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Santa Fe Place Breaks Ground, To Provide 90 Affordable Homes to Families in Lubbock, Texas

UMBF
  • Overland Property Group, Hunt Capital Partners, the Lubbock Housing Authority, KRS Housing, UMB Bank, & ARCO broke ground on Santa Fe Place, a new affordable housing community in Lubbock, Texas.
  • The project will deliver 90 homes for families at the site located on the southeastern corner of 43rd Street & Justice Avenue.
  • Groundbreaking officials included Deputy Secretary of HUD Andrew Hughes, Lubbock Mayor Mark McBrayer, & former Texas Tech Chancellor Kent Hance.
  • Overland Property Group leads the development, with the Lubbock Housing Authority & KRS Housing serving as co-developers & ARCO acting as the general contractor.
  • Hunt Capital Partners syndicated $19.6 million in Federal Low-Income Housing Tax Credits to sustain long-term affordability.
  • UMB Bank provided an $18.8 million construction loan as the investor & lender.
  • All 90 homes will be restricted to households earning up to 30%, 50%, or 60% of the Area Median Income (AMI).
  • 27 homes will receive 20-year project-based rental assistance through Section 8 Housing Assistance Payments (HAP) contracts.
  • Upon completion, residents will access free health, youth, adult, & community support services alongside amenities like a clubhouse, playground, & dog park.
  • The location offers walking distance access to jobs, shopping, & recreation.