Financial Analysis - William Cannon

Details

January 30, 2024
September 14, 2025
·
TCFC CBRE Reports

Linked Documents

Hilltop Securities conducted an underwriting assessment for the William Cannon development with Savoy Equity, analyzing rent subsidies, property taxes, and public benefits. The project restricts 20.7% of units at 60% AMI, 30.7% at 80% AMI, and the rest at market rate. Estimated property taxes and developer fees were evaluated over 15 years. Public benefit percentages range from 78.69% to 151.8% depending on capitalization rates. Without a property tax abatement, the project risks falling below the minimum debt coverage ratio (DCR) for financing.

Projects

All projects referenced in this resolution.

183/E. William Cannon

Workforce/Affordable Housing
300
UNITS
183 and E William Cannon, Austin, TX
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