Enclave at Lake Pointe Apartments

Virtual Opportunity Day & Pre-Bid Recording

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Questions Due: Monday, July 20, 2020 5:00p.m.

Bid Dues: Thursday, July 23, 2020 2:00p.m.

About Us

Magellan Housing Company Overview


"maintaining the highest standards in
architectural design, density scope and scale"


Magellan-Enclave at Lake Pointe Apartments will soon be offering senior citizens a beautiful new and convenient affordable housing option. Just off Beltway 8 in north Houston, this 132-unit development is designed as two buildings of three stories each. The development will offer two different floor plans for one-bedroom, one-bath units and three designs of two-bedroom, two-bath units. The two apartment buildings will surround the pool, clubhouse, fitness center, and dog park. It is close to some of north Houston’s most beautiful green spaces such as Sheldon Lake State Park as well as fabulous Lake Houston.


The principals of Magellan Housing are among the most respected and trusted industry leaders in the acquisition, development, marketing, and management of affordable and workforce housing communities in Texas and Florida. Our institutional partners are among the largest and most dedicated investors in America’s communities. Magellan leads efforts to improve the housing industry through leadership roles with local, state, and national industry organizations, boards, and advocacy roles.


Magellan Housing has developed over 1,500 multifamily housing units with a cost basis in excess of $350 million. We have vast experience in partnering with not-for-profits, community groups, and faith-based groups to meet and exceed community objectives and benefits - including innovative educational opportunities, job creation programs, and economic development. Magellan prioritizes its social role and responsibility in the communities that it enters. We are committed to incorporating the latest environmental green building features, restoring and preserving historic sites, creating art in public places, and maintaining the highest standards in architectural design, density, scope and scale.

Enclave at Lake Pointe

Independent Senior Living Apartments

Development Quick Facts


As of July 8, 2020

Developers

  • Magellan Housing TX, LLC.
  • Royal American Development, Inc.

General Contractor

  • RA Construction, Inc.

Architect

  • Element Architects LLC.

Project Overview

  • Independent Senior Living Facility
  • Apartment Units: 132
  • Complex: 3-Stories, 3-Buildings
  • On-Site Amenities: Pool, clubhouse, dog park, & fitness center
  • Project Timeline: 16-month construction project
  • Approximate Trade & Supplier Specialties Needed: 30

Funding Sources

  • CDBG-DR Financing: $12,720,000
  • Tax Credit Financing: $6,726,774
  • Low Income Housing Tax Credits: 4%
  • Tax-Exempt Multi-Family Revenue Bonds: Financed by Harris County Housing Finance Corporation
  • Private financing: $8,001,444
  • Total Project Budget: $27,448,218

Minority and Woman-Owned Business Enterprise Participation

  • M/W/BE Participation Goal: 34%

HUD Section 3 Participation Goals

  • New Hires: 30%
  • Construction-Related Hard Cost: 10%
  • Construction-Related Soft Cost: 3%

Davis-Bacon & Related Acts Project

Our Projects

Previous Projects Built

Braeburn Village
Houston, TX


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Plaza at the Lyric
Miami, FL


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The Pearl
Miami, FL


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Villa Del Prado
Houston, TX


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Projects in Development

Chapman Crossings

Houston, TX

Chapman Crossings is a 102-unit family project in NE Houston financed through a combination of 9% Housing Tax Credits and debt from Citibank, Freddie Mac and Harris County Housing Finance Corporation. Delivery will be December 2018.

The Jasmine

Miami, FL

Jasmine is a 96-unit senior living project in the heart of the Little Havana neighborhood of Miami. The $32 million, 8-story midrise development is financed through a combination of Housing Tax Credits and Miami Dade County Surtax.