Santa Fe Place Breaks Ground, To Provide 90 Affordable Homes to Families in Lubbock, Texas

LUBBOCK, Texas--(BUSINESS WIRE)--Overland Property Group, Hunt Capital Partners, the Lubbock Housing Authority, KRS Housing, UMB Bank, and ARCO recently celebrated the groundbreaking for Santa Fe Place, a new affordable housing community that will bring 90 homes for families in Lubbock, Texas.

The event marks the official start of construction. Partners, community members, and housing leaders gathered at the site on the southeastern corner of 43^rd Street and Justice Avenue, including Deputy Secretary of U.S. Department of Housing and Urban Development (HUD)- Andrew Hughes, Lubbock Mayor- Mark McBrayer, and longtime politician and former Chancellor of Texas Tech University- Kent Hance. The groundbreaking ceremony featured remarks from the development team and partners, who addressed the growing need for affordable housing and the importance of providing stability and opportunity for families across West Texas.

The celebration reflects the strength of partnership built around a shared commitment to expanding access to quality affordable housing for Lubbock families.

The development is led by Overland Property Group, with Lubbock Housing Authority and KRS Housing serving as co-developers. ARCO will serve as the general contractor, with all parties bringing deep expertise in affordable housing and multifamily development.

“Breaking ground on Santa Fe Place is a long-awaited milestone that brings us closer to creating quality, affordable homes for 90 families in one of Lubbock’s best locations, with jobs, shopping and recreation within walking distance,” said Matt Gillam, Managing Partner at Overland Property Group. “We’re proud to partner with Hunt Capital Partners as syndicator and UMB Bank as investor and lender, along with our development partners Kent Hance, and the Lubbock Housing Authority, and excited for ARCO to bring this community to life. We’re also grateful to the Texas Department of Housing and Community Affairs for its support and commitment to making this development a reality.”

"The Lubbock Housing Authority has 274 public housing units and serves over 1,000 low-income families with HCV,” said Mike Chapman, Executive Director of LHA. “We are excited to be able to work with Overland Property Group and their partners to bring new, much-needed low-income housing to Lubbock.”

Hunt Capital Partners served as the tax syndicator for Santa Fe Place, syndicating $19.6 million of Federal Low-Income Housing Tax Credits, which will sustain affordability for years to come.

“Hunt Capital Partners is proud to work alongside our partners to bring more affordable homes to Lubbock," said Jeff Weiss, President of Hunt Capital Partners. "By combining affordable rents, long-term rental assistance, and supportive services, this community will open doors for families who need them most.”

UMB Bank served as the investor and lender for the development, providing an $18.8 million construction loan. UMB’s commitment to this development reflects its broader mission of investing in the communities it serves, backing projects that create opportunity and lasting stability for families.

“UMB is committed to Lubbock and the future of its residents, and providing funding for Santa Fe Place is just one way we can help address the community’s greatest needs,” said Eddie Broussard, West Texas Market President at UMB Bank. “We remain focused on making a difference locally, and we’re proud to be part of such an impactful project that will benefit the lives of the community members we serve.”

All 90 homes will be restricted to households earning up to 30%, 50%, and 60% of Area Median Income (AMI). In addition, 27 homes will benefit from project-based rental assistance through a 20-year Section 8 Housing Assistance Payments (HAP) contract with the Lubbock Housing Authority. Upon completion, residents can benefit from health, youth, adult, and community support services–free of charge, along with community amenities such as a clubhouse, community room, playground, picnic and barbecue areas, and a dog park.

About Hunt Capital Partners

Hunt Capital Partners (HCP) is the tax credit syndication division of Hunt Companies, Inc. (Hunt). HCP specializes in the sponsorship of Federal and State Low-Income Housing, Historic, and Solar Tax Credit investment funds. Since its inception in 2010, HCP has raised over $4.5 billion in tax credit equity in 55 proprietary and multi-investor funds, financing development in 48 states and territories. Founded in 1947, Hunt is a privately held company that invests in businesses focused on the real estate and infrastructure markets. The activities of Hunt's affiliates and investors include investment management, asset management, property management, development, construction, consulting and advisory. For more information on HCP, please visit www.huntcapitalpartners.com, or for Hunt, please visit www.huntcompanies.com

About Overland Property Group

Overland Property Group develops high-quality multi-family and senior communities across the Midwest and is one of the fastest growing developers. Overland Property Group was founded in Salina, Kansas, and over the past 20 years, they have developed communities across the Midwest in rural communities, urban downtowns, mountain-resort areas, and more. Overland Property Group’s experience across multiple markets and project types has taught them to engineer creative solutions, implementing sophisticated problem solving so they can deliver the highest level of quality and service to their partners and clients. For more information, visit overlandpg.com.

About UMB

UMB Financial Corporation (Nasdaq: UMBF) is a financial services company headquartered in Kansas City, Missouri. UMB offers commercial banking, which includes comprehensive deposit, lending, investment and retirement plan services; personal banking, which includes comprehensive deposit, lending, wealth management and financial planning services; and institutional banking, which includes asset servicing, corporate trust solutions, investment banking and healthcare services. UMB operates branches throughout Missouri, Arizona, California, Colorado, Iowa, Kansas, Illinois, Minnesota, Nebraska, New Mexico, Oklahoma, Texas, Utah, and Wisconsin. As the company’s reach continues to grow, it also serves business clients nationwide and institutional clients in several countries. For more information, visit UMB.com, UMB Blog, UMB Facebook and UMB LinkedIn.

About ARCO

ARCO is a premier, full-service design-build general contractor with more than 30 years of experience providing clients with complete project delivery throughout the United States. Our professional, qualified team of engineers, project managers, superintendents, and architects is capable of designing and building the most demanding construction projects anywhere in the country. We pride ourselves in offering the best, most cost-effective, single-source, turnkey solutions and adding value to every project. For more information, visit www.arcoconstruction.com.