Hacienda San Miguel is a proposed 140-unit new construction project to be developed on a 9.94-acre parcel in Donna, Texas.  The project will consist of 60 units committed to Section 8 vouchers (80% AMI) and 80 units will be market rate.

The improvements include 21 two- and three-story Class A apartment buildings.  The unit mix will consist of 43 1-bedroom units (700 SF), 63 2-bedroom units (894 SF), and 34 3-bedroom units (1,100 SF).   The units will feature standard appliances, dishwashers, laminate countertops, microwaves, garbage disposals, ceiling fans, laundry connections, vinyl flooring, carpet, coat closet, walk-in closets, and balconies/patios. 

Site amenities include a clubhouse, fitness center, coffee bar, security gate, pool, playground, on-site leasing office, detached garages, and storage units. 

Executive Summary:

Project Name:             Hacienda San Miguel

Section of the Act:      221(d)4 – New Construction

Type of Project:           60-units Section 8 (80% AMI); 80-units Market Rate

Number of Units:        140 Units

Mortgage Amount:     $14,000,700

Interest Rate               2.70% (Construction and Permanent)

Term:                          40-year Principal and Interest