FTK Awarded Ridgecrest Terrace LIHTC Rehabilitation Deal | Business enterprise

ALLEN, Texas–(Business enterprise WIRE)–Apr 1, 2021– FTK Construction Products and services, LLC, (FTK) a complete-support nationwide General Contractor specializing in Small-Money Housing Tax Credit (LIHTC) rehabilitation initiatives, is very pleased to announce that FTK has been awarded the deal for the building and rehabilitation of Ridgecrest Terrace Apartments in Dallas, […]

ALLEN, Texas–(Business enterprise WIRE)–Apr 1, 2021–

FTK Construction Products and services, LLC, (FTK) a complete-support nationwide General Contractor specializing in Small-Money Housing Tax Credit (LIHTC) rehabilitation initiatives, is very pleased to announce that FTK has been awarded the deal for the building and rehabilitation of Ridgecrest Terrace Apartments in Dallas, Texas. The sum of the deal award is $17,298,065.

Ridgecrest Terrace Flats, crafted in 1969, is a Task Based Part 8 household assets consisting of 250 apartment homes in 19 two-tale structures, on 16.27 acres. The assets, found at 526 South Walton Walker in Dallas, TX, is owned by Monroe Team based mostly out of Denver, Colorado, in partnership with Steele Houses. The architect for this venture is Benton Design and style Team and the financial institution for the project is KeyBank. This expansive project demanded and been given approval from the Dallas City Council right after an in-depth vetting process.

FTK will total extensive interior and exterior renovations at Ridgecrest Terrace Apartments about a 22-thirty day period time body. Exterior renovations will include things like new roofs, paint, central heating and air conditioning, sewer maintenance, and main plumbing and electrical upgrades. The inside renovation will encompass updating kitchens with new appliances, cabinets, and counter tops bogs with new vanities, toilets, and tub surrounds new wood plank flooring new interior doors and windows new fixtures and new plumbing and electrical repairs. Additional updates include things like parking good deal pavement, sidewalk repair service, new LED lighting, new perimeter fencing as properly as power productive enhancements. Also provided in the undertaking is a new local community making with a kitchen area, a new pc lab and a renovated leasing and management office environment.

FTK, a chief in the Minimal-Money Housing Tax Credit score (LIHTC) and Inexpensive Housing Challenge Management sector, has recently completed or has in-approach about $138,000,000 in LIHTC initiatives with zero citations for compliance concerns, and has completed 100% of their LIHTC jobs on, or in advance of schedule. In February of this 12 months, mainly because of FTK’s shown experience, economical power, completed LIHTC task portfolio and forthcoming pipeline of tasks, The Excellent American Insurance plan Organization greater FTK’s bonding ability from their previous $350,000,000 bonding capability to $500,000,000.

CEO Jim Goodman shared, “We are very happy to be awarded this undertaking, and grateful for our longstanding romance with Monroe Group and Steele Attributes. We intend to deliver an excellent concluded challenge to them and look ahead to continuing our partnership.”

FTK carries on to assure that all our venture protocols comply with the most current Centers for Disorder Manage and Avoidance (CDC) recommendations for blocking human being-to-human being transmission of COVID-19 as effectively as all emergency state and federal executive orders.

About FTK Construction Providers

FTK Design Expert services is a whole-support development firm, with a few divisions of Multifamily abilities: Cost-effective Housing/Small-Revenue Housing Tax Credit history (LIHTC) jobs, Sector Rate Renovations and Catastrophe Expert services/Insurance policy linked residence destruction restoration. FTK is a nationwide General Contractor with assignments completed in 33 states to day.

Watch source version on businesswire.com:https://www.businesswire.com/news/house/20210401005141/en/

Get hold of: FTK Construction ServicesSales Inquiries: Kim Goodman

[email protected] Inquiries: Kayla Prine

[email protected]

Key phrase: UNITED STATES NORTH The us TEXAS

Industry Search phrase: Building Units OTHER Development & Home Residential Building & Authentic ESTATE Construction & Assets City Arranging

Resource: FTK Design Services, LLC

Copyright Organization Wire 2021.

PUB: 04/01/2021 09:00 AM/DISC: 04/01/2021 09:01 AM

http://www.businesswire.com/information/property/20210401005141/en

Copyright Enterprise Wire 2021.

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