fACTs: A Newsletter for
Affordable Housing Developers
The fACTs newsletter periodically provides information and resources to help Texas developers improve and enhance their programs. Originally targeted to developers participating in TSAHC's ACT program, we recently expanded the audience to include all developers in our network.
TSAHC Spotlight Series:
Hamilton Valley
On occasion, we like to spotlight the incredible work our development partners like you are doing across the state. For this iteration, we're turning our attention to Hamilton Valley Management (Hamilton Valley) and their portfolio of rural apartment communities they acquired to rehabilitate and preserve as affordable.

Their 21-property development portfolio includes 802 newly rehabilitated units of multifamily rental housing in 20 different communities across Texas. Most properties are located within rural or small urban areas, providing much needed affordable housing to residents of these communities.

Hamilton Valley is a property development and management company that specializes in affordable multifamily housing in rural areas of Texas. With nearly 4,000 units under their management, over 3,000 units developed into affordable housing, and more than 70 combined years of multifamily real estate knowledge, Hamilton Valley is a highly experienced affordable housing developer.

TSAHC issued approximately $36 million in private activity bonds along with $3.5 million in construction financing towards the acquisition and rehabilitation of these properties through the Texas Housing Impact Fund. The total budget for this 21-property development plan was $83.6 million.

The Seagraves Garden Apartments (featured above) are one of the newly renovated properties within the Hamilton Valley portfolio. Located in Seagraves, TX, this 32-unit multifamily apartment complex dedicates 100% of its units towards serving households who earn at or below 60% of the area median family income. 

Like all of the properties within this portfolio, the Seagraves Garden Apartments were originally built through financing from the USDA Section 515 program and were at risk of losing affordability when these Section 515 agreements expired. Hamilton Valley Management’s acquisition of these properties using TSAHC funds mean that the properties’ existing tenants were not displaced and the affordability of these rural rental properties has been preserved.
TSAHC Seeking Eligible Projects for
Use of Capital Magnet Fund Award
One of the primary sources of funding we used for the Hamilton Valley portfolio described above was a $3.75 million award from the Community Development Financial Institutions Fund we received in 2019.

Specifically, it was a Capital Magnet Fund award which seeks to spur investment in affordable housing and related economic development efforts that serve low-income families and communities across the country.  

The Capital Magnet Fund allows for the recycling of funds from one eligible project to another. That means we currently have the bulk of the original award available to deploy towards rental or homeownership projects throughout the state. However, the funds must be applied towards projects in economically distressed areas. You can search here to see if you have a potential development in one of those areas.

If you think you may have a development that could be eligible for a financial commitment from us via the Capital Magnet Fund, please contact one of our ACT program staff members below.
Affordable Homeownership Opportunity in San Antonio, TX
Available through TSAHC's Affordable Communities of Texas program, 1418 N Navidad is a 3 bed, 2 bath single family home with a list price of $200,000. While this home is currently under construction, we expect a certificate of occupancy in August.

This home sale is targeted to households earning at or below 80% AMFI for Bexar County. The home sale will include income eligibility requirements and evidence of mortgage pre-qualification. Participation in down payment assistance programs is highly encouraged.
ACT Program Contact Information
Dave Danenfelzer 
Senior Director 
Development Finance 
Cassandra Ramirez
Development Finance Manager

Erica Mitchell
Development Finance Program Coordinator