10342 River Run
Corpus Christi, Texas 78410  map
Nueces County
(361) 241-8822

(361) 241-8855 (fax)

Units
Bdrms
Baths
SF
Rent
72
2
2
888
$250 - $750
72
2
2
962
$250 - $800
48
3
2
1,060
$288 - $850
12
3
2
1,171
$288 - $900
     204 Total
    

Management: Alpha-Barnes Real Estate Services
Year Constructed: 2006
Date of Closing: June 9, 2004
On-site Staff: 4
Land Area: 17 acres; 740,520 SF
Gross Building Area: 204,248 SF
Net Rentable Area:189,492 SF
Number of Buildings: 44
Number of Stories: 1 & 2
Parking Spaces: 492

 

 

 

 

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Riversquare Apartments

Amenities and Resident Services

Community amenities at Riversquare include a fully equipped clubhouse, a laundry room, an exercise facility, a furnished community room, a computer room, a swimming pool, a play recreation and picnic area, and perimeter fencing with controlled access gate.  Ten of the units are modified for mobility-impaired residents, and four are modified for sight and hearing impaired residents.  The development is staffed with an on-site resident services coordinator to coordinate activities and educational programs.  The Tuloso-Midway Independent School District is a partner that provides parenting support and literacy programs at the Riversquuare clubhouse.

Affordability

The Riversquare Apartments is a Low Income Housing Tax Credit (LIHTC) Development.  Rental rates are based on family incomes.  31 units are reserved for families whose income is less than 30% of the Area Median Income (AMI), 16 units are reserved for families whose income is less than 40% of AMI, 33 units are reserved for families whose income is less than 50% of AMI, 83 units are reserved for families whose income is less than 60% of AMI, and 41 units are market rate units.    

Financing

Riversquare was financed through $8,820,038 in LIHTC equity, a $6,149,600 221(d)(4) FHA-insured construction/permanent loan underwritten by KeyBank Real Estate Capital, and $433,750 in City of Corpus Christi HOME Funds. 

 

Additional Information

The development is owned by Corpus Riversquare I Apartments, L.P. The General Partner of the Limited Partnership is Merced-Riversquare, LLC, of which Merced Housing Texas is the Sole Member.

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