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Developer seeks city help on Patriot Point apartments; HUD loan commitment and Dec. 15 timeline cited
Summary
Eddie Valencia, the developer of a proposed 114‑unit Patriot Point townhome project, told the City Commission he has a HUD 221(d)(4) loan commitment and asked the city to consider assistance with perimeter sidewalks, waiving water and sewer tap and impact fees, and accepting dedication of internal infrastructure.
Eddie Valencia, the developer of the proposed Patriot Point apartments, told the City Commission he has a HUD 221(d)(4) commitment letter for a $21,000,000 loan and asked the city to consider helping with perimeter sidewalks, waiving water and sewer tap and impact fees, and accepting dedication of internal infrastructure. “The commitment in and of itself…is an insurance policy by the federal government that ensures me as a developer, to successfully build this project,” Valencia said. Valencia said the 114-unit gated townhome project would include a clubhouse, pool, gym and other amenities and that he is the general contractor and owner entity for the project. He told the commission he has a…
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