Announcing the Groundbreaking Ceremony for Avanti Legacy Rosewood in Laredo, Texas.
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AVANTI LEGACY ROSEWOOD - RENDERING
Madhouse Development, Inc., (“Madhouse”), a leading real estate development firm based in Austin, Texas, is pleased to announce the groundbreaking for the Avanti Legacy Rosewood Apartments scheduled for August 16, 2024.
The Avanti Legacy Rosewood development will be a high-quality, affordable apartment community offering an independent-living environment for active seniors. With an estimated development cost of $24 million, this new community will feature 86 apartment homes spread across approximately 7.28 acres. The development is the result of a collaborative effort between the City of Laredo, RBC Capital Markets, LLC, Legacy Bank & Trust Company, Raza Development Fund, Inc., and the Texas Department of Housing and Community Affairs. This groundbreaking ceremony represents the success of dedicated efforts by Texas Representative Richard Peña Raymond, Mayor Victor D. Treviño, and members of the City Council to create affordable housing and economic initiatives in their community.
Avanti Legacy Rosewood was made possible by Madhouse’s successful application for housing tax credits from the Texas Department of Housing and Community Affairs in early 2022 and the Laredo Public Facility Corporation’s participation in the ownership of the development. Additionally, Legacy Bank & Trust Company provided both the construction and permanent financing for the development. Raza Development Fund, Inc., has also contributed a permanent loan and RBC Capital Markets provided the equity investment for the apartment community.
Regarding the pending construction of this new development, Henry Flores, Vice President of Madhouse, commented that, “Avanti Legacy Rosewood is the result of a tremendous amount of effort on the part of all our partners. The development will offer a quality lifestyle that we hope will exceed the community’s expectations.”
“Today is about progress and housing for the citizens of Laredo,” District VII Councilmember Vanessa Perez said. “Housing has become unaffordable for many people, and these are the types of projects we need to combat that.”
Avanti Legacy Rosewood will offer spacious one- and two-bedroom apartment homes with a wide variety of amenities, including nine-foot ceiling heights, gourmet kitchens, spacious walk-in closets, ceiling fans, outside storage rooms, microwaves, and energy efficient frost-free refrigerators with icemakers. All units will display elegant, professionally selected colors, modern countertops, faux-wood vinyl plank flooring, and decorative lighting.
An incredible clubhouse facility will feature a state-of-the-art fitness studio, a business center, a laundry facility, a fully equipped kitchen, and a large media room. Residents will also enjoy a well-manicured courtyard featuring a trellis, seating areas, extensive landscaping, and barbecue areas.
Avanti Legacy Rosewood will be located at 317 International Boulevard, near the southwest corner of International Boulevard and Springfield Avenue, Laredo, Texas 78045. Madhouse believes that the first apartment homes will be ready for occupancy by December 2025.
