October 16, 2020
RE: Villas at Mesa Ridge
I am pleased to announce that we have closed our financing and commenced construction on Villas at Mesa Ridge, a 60 unit elderly tax credit community in Fountain, Colorado. Villas at Mesa Ridge with have 30 one bedroom / one bath units and 30 two bedroom / two bath units and will have a mix of 30%, 40%, 50% and 60% and 80% AMI set asides. The development will feature 1 three-story residential building that will include a fitness center, library, game room and a clubhouse / activities area. Residents must be age 62 or older and meet certain income requirements imposed under the federal tax credit program
Our financial partners on this community include Raymond James Tax Credit Funds, Bank of Oklahoma / Bank of Colorado, The Colorado Housing Finance Agency, El Paso County Housing Authority and The Colorado Division of Housing. The City of Fountain was instrumental in supporting this development and the Housing Authority of the City of Fountain is a partner in the development.
Villas at Mesa Ridge was developed by Zimmerman Properties, LLC and is our 1st development in the State of Colorado, and is being built by Bryan Construction, Inc.,and will be managed by Wilhoit Properties, Inc. The design team included Buxton-Kubik- Dodd, Inc. and Kaw Valley Engineering.
We anticipate the initial lease-up to commence in the Fall 2021. Zimmerman Properties has developed more than 100 affordable housing communities across the United States and is very happy to add the City of Fountain and the State of Colorado to our project list.
I would like to thank everyone who worked on this transaction and the patience and dedication that our team demonstrated in navigating this project through the delays created by COVID-19.
Robert C Davidson | Chief Financial Officer | Chief Operating Officer
Wilhoit Properties | Zimmerman Properties | Zimmerman Properties Construction
October 16, 2020
The Zimmerman group of companies includes Zimmerman Properties Construction, which has served as general contractor on more than 50 properties over the past decade alone. We’ve built our firm’s reputation on a comprehensive approach—developing, building, owning and maintaining affordable housing with a view toward creating communities.
New locations under construction at Zimmerman for completion 2020-2022
REDLAND CREEK – LAWRENCEVILLE, GA
RUTHERFORD PARK – MURFREESBORO, TN
WESTERN SPRINGS – DRIPPING SPRINGS, TX
SAVANNAH TERRACE – OKLAHOMA CITY, OK
TUPELO RIDGE – WARNER ROBBINS, GA
ASHTON ON THE GREEN – EL RENO, OK
BUFFALO TERRACE – CONCORD, NC
FLATS AT HICKORY WOODS – DAVIDSON COUNTY, TN
GLEN PARK APARTMENTS – SAN ANGELO, TX
HARVEST PARK APARTMENTS – PAMPA, TX
HILL COURT VILLAS – GRANBURY, TX
FLATS AT MOORELAND – SPRINGFIELD, TN
FLATS AT SAM LANE – RINGGOLD, GA
FLATS AT MT ZION – GEORGIA
VILLAS AT MT ZION – GEORGIA
VILLAS AT MESA RIDGE – FOUNTAIN, CO
September 21, 2020
Affordable housing in rural Palestine, Texas is Hampton Chase Apartments. The community is home to 76 working families with prime location near great schools and superior amenities. Hampton Chase and Hampton Village Apartments were developed by Zimmerman Properties, built by Zimmerman Properties Construction and professionally managed by Wilhoit Properties, Inc.
January 17, 2018
The Fall 2017 issue Affordable Housing News included a feature on Zimmerman Properties titled "Small Markets, Big Vision". The article includes key information on the benefits of vertical integration, locating in smaller markets and leaning on more than 30 years of expertise, along with direct quotes from company leaders.
October 3, 2017