Commercial Investment Services (CIS) is an active developer in the Texas metropolitan areas. CIS has completed developments totaling in excess of 2 million square feet representing over 2,000 new multi-family dwelling units for rent and for sale of new garden-style apartments and townhome/condo communities in the major Texas Metro areas. CIS is currently in the development of an additional $140 million of new projects which are, or will be, under construction by the end of the 2007. The following are summaries of CIS’ recent residential developments which can serve as references for CIS’ development capacity.
- The Waters at Elm Creek
| Located on the Northwest side of San Antonio this affordable development consists of 11 two and three story apartment buildings, clubhouse, swimming pool and many more amenities. All Buildings are of wood frame construction with Hardi Stucco Panels & Horizontal Siding exterior finishes. Nine Buildings have a Fire Sprinkler Alarm System. There are 5 different apartment floor plans available ranging from 1 to 3 bedrooms, anywhere from 500 to 1200 square feet. The Apartment Complex is conveniently located near several shopping centers, including the Huebner Oaks Shopping complex, numerous restaurants, and is in the awarded North Side School District. |
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| Project Size: |
200 Apartment Units |
| Project Completed: |
September 2000 |
| Construction Type: |
New Construction / Garden Style |
| Project Cost: |
$10,935,700 |
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- The Waters at Bluff Springs
This project is located along I-35, just south of Austin. This multi-rise project includes 13 two and three story garden style apartments, clubhouse, swimming pool, detached garages, and carports. |
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| Project Size: |
300 Apartment Units |
| Project Completed: |
July 2002 |
| Construction Type: |
New Construction / Garden Style |
| Project Cost: |
$18,654,257 |
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- Bishops Corner
Located in San Marcos, this 134-unit luxury townhome community was designed especially for the students attending Southwest Texas State. The project is gated, with beach entry swimming pool, and other amenities designed with the college student in mind. The units have upgraded cabinets, berber carpet, tile entries, and 2” mini blinds.
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| Project Size: |
134 Apartment Units |
| Project Completed: |
August 2002 |
| Construction Type: |
New Construction / Townhomes |
| Project Cost: |
$10,975,433 |
|
______________________________________________________________________ - Stablewood Farms
This apartment project is located on the West side of San Antonio. It consists of 16 buildings totaling 252 units, a clubhouse, and community center. This project includes a swimming pool with an equipment room and fitness center, detached garages, and carports.
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| Project Size: |
252 Apartment Units |
| Project Completed: |
April 2003 |
| Construction Type: |
New Construction / Garden Style |
| Project Cost: |
$16,738,108 |
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- Paseo Pointe Apartments
This project is located in Northeast San Antonio. The site consists of a clubhouse, and nine 2 & 3 story apartment buildings totaling 252 units. Specialty items include gated access and a swimming pool. The clubhouse includes a community room and exercise room. At Paseo Pointe residents have light spacious interiors featuring professionally designed finishes. Apartments are available with one, two, or three bedroom residences with utility rooms that include washer/dryer connections, pantries, as well as walk-in-closets. Paseo Pointe is fully landscaped, nestled among beautiful large oak trees, and has easy access to Wurzbach Parkway. |
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| Project Size: |
252 Apartment Units |
| Project Completed: |
June 2003 |
| Construction Type: |
New Construction / Garden Style |
| Project Cost: |
$15,066,300 |
| Website: |
PaseoPointe.com |
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______________________________________________________________________ - Providence Estate Townhomes
Located in San Antonio in the Medical center area just off Babcock and south of Prue Rd., this 106 unit luxury townhome project, all with attached garages, was designed as a Luxury “Class A” project to attract the Medical and USAA professionals. The project is a gated community with beach entry swimming pool and other amenities designed with the medical professional in mind. |
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| Project Size: |
106 Townhomes |
| Project Completed: |
December 2004 |
| Construction Type: |
New Construction / Townhomes |
| Project Cost: |
$10,186,000 |
| Website: |
ProvidenceEstatesTownhomes.com |
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______________________________________________________________________ - Riversquare Apartments
This project is located in Corpus Christi, Texas at the intersection of IH 37 and McKenzie Lane. This 9% LIHTC development consists of 204 units. The equity partner is PNC Multifamily Capital, and the debt provider is Keybank Real Estate Capital, which issued a credit enhanced FHA 221 (d4) GNMA. |
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| Project Size: |
204 Apartment Units |
| Project Completed: |
August 2005 |
| Construction Type: |
New Construction / Garden Style |
| Project Cost: |
$15,515,561 |
| Website: |
RiverSquareApartments.com |
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______________________________________________________________________ - Stonehouse Apartments
This project is located in Northwest San Antonio, at the intersection of Woodstone Drive and Vance Jackson. This 4% LIHTC/Bond development consists of 248 units. The equity provider is MMA Financial, LLC, and the debt provider is MMA Financial, LLC, with a non-rated bond issue by the San Antonio Housing Finance Corporation. |
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| Project Size: |
248 Apartment Units |
| Project Completed: |
August 2005 |
| Construction Type: |
New Construction / Garden Style |
| Project Cost: |
$17,224,429 |
| Website: |
StoneHouseApartments.com |
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- Bayview Apartments |
This project is located in Baytown, Texas at the intersection of IH 10 East and North Main St. This 4% LIHTC/Bond development consists of 240 units. The project is currently under construction with an expected completion and stabilization date of August 31st, 2007. The equity partner is WNC & Associates, Inc., and the debt provider is MMA Financial, LLC, with a non-rated bond issue by the Harris County Housing Finance Corporation. The construction start date was March 30th, 2006. |
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| Project Size: |
240 Apartment Units |
| Project Completed: |
August 2007 |
| Construction Type: |
New Construction / Garden Style |
| Project Cost: |
$23,760,957 |
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- Vista Verde Apartments |
This project is located in San Antonio, Texas at the intersection of North Frio Street and Salado Street. This 9% LIHTC at-risk rehabilitation development consists of 192 units. The project is currently under construction with an expected completion and stabilization date of August 31st, 2007. The equity partner is JER Hudson Housing Capital, and the debt provider is Keybank Real Estate Capital which issued a credit enhanced FHA 221 (d4) GNMA. The construction start date was June 1st, 2006. |
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| Architectural Rendering
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| Project Size: |
192 Apartment Units |
| Project Completed: |
August 2007 |
| Construction Type: |
New Construction / Garden Style |
| Project Cost: |
$16,854,654 |
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- Meadowlands Apartments |
This project is located in Houston, Texas at the intersection of Steepleway and Steeplechase just north of the intersection of Hwy. 290 and Beltway 8. This 4% LIHTC/Bond development consists of 236 units. The project is currently under construction with an expected completion and stabilization date of December 31st, 2007. The equity partner is MMA Financial, LLC, and the debt provider is MMA Financial, LLC, with a non-rated bond issue by the Texas Department of Housing & Community Affairs. The construction start date was September 30th, 2006. |
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| Project Size: |
236 Apartment Units |
| Project Completed: |
December 31st, 2007 |
| Construction Type: |
New Construction / Garden Style |
| Project Cost: |
$22,281,573 |
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- Navigation Pointe Apartments |
This project is located in Corpus Christi, Texas just north of the intersection of Bear Lane and Navigation Blvd. This 9% LIHTC development consists of 124 units. The project will begin construction in October, 2006, with an expected completion and stabilization date of December 31st, 2007. The equity partner is MMA Financial, LLC, and the debt provider is Keybank Real Estate Capital which issued a credit enhanced FHA 221 (d4) GNMA. |
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| Project Size: |
124 Apartment Units |
| Project Completed: |
December 31st, 2007 |
| Construction Type: |
New Construction / Garden Style |
| Project Cost: |
$11,443,940 |
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- Southpark Apartments |
This project is located in Austin, Texas at the intersection of Slaughter Lane and South 1st Street. This 4% LIHTC/Bond development consists of 192 units. The project is currently anticipated to begin construction December 1st, 2006 with an expected completion and stabilization date of March 31st, 2008. The equity partner is PNC Multifamily Capital, and the debt provider is CitiBank Capital World Markets, with a non-rated bond issue by the Strategic Housing Finance Corporation.
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| Project Size: |
192 Apartment Units |
| Project Completed: |
March 31st, 2008 |
| Construction Type: |
New Construction / Garden Style |
| Project Cost: |
$20,704,034 |
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- Chelsea Park Townhomes |
This project is located in North Arlington, Texas at the intersection of Pennant Dr. and Road to Six Flags, walking distance from the Texas Rangers Ballpark and new Dallas Cowboy’s Stadium. The project consists of 93 Condominiums for sale. The project is anticipated to start construction in December 2006 with an expected completion and sell out date of December 31st, 2008. |
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Architectural Rendering |
| Project Size: |
93 Condominium Units |
| Project Completed: |
December 31st, 2008 |
| Construction Type: |
New Construction / Townhouse Style |
| Project Cost: |
$21,721,877 |
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