Texas Border Business
Madhouse Development Inc., (“Madhouse”), a real estate development firm based in Austin, Texas is pleased to announce the groundbreaking for the Avanti Valley View Apartments scheduled for October 18, 2020.
The Avanti Valley View development will be a high-quality, affordable apartment community for working families and active seniors. The new community with an estimate cost of $17MM will consist of 80 units on approximately 4.3 acres. The development is the result of a team effort between the City of Hidalgo, RBC Capital Markets, LLC, JPMorgan Chase Bank, N.A., and the Texas Department of Housing and Community Affairs and the City of Hidalgo. This Groundbreaking Ceremony marks the success of an effort by Mayor Sergio Coronado and members of the City Council to create housing and economic initiatives in their community.
Avanti Valley View became a reality as a result of Madhouse successfully receiving an allocation of housing tax credits from the Texas Department of Housing and Community Affairs in early 2020. In addition to providing the construction financing, JPMorgan Chase Bank also provided the permanent loan for the development. RBC Capital Markets provided the equity investment for the apartment community.
Regarding the pending construction of this new development, Henry Flores, Vice President of Madhouse, commented that, “Avanti Valley View is the result of a tremendous amount of effort on the part of all our partners. The development will create a quality lifestyle that we hope will exceed the community’s expectations.”
“This project is consistent with the kind of growth and success that Mayor Sergio Coronado and his team have been working on for the past 2 years, City Manager Julian Gonzalez commented.” “I am glad that our city staff has worked close with the Avanti group to make this project a reality.”
With gated and controlled access, Avanti Valley View will offer spacious one, two, and three-bedroom apartment homes. Individual homes include a variety of amenities such as nine-foot ceiling heights, gourmet kitchens, spacious walk-in closets, ceiling fans, outside storage rooms, microwaves, energy efficient frost-free refrigerators with icemakers, and covered patios/balconies. All units will display elegant, professionally selected colors, modern countertops, faux-wood, vinyl plank flooring, and decorative lighting.
An incredible clubhouse facility will feature a state-of-the-art fitness studio, a connected business center, a laundry facility, a fully equipped kitchen, and a large media room. The community offers a resort-style swimming pool with pavilion, extensive landscaping with BBQ areas, and a fully fenced children’s playground. These amenities will be shared by all residents of Avanti Valley View.
Avanti Valley View will be located near the northwest corner of Jackson Road and East Granjeno, Hidalgo, Texas 78539. Madhouse believes that the first units should be ready by December 2021.
Please call Henry Flores, Madhouse Development at (512) 982-1342 for further information about the development.