Steele Properties continues to monitor the current environment as the situation continues to change and evolve. We are, first and foremost, committed to the health and safety of our residents, team members, vendors, partners and the communities that we own and manage. We have adopted new policies and procedures during this crisis that follow the Centers for Disease Control and Prevention (CDC) recommendations and comply with all state and local government mandates to help reduce the spread of the virus.
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Built in 1971, Renata Square is a Project-Based Section 8 family property consisting of 160 units in 10, two-story, garden style buildings with a mix of one-, two- and three-bedroom apartment homes on 9.48 acres. It is located at 1811 East Avenue K in Temple, TX 76501. The property has recently completed renovations. The property received over $56,000 per unit in hard cost rehabilitation as part of Steele Properties’ acquisition. The scope of the renovation encompassed both extensive exterior and interior work. Apartment improvements included new kitchens and bathrooms, new flooring and new lighting.
Capital improvements included new roofs, HVAC repairs and façade improvements. Amenity upgrades included a renovated community center with a kitchen, computer room, laundry room, new library, new fitness center and Police Substation in partnership with the Temple Police Department; new outdoor picnic pavilion with new BBQ grills; and new playground. Other new features included life-safety upgrades, as well as accessibility improvements for sidewalks, parking and common areas.
This project is financed with 4% tax credits allocated by Texas Department of Housing and Community Affairs (TDHCA), tax exempt bonds issued by Bell County Housing Finance Corporation, permanent and construction financing provided by KeyBank, and tax credit equity provided by Raymond James.