasing by 62% from 2016 to 2024, directly resulting in equally strong growth in the LIHTC rental limits
INVESTMENT HIGHLIGHTS
Potential for a buyer to continue to partner with the existing Public Facilities Corporation and continue the full property tax exemption currently being received
Austin is home to the University of Texas - Austin, which has a total enrollment of nearly 52,000 students and has been a catalyst for economic activity for the greater area
Emerging and thriving business environment with Telsa, Apple, and Amazon, along with many others increasing their presence in the greater Austin area
Significant rental upside at the property as the recently released 2024 rent and income limits increased by 7.88% over 2023
Austin has experienced tremendous income growth with the HUD Median Family Income increasing by 62% from 2016 to 2024, directly resulting in equally strong growth in the LIHTC rental limits
INVESTMENT HIGHLIGHTS
Forest Park
LEARN MORE
Senior Managing Director
Multifamily
TX License # 506184
512.226.8706
kelly.witherspoon@berkadia.com
Kelly Witherspoon
INVESTMENT SALES
Director
Affordable Housing
MT License #89005
425.761.1640
mike.terry@berkadia.com
MIKE tERRY
Senior Managing Director
Affordable Housing
WA License # 26367
253.653.3313
brandon.grisham@berkadia.com
BRANDON GRISHAM
Photo GALLERY
Forest Park Apartment Homes is a 228-unit affordable housing community located in Austin, TX. The property is conveniently located minutes from major retailers, including Walmart, Hobby Lobby, and H-E-B. Numerous restaurants, entertainment, outdoor recreation areas, and major transportation arteries are nearby as well.
The property was built in 1996 and rehabbed and placed in service in 2014 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There are existing regulatory agreements in place which require all units to be rented to income qualifying residents earning no more than 60% of the Area Median Income (AMI) limits, which are provided by the Texas Department of Housing and Community Affairs.
Forest Park Apartment Homes is comprised of one, two, three, and four bedroom apartment homes featuring energy efficient appliances and HVAC, extra storage, washer/dryer connections, ceiling fans, and both carpet and wood plank vinyl flooring. Units also feature all electric kitchens with a dishwasher, microwave, refrigerator with ice-maker, and pantry. The community offers a swimming pool, fitness center, basketball court, YMCA after school programs, on-site laundry facility, picnic area with BBQ grills, and playground. Additional amenities include professional on-site maintenance and management.
PROPERTY OVERVIEW
PROPERTY Stats
228
UNITS
1996/2014
Built/Reno
238,200
sF
1088 Park Plaza Dr.- Austin, TX 78753
Terms of Use
Privacy
Contact
Doc Center
Silver Springs
Forest Park
Home
Photo GALLERY
Forest Park Apartment Homes is a 228-unit affordable housing community located in Austin, TX. The property is conveniently located minutes from major retailers, including Walmart, Hobby Lobby, and H-E-B. Numerous restaurants, entertainment, outdoor recreation areas, and major transportation arteries are nearby as well.
The property was built in 1996 and rehabbed and placed in service in 2014 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There are existing regulatory agreements in place which require all units to be rented to income qualifying residents earning no more than 60% of the Area Median Income (AMI) limits, which are provided by the Texas Department of Housing and Community Affairs.
Forest Park Apartment Homes is comprised of one, two, three, and four bedroom apartment homes featuring energy efficient appliances and HVAC, extra storage, washer/dryer connections, ceiling fans, and both carpet and wood plank vinyl flooring. Units also feature all electric kitchens with a dishwasher, microwave, refrigerator with ice-maker, and pantry. The community offers a swimming pool, fitness center, basketball court, YMCA after school programs, on-site laundry facility, picnic area with BBQ grills, and playground. Additional amenities include professional on-site maintenance and management.
PROPERTY OVERVIEW
PROPERTY Stats
228
UNITS
1996/2014
Built/Reno
238,200
sF
1088 Park Plaza Dr.- Austin, TX 78753
Terms of Use
Privacy
Contact
Doc Center
Silver Springs
Forest Park
Home
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 Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Managing Director
504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
tim leonhard
Mortgage Bankers
Senior Managing Director
Multifamily
TX License # 506184
512.226.8706
kelly.witherspoon@berkadia.com
Kelly Witherspoon
Director
Affordable Housing
MT License #89005
425.761.1640
mike.terry@berkadia.com
MIKE tERRY
Senior Managing Director
Affordable Housing
WA License # 26367
253.653.3313
brandon.grisham@berkadia.com
BRANDON GRISHAM
2500 Bee Cave Rd.
Building 3, Suite 550
Austin, TX 78746
AUSTIN OFFICE
601 Union St.
Suite 3909
Seattle, WA 98101
SEATTLE OFFICE
INVESTMENT SALES
Contacts and Office Locations
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 Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Managing Director
504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
tim leonhard
Mortgage Bankers
Senior Managing Director
Multifamily
TX License # 506184
512.226.8706
kelly.witherspoon@berkadia.com
Kelly Witherspoon
Director
Affordable Housing
MT License #89005
425.761.1640
mike.terry@berkadia.com
MIKE tERRY
Senior Managing Director
Affordable Housing
WA License # 26367
253.653.3313
brandon.grisham@berkadia.com
BRANDON GRISHAM
2500 Bee Cave Rd.
Building 3, Suite 550
Austin, TX 78746
AUSTIN OFFICE
601 Union St.
Suite 3909
Seattle, WA 98101
SEATTLE OFFICE
INVESTMENT SALES
Contacts and Office Locations
Photo GALLERY
Silver Springs Apartment Homes is a 360-unit affordable housing community located in Austin, TX. The property is conveniently located minutes from major retailers, including H-E-B and the shops at Tech Ridge. Numerous restaurants, entertainment, outdoor recreation areas, and major transportation arteries are nearby as well.
The property was built in 1996 and rehabbed and placed in service in 2014 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There are existing regulatory agreements in place which require all units to be rented to income qualifying residents earning no more than 60% of the Area Median Income (AMI) limits, which are provided by the Texas Department of Housing and Community Affairs.
Silver Springs Apartment Homes is comprised of one, two, three, and four bedroom apartment homes featuring energy efficient appliances and HVAC, extra storage, washer/dryer connections, ceiling fans, and both carpet and wood plank vinyl flooring. Units also feature all electric kitchens with a dishwasher, microwave, refrigerator with ice-maker, and pantry. The community offers a swimming pool, fitness center, basketball court, YMCA after school programs, on-site laundry facility, picnic area with BBQ grills, and playground. Additional amenities include professional on-site maintenance and management.
PROPERTY OVERVIEW
PROPERTY Stats
360
UNITS
1996/2014
Built/Reno
379,200
sF
12151 N. IH 35- Austin, TX 78753
Terms of Use
Privacy
Contact
Doc Center
Silver Springs
Forest Park
Home
Photo GALLERY
Silver Springs Apartment Homes is a 360-unit affordable housing community located in Austin, TX. The property is conveniently located minutes from major retailers, including H-E-B and the shops at Tech Ridge. Numerous restaurants, entertainment, outdoor recreation areas, and major transportation arteries are nearby as well.
The property was built in 1996 and rehabbed and placed in service in 2014 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There are existing regulatory agreements in place which require all units to be rented to income qualifying residents earning no more than 60% of the Area Median Income (AMI) limits, which are provided by the Texas Department of Housing and Community Affairs.
Silver Springs Apartment Homes is comprised of one, two, three, and four bedroom apartment homes featuring energy efficient appliances and HVAC, extra storage, washer/dryer connections, ceiling fans, and both carpet and wood plank vinyl flooring. Units also feature all electric kitchens with a dishwasher, microwave, refrigerator with ice-maker, and pantry. The community offers a swimming pool, fitness center, basketball court, YMCA after school programs, on-site laundry facility, picnic area with BBQ grills, and playground. Additional amenities include professional on-site maintenance and management.
PROPERTY OVERVIEW
PROPERTY Stats
360
UNITS
1996/2014
Built/Reno
379,2000
sF
12151 N. IH 35- Austin, TX 78753
Terms of Use
Privacy
Contact
Doc Center
Silver Springs
Forest Park
Home
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 Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Managing Director
504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
tim leonhard
Mortgage Bankers
Senior Managing Director
Multifamily
TX License # 506184
512.226.8706
kelly.witherspoon@berkadia.com
Kelly Witherspoon
Director
Affordable Housing
MT License #89005
425.761.1640
mike.terry@berkadia.com
MIKE tERRY
Senior Managing Director
Affordable Housing
WA License # 26367
253.653.3313
brandon.grisham@berkadia.com
BRANDON GRISHAM
2500 Bee Cave Rd.
Building 3, Suite 550
Austin, TX 78746
AUSTIN OFFICE
601 Union St.
Suite 3909
Seattle, WA 98101
SEATTLE OFFICE
INVESTMENT SALES
Contacts and Office Locations
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 Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Managing Director
504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
tim leonhard
Mortgage Bankers
Senior Managing Director
Multifamily
TX License # 506184
512.226.8706
kelly.witherspoon@berkadia.com
Kelly Witherspoon
Director
Affordable Housing
MT License #89005
425.761.1640
mike.terry@berkadia.com
MIKE tERRY
Senior Managing Director
Affordable Housing
WA License # 26367
253.653.3313
brandon.grisham@berkadia.com
BRANDON GRISHAM
2500 Bee Cave Rd.
Building 3, Suite 550
Austin, TX 78746
AUSTIN OFFICE
601 Union St.
Suite 3909
Seattle, WA 98101
SEATTLE OFFICE
INVESTMENT SALES
Contacts and Office Locations