ALLEN, Texas--(BUSINESS WIRE)--FTK Construction Services, a nationwide General Contractor specializing in Affordable Housing/LIHTC projects, has been awarded the contract for the rehabilitation of The Park at Humble Apartments. The property, located at 9390 FM 1960, Humble, TX 77338, was built in 2005 and has 216 one, two and three bedroom townhome apartments. The value of the contract is $12,184,840. The lender for the project is Regions Bank.
The owner of the property is DevCo Residential Group, an integrated development and investment company headquartered in Washington, focused on multi-family communities. Founded in 1994, the company and its affiliates develop, own, and manage over 10,000 affordable and market rate apartments throughout the United States.
The construction start date is May 1st, 2023. Interior renovations will include paint, cabinetry, countertops, door hardware, plumbing fixtures, flooring, light fixtures, ADA unit conversions and HVAC replacements. Exterior renovations will include accessible walkways, parking area repairs, carport repairs, exterior lighting, a playground with canopy, new bike racks, dumpster enclosures, fence and gate repair, landscaping, signage, laundry room renovation and exterior trim and paint where needed.
Griffin Hitzel, Development Manager, Southwest for DevCo Development, said, “DevCo is excited to begin the renovations at Park at Humble apartments with FTK Construction. We look forward to getting our first project underway with FTK, and the start of a long relationship between our companies.”
Jim Goodman, FTK’s CEO, said, “After almost a year’s worth of prep, this is the first project FTK and DevCo are launching together. We are excited to be collaborating with them. It’s a great example of assembling the Right Team, at the Right Time, with the Right Technology for a successful project.”
About FTK Construction Services
FTK Construction Services is a nationwide full-service General Contractor, with three divisions of Multifamily expertise: Affordable Housing/Low-Income Housing Tax Credit (LIHTC) preservation projects, Multifamily Renovations and Disaster Services/Insurance related property damage restoration. FTK has completed projects in 33 states to date and has delivered over 5,000 Affordable Housing/LIHTC units. To learn more, visit our website at ftkconstructionservices.com, and follow us on LinkedIn, Facebook, Twitter and Instagram.
