Gardner Capital Development Awarded Oklahoma Low Income Housing Tax Credits for Affordable Senior Housing

EL RENO, Okla., Dec. 7, 2016 /PRNewswire/ -- Gardner Capital Development has been awarded a $4.7M reservation of affordable housing tax credits from the Oklahoma Housing Finance Agency to develop 46 one- and two-bedroom, energy-efficient, duplex, villa-style apartment units for seniors in El Reno. This $6M project will be known as Ridgeview Heights.

An apartment complex to the west, a neighborhood of attractive single-family homes to the east, and a mix of retail shops and restaurants to the south and west border the 12.5-acre site, located near downtown El Reno. With a population of 16,000+, the city of El Reno is located 25 miles west of downtown Oklahoma City in Canadian County.

All units will be leased to seniors, age 62+ with a mix of apartments set aside at 40-60 percent of Canadian County median income. Five of the units will be fully accessible for residents with physical handicaps. All units will include modern kitchens with energy-efficient appliances, washers and dryers, a private patio, and two surface parking spaces in close proximity to the unit's front door.

"The Ridgeview Heights Community will provide its senior residents not only with affordable housing, but with numerous upscale amenities, including a community room, fitness center, computer lab, shuffleboard court, and outdoor, covered picnic area," said Michael Gardner, President, Gardner Capital Development."

Construction of the development is anticipated to begin in the spring of 2017, with completion expected approximately 12 months after construction begins. Gardner Capital Development will serve as the lead developer for this project. Hans Thomas & Associates, is the project architect.

About Gardner Capital
Gardner Capital is an affordable housing and renewable energy tax credit development, syndication, and investment company with primary regional offices located in St. Louis, Dallas, San Francisco, Atlanta, and Springfield, Missouri. Since 1992, Gardner Capital has invested more than two billion dollars of equity in affordable housing. Renewable energy development and investment has been the more recent addition to the Gardner Capital operating portfolio, bringing hundreds of megawatts of solar projects online across the United States. The principals, Mark Gardner and Michael Gardner, continue to expand the company's national footprint in affordable housing and renewable energy with multiple offices across the United States. Visit www.gardnercapital.com for more information.

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SOURCE Gardner Capital

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