Walker & Dunlop announced that it arranged $29.6 million in federal Low-Income Housing Tax Credit (LIHTC) equity for the financing of Canyon Creek East, an affordable housing project in Lenexa, Kan.
Canyon Creek East will feature 212 multifamily units across five buildings. Upon completion, the development will offer a mix of one-, two- and three-bedroom units to accommodate diverse household sizes.
The Walker & Dunlop affordable equity team arranged the federal LIHTC equity, which will finance approximately 40 percent of the total development costs, on behalf of MRE Capital.
Canyon Creek East is part of the broader Cedar Canyon West development plan, which encompasses a mix of residential, commercial and recreational facilities. MRE’s development will provide affordable housing options to the community with units targeting households earning between 30 percent and 80 percent of the area median income (AMI). Furthermore, its location, proximate to majo
