FTK Construction Services will rehabilitate a 168-unit affordable housing community in Houston.
The firm announced it has been awarded a contract of more than $14 million to extensively renovate the Coolwood Oaks Apartments. Built in 1984, the development features one-, two-, and three-bedroom apartments.
The property is owned by Fairstead, a nationally vertically integrated real estate company headquartered in New York that owns more than 27,000 apartment units nationwide. The architect for this project is affordable housing specialty firm DNA Workshop. Financing for the project is provided by PNC Bank, Houston Housing Finance Corp., and the Texas Department of Housing and Community Affairs.
The exterior renovation will include new roofs, siding replacement/repair, windows, and lighting. Additionally, there will be concrete accessible route modifications throughout the property. The interior renovation will consist of new paint, cabinets, countertops, appliances, doors, and plumbing and electrical upgrades. Kitchen updates will include new appliances, cabinets, and quartz countertops, along with tile backsplashes. Also included are new bathroom vanities and plumbing, new flooring, new interior doors, and more. Additional upgrades include new LED lighting, perimeter fencing repairs, as well as energy-efficient enhancements.
The management offices, community room, computer room, and other common areas will be renovated as well, with the addition of a pickleball court and a ping pong table area.
This is the firm’s second low-income housing tax credit project with Fairstead, according to Jim Goodman, CEO of FTK, a full-service general contractor with three divisions of multifamily expertise, including affordable housing preservation projects.