Hunt Capital Partners Transfers Ownership in Affordable Housing Development to BHMC
Hunt Capital Partners has announced the successful transfer of its Limited Partner interests in Sunset Haven Apartments, a 100-unit affordable housing development in Brownsville, Texas, to the Brownsville Housing Management Corporation (BHMC). BHMC is an affiliated instrumentality of the Housing Authority of the City of Brownsville (HACB), which has long been at the forefront of creating and sustaining affordable housing opportunities in the region.
This transition represents a significant milestone in the long-term stewardship of the property and sets the stage for greater local control and long-term sustainability. Since opening its doors in 2008, Sunset Haven Apartments has played a crucial role in meeting the housing needs of Brownsville’s senior residents. Designed specifically for low-income seniors, the community serves individuals earning up to 30% and 60% of the Area Median Income (AMI), offering them not only safe and affordable housing but also a sense of dignity, stability, and community.
With the transfer of ownership interests, BHMC now has full autonomy over the property’s operations. This allows HACB and its affiliate to make decisions more swiftly, align property management strategies with community priorities, and better address the evolving needs of its residents. The move underscores a broader mission: ensuring that tax-credit-supported developments like Sunset Haven continue to serve vulnerable populations well into the future.
A New Era of Local Ownership
“This transition is more than just a change in ownership—it represents a strategic investment in the future of affordable housing in Brownsville,” said Carla Mancha, CEO at HACB/BHMC.
She emphasized that HACB has long had the goal of acquiring full ownership of its tax credit properties to secure their continued affordability. “On behalf of the HACB and BHMC Board, I extend my sincere appreciation to Hunt Capital Partners for helping to facilitate a smooth transition of the Limited Partners Ownership Interest of Sunset Haven,” Mancha said. “One of our goals is to acquire full ownership of our tax credit properties in order to assure they continue to serve the most vulnerable families in our community. HACB and BHMC will leverage on this acquisition to create new affordable housing opportunities in Brownsville.”
For HACB and BHMC, the acquisition of Sunset Haven Apartments is not simply a transaction—it is part of a larger strategy to preserve and expand affordable housing in a market where demand far exceeds supply. By maintaining full control, BHMC can reinvest in the property, improve services for residents, and explore new ways to integrate affordable housing with supportive services and community programming.
About Sunset Haven Apartments
Sunset Haven Apartments is a three-story affordable housing development built through the support of the Low-Income Housing Tax Credit (LIHTC) program, specifically using the competitive 9% housing credit. The property features a diverse mix of units tailored to seniors’ needs:
- 21 studio apartments
- 62 one-bedroom/one-bath units
- 17 two-bedroom/one-bath units
Designed with accessibility and comfort in mind, the apartments are intended to help seniors live independently while enjoying the security of a managed community. Beyond the units themselves, Sunset Haven offers communal spaces and amenities that encourage social interaction and help reduce isolation, a common challenge for elderly residents.
The development has been instrumental in allowing low-income seniors to remain in Brownsville, close to family and familiar community resources, rather than being forced to relocate due to rising housing costs.
Hunt Capital Partners’ Role
Hunt Capital Partners (HCP), a leading syndicator of LIHTC equity, has been a critical partner in the creation and preservation of affordable housing across the United States. Over the years, HCP has worked with housing authorities, nonprofit organizations, and developers to finance developments like Sunset Haven, which transform neighborhoods and provide much-needed resources to underserved populations.
“This transfer underscores HCP’s commitment to empowering local housing authorities like HACB to find creative solutions to provide affordable housing for its residents,” said Jeff Weiss, President at Hunt Capital Partners. “Hunt Capital Partners is proud to partner with HACB.”
Weiss highlighted that HCP’s goal is not only to structure and finance deals but also to ensure long-term stability and impact. By transferring ownership to BHMC, HCP demonstrates its belief that local control can strengthen housing communities and allow organizations closest to residents to make the most meaningful decisions.
Affordable Housing and ESG: Broader Implications
The transaction also reflects broader trends in Environmental, Social, and Corporate Governance (ESG) investing. Increasingly, institutional investors are seeking opportunities that deliver both financial returns and measurable social impact. Affordable housing, particularly developments like Sunset Haven, fits squarely within these goals.
Investment in affordable housing carries far-reaching benefits:
- Improved Living Conditions – By ensuring low-income seniors have safe, well-maintained homes, affordable housing developments enhance residents’ quality of life.
- Health Benefits – Research consistently shows that individuals living in stable, affordable housing experience better physical and mental health outcomes. A safe home reduces stress, supports healthier lifestyles, and allows residents to focus on preventive care.
- Economic Relief – Affordable rent means families and seniors spend less on housing, freeing up resources for essentials such as food, clothing, healthcare, and education.
- Community Stability – Stable housing strengthens neighborhoods by reducing turnover, fostering social ties, and creating safer, more engaged communities.
- Intergenerational Impact – Affordable housing investments ripple through generations, ensuring that today’s residents and their families have a secure foundation for long-term success.
For Hunt Capital Partners, these outcomes are more than metrics—they are the reason behind their continued commitment to affordable housing investments. The firm believes that projects like Sunset Haven are not only financially sound but also essential to creating healthier, more resilient communities.
