Summary

Antioch Woods and Valencia Hills are both Class C Multifamily properties located in the greater Kansas City metro area.  Valencia Hills was formerly known as Sedona Point.  Antioch, a 90 unit property is located in Overland Park, while Valencia Hills, a 352 unit property is located in Shawnee.  Both properties were renovated under the Low Income Housing Tax Credit Program in 1995 and 1996.  The properties are located in the affluent Johnson County, which ranks number one in residential growth in greater Kansas City adding, on average, 10,000 new residents each year for the last ten years.  Additionally, Johnson County and is one of the country’s fastest growing commercial centers fueled by an abundant, well-educated labor pool, excellent housing, nationally ranked schools, high quality of life, and the recognition by major corporations as an area with inherent location advantages and a top quality labor supply.  Antioch Woods’ population within a three mile radius is 94,995, with an average household income of $80,841. Valencia Hills’s population within a three mile radius is 86,952, with an average household income of $69,921.

At Valencia Hills, the investment strategy is to perform an exterior renovation, expand and enhance the community amenities, and capitalize on the improvement of the surrounding market.  The primary strategy at Antioch Woods is to renovate and upgrade the unit interiors.