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CPC Mortgage Company, Mission DG close on $30 million construction loan for apartment complex in San Marcos

CPC Mortgage Firm LLC, a subsidiary of The Neighborhood Preservation Company (CPC), lately introduced the closing of a $30 million FHA Building mortgage for 216 inexpensive flats in San Marcos, which will probably be developed by Mission DG of San Antonio. 

The Lantana Flats will probably be developed on a 9.93-acre website on the nook of Rattler Street and Previous Bastrop Freeway — positioned throughout the road from San Marcos Excessive Faculty (2601 Rattler Street). The brand new residential buildings will embrace eight, three-story buildings that may embrace 84 one-bedroom, 56 two-bedroom and 76 three-bedroom models. Moreover, 163 models will probably be income-restricted to residents with a family earnings between 30% and 60% of space median earnings with rents beginning at $448 monthly for a one-bedroom unit.

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