Donaghey Court

801 German Lane, Conway, AR 72034
Status: Available
Year Built: 2005
Price: $1,400,000
Price Per Unit: $35,000
Price Per SF: $43.48
# of Units: 40
# of Buildings: 1
# of Stories: 3
Rentable SF: 32,200
Lot Size: 2.26 Acres
Density: 17.70 Units/Acre

Quick Stats:

  • Conway is Part of the Little Rock-North Little Rock-Conway MSA Faulkner County AMI Grew 6.08% From 2017 to 2018
  • Conway is Home to Hendrix College, the University of Central Arkansas, and Central Baptist College
  • The City of Conway grew by 36.47 % from 2000-2010 and the County of Faulkner grew by 31.6 % in the same time period

Description:

Donaghey Court is a 40-unit affordable housing community in Conway, AR, conveniently located with easy access to Interstate 40 & Highway 60. The property is located within minutes of restaurants, healthcare, numerous shopping venues, and the University of Central Arkansas.

The property was built and placed in service in 2005 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place with Arkansas Development Finance Authority, which requires 32 units to be rented to income qualifying tenants earning no more than 30% and 60% of the Area Median Income. The remaining units are unrestricted. The property is still within its initial 15-year tax credit compliance period.

The property is comprised of one and two bedroom apartment homes. Resident amenities include high speed internet, on-site laundry facilities, air conditioning, patios/balconies, playground, and easy access to area amenities.

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