Pepper Tree Manor
New Affordable Housing for Seniors in Houston, Texas
Situated on 15 acres in Houston, Texas, Peppertree Manor is comprised of 250 one- and two bedroom units. Constructed in 2006, Pepper Tree provides affordable upscale living for seniors aged 55 and older. Amenities include granite countertops, 9-foot ceilings, crown molding, and energy-efficient features. The community offers a lap pool, a vegetable and flower garden, a comprehensive fitness center, a fully equipped business center, library, clubhouse, and entertainment areas.
Total Cost
| $8,182,247 |
Description
Pepper Tree Manor income mix includes 125 units at or below 50% AMI and 125 units at or below 60% AMI.
Financing
Secured financing and funding for this project included:
| $3,950,000 | PNC Bank First Mortgage |
|---|---|
| $380,247 | Seller Funds |
| $3,852,000 | TDHCA 2nd Mortgage (NSP) Funds |