ALLEN, Texas–(BUSINESS WIRE)–FTK Construction Services, LLC, (FTK) a full-service nationwide General Contractor specializing in Low-Income Housing Tax Credit (LIHTC) rehabilitation projects, is pleased to announce the contract award for Brandywine Apartments, located in Richardson, Texas. The contract for this LIHTC rehabilitation award is $4,267,543.
Brandywine Apartments, built in 1981, is an affordable rental community of 50 units for seniors 62+ years of age and individuals with mobility challenges. The property is located at 500 Rockingham Drive, Richardson, TX, 75080. The ownership group is National Church Residences, the architect for this project is Alliance Architectural, and the lender for the project is Capital One.
FTK will complete extensive interior and exterior renovations over a 12-month time frame. Exterior renovations will include new roofs, paint, and electrical upgrades. The interior renovation will encompass updating kitchens with new appliances, cabinets, and countertops; adding central air conditioning; new flooring; new interior doors and windows; fixture upgrades; and new plumbing. Additional upgrades include parking lot pavement, sidewalk repairs, new lighting, new perimeter fencing as well as energy efficient enhancements. Additionally, the community building will be renovated that will include a new kitchen and a renovated leasing and management office.
FTK, a leader in the Low-Income Housing Tax Credit (LIHTC) and Affordable Housing Project Management sector, has recently completed or has in-process over $163,000,000 in LIHTC projects with zero citations for compliance issues, and has completed 100% of their LIHTC projects on, or ahead of schedule. In February of this year, because of FTK’s demonstrated expertise, financial strength, completed LIHTC project portfolio and upcoming pipeline of projects, The Great American Insurance Company increased FTK’s bonding capacity from their previous $350,000,000 bonding capacity to $500,000,000.
Mark Frazier, COO of FTK Construction Services said, “We at FTK are thrilled to continue our partnership with NCR at Brandywine Apartments. We always look forward to making a positive impact on Senior Housing Developments.”
“FTK Construction Services has been amazing to work with throughout the planning process for the rehabilitation of Brandywine Apartments,” said Tracey Fine, director of housing development for National Church Residences. “I have been impressed with their heart for community and willingness to meet the needs of our residents in order to provide them with quality, safe and affordable housing in the prime years of their lives.”
FTK continues to ensure that all our project protocols comply with the latest Centers for Disease Control and Prevention (CDC) guidelines for preventing person-to-person transmission of COVID-19 as well as all emergency state and federal executive orders.
About FTK Construction Services
FTK Construction Services is a full-service construction company, with three divisions of Multifamily expertise: Affordable Housing/Low-Income Housing Tax Credit (LIHTC) projects, Multifamily Renovations and Disaster Services/Insurance related property damage restoration. FTK is a nationwide General Contractor with projects completed in 33 states to date.
About National Church Residences
National Church Residences serves more than 42,000 seniors through its array of housing and health care services. The not-for-profit organization is driven by a vision of advancing better living for all seniors, enabling them to remain home for life. With 340 communities in 25 states, it is the nation’s largest not-for-profit provider of affordable senior housing and the largest manager of service coordinators. The organization also offers residential senior communities, home and community-based services, as well as permanent supportive housing for the formerly homeless and disabled. For more information, visit us at NationalChurchResidences.org and follow us on Facebook, Twitter and YouTube.