Integrity Capital LLC secures $43.6 Million Loan For Bungalows at Norterra To Construct New Residential Community in Phoenix

Integrity Capital LLC announced this week Bungalows at Norterra obtain a $43.6 million construction loan for the development of the new Bungalows at Norterra community in Phoenix Arizona.

The 16-acre community located near 19th Avenue and West Happy Valley will house 170 bungalow-style residential rental units.

The project is another developer response to demand for more housing from Valley residents.

Douglas H. Napier, President of Cavan Companies, the developer for Bungalows at Norterra said they were proud to oversee another development of several new residential projects they have launched in Arizona and thanked Integrity Capital for helping them get their financing needs over the finish line.

“Integrity Capital brought expertise and diligence to the whole lending process,” Napier said. “They worked hard to find suitable lenders, provided effective help in negotiating terms, and assisted diligently in moving the process to the finish line. We are grateful to work with them.”

Integrity Capital LLC Principal Dave Kotter said this residential project is a huge boon to a community desperately in need of more housing and Cavan’s team are some of the best people to do the job.

“As more people move to Phoenix they are going to need a place to live and this project helps address that problem,” Kotter said. “Integrity Capital is so thankful to work with such a high integrity organization and we are grateful to be able to provide proactive capital to help them achieve their goals.”

The community is projected to be completed in 2024.

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