What We Know About The Gibson

Details

Address

902 W Pioneer Pkwy and 2422 S Carrier Pkwy, Grand Prairie, TX 75051

Units

199

Floors

5

Developer

Aerofirma

Property Website

aerofirma.com

About

The Gibson is 199-unit apartment community in the city of Grand Prairie, it is a five-story apartment building,

Estimated Budget

$30,000,000

Timeline

Construction to start 3rd quarter of 2021, and completion anticipated in 2nd quarter 2023

Jan 24, 2022 - Dwight Capital provided a $32.4 MM HUD new construction loan for The Gibson, a proposed 199-unit apartment community located in Grand Prairie, TX. The property is conveniently located near primary transportation, retail, and major employment centers. The Gibson will be comprised of one five-story apartment building situated on 4.4 acres. Its amenities will feature a clubhouse, dog park, and rooftop patio. The loan includes a Green Mortgage Insurance Premium (“MIP”) Reduction set at 25 basis points because upon completion, the property will qualify as green/energy efficient housing. Managing Principal Josh Sasouness originated this transaction. (Dwight Capital)

Jan 26, 2022 - New York City-based Dwight Capital has provided a $32.4 million HUD construction loan for The Gibson, a 199-unit apartment community in the central metroplex city of Grand Prairie. The five-story building will be situated on a 4.4-acre site and will house studio, one- and two-bedroom units. Amenities will include a clubhouse, dog park and a rooftop terrace. Josh Sasouness of Dwight Capital originated the financing on behalf of the undisclosed borrower. Completion is slated for the first half of 2023. (Rebusiness Online)

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