Loan Amount: $7,125,000
Developer: RidgeGate K Investors LLC
The RidgeGate Apartments is a proposed 67-unit multifamily development providing 67 affordable housing units (100% of total) restricted to tenants with household incomes ranging from 30% to 80% of the area median income, featuring a mix of one, two, and three-bedroom units in a five-story building. It targets low-income households in a high-cost small difficult development area, offering affordability amid urban growth. The property is unique as part of the 440-acre Lone Tree City Center and 3,500-acre RidgeGate Planned Development District, providing access to future office, retail, medical, and residential amenities.