ALLEN, Texas--(BUSINESS WIRE)--FTK Construction Services, a full-service nationwide General Contractor specializing in Low-Income Housing Tax Credit (LIHTC) preservation projects, has completed the rehabilitation of Fairway Village Apartments, located at 513 Cold Town Lane in Dallas, Texas. The contracted amount of the project is $19,041,391.
Fairway Village Apartments, built in 1969, consists of 250 apartment homes in 19 two-story buildings, on 16.27 acres. The property is owned by Monroe Group based out of Denver, Colorado, in partnership with Steele Properties. The architect for this project was Benton Design Group and the lender for the project was KeyBank. This expansive project required and received approval from the Dallas City Council after an in-depth vetting process.
FTK completed extensive interior and exterior renovations at Fairway Village Apartments over a 22-month period. Exterior renovations included new roofs, paint, two new playgrounds, a new pavilion, central heating and air conditioning, sewer repair, and major plumbing and electrical upgrades. The interior renovation included updating kitchens with new appliances, cabinets, and countertops; bathrooms with new vanities, toilets, and tub surrounds; new wood plank flooring; new interior doors and windows; new fixtures; and new plumbing and electrical repairs. Additional upgrades included parking lot pavement, sidewalk repair, new LED lighting, new perimeter fencing as well as energy efficient enhancements. Also included in the project was a new community building with a kitchen, a new computer lab and a renovated leasing and management office.
COO Mark Frazier shared, “We very much appreciate being part of the team for this important project and thank The Monroe Group and Steele Properties for this opportunity. Many people worked very hard to make this vision a reality. It’s very satisfying to see residents already enjoying the new community building and the upgraded amenities, as well as their renovated apartments.”
About FTK Construction Services
FTK, a leader in the Low-Income Housing Tax Credit (LIHTC) and Affordable Housing Project Management sector, has recently completed or has in-process over $249,000,000 in LIHTC projects with zero citations for compliance issues, and has completed 100% of their LIHTC projects on, or ahead of schedule. Because of FTK’s demonstrated expertise, financial strength, completed LIHTC project portfolio and upcoming pipeline of projects, The Great American Insurance Company has allocated FTK a bonding capacity of $500,000,000. FTK Construction Services is a full-service construction company, with three divisions of Multifamily expertise: Affordable Housing/Low-Income Housing Tax Credit (LIHTC) projects, Multifamily Renovations and Disaster Services/Insurance related property damage restoration. FTK is a nationwide General Contractor with projects completed in 33 states to date.
To learn more, visit our website at ftkconstructionservices.com, and follow us on LinkedIn, Facebook, Twitter and Instagram.