“Merchants was able to demonstrate our array of innovative affordable housing financing products economically and efficiently to deliver for Sena Affordable Communities in an expedited timeframe.”
Michael Milazzo SVP, Originations

Merchants Capital provided a $69.15 million Freddie Mac 4% Low-Income Housing Tax Credit (LIHTC) Immediate TEL loan and $37.6 million in LIHTC equity as the syndicator. Merchants Bank provided a $29 million equity bridge loan during the rehab period.

“We are excited to continue our relationship with L+M Development Partners and TCC Hill Country Development Corp—and close our first transaction with Silver Tree,” said Marcin Dzido, Vice President of Acquisitions at Merchants Capital. “The Travis Park renovation ensures that 199 low-income families have safe, high-qualify housing for years to come.”

Sena Affordable Communities, an affiliate of L+M Fund Management (LMFM), is a dedicated acquisition rehabilitation business known for strengthening communities with innovative affordable housing solutions to significantly reposition assets with Low-Income Housing Tax Credits and tax-exempt bond financing.

The Travis Park Apartments rehabilitation will involve improvements to the grounds, building exteriors, unit interiors and deferred maintenance across 22 buildings. The scope of work includes the addition of new outdoor recreation areas, playgrounds, extensive accessibility upgrades, window replacement, new boiler and cooling towers, kitchen and bathroom improvements, new energy star appliances, replacement of original fan coil units for heating and cooling, building envelope upgrades, roof replacement and signage.

A Freddie Mac Impact Sponsor, L+M Development Partners and its affiliated companies, including LMFM and Sena, have more than 55,000 high-quality residential units in construction or acquired, preserved or completed in markets across the United States.

“With funding now secured for Travis Park Apartments, we look forward to protecting its long-term affordability and delivering critical improvements that will enhance the quality of life for all residents,” said Jeffrey Moelis, Managing Director, Sena Affordable Communities. “Our planned upgrades, combined with Travis Park’s optimal location near downtown Austin, will ensure this community can thrive for decades to come, especially as the area continues to boom. We are grateful to our partners at Merchants Capital for their work in helping us reach this milestone.”

Travis Park Apartments is located in South Central Austin, with regional access to Interstate 35, US Highway 290 and MoPac Expressway, and near downtown entertainment districts and outdoor attractions, including the riverwalk.

Renovations are expected to be completed in 18 months. To learn more about Merchants Capital and its services, visit www.merchantscapital.com or find Merchants Capital on Facebook, X, LinkedIn and Instagram.

Clairo captivated the audience at ACL Live in Austin, TX, delivering an intimate and passionate performance that highlighted her evolving artistry.

Claire Cottrill, better known as Clairo, visited Austin, TX, for a two-night stop at the renowned ACL Live at The Moody Theater. Clairo has been posting music on the internet since she was a teenager. In 2017, her lo-fi single “Pretty Girl” went viral. As her popularity has grown so has her discography. She now has three studio albums released, the most recent being Charm which came out in July. Clairo had downtown Austin buzzing despite it being a Monday night. With the line wrapped around the block, fans excitedly waited for doors to open. 

Supporting Clairo is South African singer-songwriter Alice Phoebe Lou. Alice Phoebe Lou is based in Germany and has self-released all of her albums. In July, she released the single The World Above. She quickly captivated the crowd with her charisma and angelic voice. She opened her set with her 2020 single “Touch,” followed by “Open My Door,” which many audience members seemed to know. As she held the crowd in a trance, she played “Dirty Mouth” from Glow (2021) and closed with “Witches.”

As the crew began to build Clairo’s stage in between sets, audience members soon realized the theme of the stage decoration. The stage took the form of a 1960s conversation pit with benches that allowed them to sit on the ground in a circle. When the band walked onto the stage, that’s exactly what they did. Before the show started, Clairo and her band sat on the ground in a circle, had a drink, and listened to “After Laughter (Comes Tears)” by Wendy Rene before finding their instruments spread across the rest of the stage. They opened with the title track “Nomad” from Charm. The beautifully lit stage made for amazing visuals. She, of course, had to perform some classics such as “Softly” and “Flaming Hot Cheetos.” 

About mid-set, Clairo announced she would be performing a song she’s never played live. The audience went crazy as the band started to play “Harbor” from her sophomore album Sling. Following that, they played “Partridge” and “Pier 4.” Then, after inviting everyone to dance to the next song, she played the upbeat track “Amoeba.”

Before closing her set and during the intro to the last song, she introduced her amazingly talented band. They closed with “Juna,” and then waved goodbye to the adoring audience.

Clairo is set to tour the rest of North America until the holidays begin in November. Next year, she is planning on making her way to Europe for a dozen shows spread across the continent. 

CLAIRO
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ALICE PHOEBE LOU
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THE MOODY THEATER
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AUSTIN, Texas — Beginning in the spring of 2025, Delta Air Lines will launch five new nonstop routes from Austin, Austin-Bergstrom International Airport announced Monday.

The first service from the capital of Texas will be to Panama City starting on March 9. Flights to Indianapolis and Memphis will launch on May 7, while trips to San Francisco and Tampa will begin June 8. 

“Delta’s decision to expand its service in Austin is a testament to our city’s thriving economy and vibrant community,” said T.C. Broadnax, Austin city manager. “These five new flights will not only enhance connectivity for our residents and businesses but also contribute to Austin’s reputation as a premiere destination for travel and commerce. We are thrilled to welcome Delta’s continued investment in Austin.”

The flights will run once a day, every day of the week. This expansion positions Delta to have the second-largest market share at the Central Texas airport based on daily departing flights.

The Delta Connection carrier SkyWest’s fleet of Embraer 175s will serve the Panama City, Indianapolis and Memphis routes, while the San Francisco and Tampa routes will be on Delta’s Airbus A220-300 aircraft.

“We’re incredibly excited to join Delta in celebrating these new routes,” said Ghizlane Badawi, AUS CEO. “Delta has been making significant investments to connect Austin and Central Texas with more choices, greater convenience, and enhanced connectivity. They’re a valued airport and community partner and we look forward to supporting their continued growth at AUS.”

American Airlines previously served the Indianapolis, Memphis and Tampa routes before it cut more than 30 routes from Austin over the past year. Now, with the new nonstop additions, Delta will be the only airline offering direct service to Memphis.

Austin-Bergstrom International Airport has been a hot spot for passenger traffic recently. Between January and July this year, Delta flew more than 1.8 million passengers to and from the capital city, a 23.5% increase from last year. 

“Delta is continuing to build its presence in Austin with new routes to more business and leisure destinations across the U.S.” said Joe Esposito, Delta’s S.V.P. – Network Planning. “With 55 peak-day departures planned for Summer 2025, Delta is reaffirming its commitment to Austin, giving our customers even more opportunities to connect to our global network.”