Gardner Capital to Develop Gala at Fate Through Public-Private Partnership in Texas

FATE, Texas — Private equity firm Gardner Capital has partnered with the City of Fate, a small city northeast of Dallas, to develop Gala at Fate, a 185-unit affordable seniors housing community.

The city will lease the land to Gardner Capital, with plans for long-term ownership by the public-private partnership. CREA and Citibank are additional financial partners for the project, with Citibank providing both construction and permanent financing.

“An important piece of our community’s comprehensive plan is to provide a wide range of housing choices, from first-time home buyers up to retired grandparents living in our community,” says Fate Mayor Joe Burger. “Gala at Fate gives an affordable option for independent seniors to live near their loved ones in Fate.”

The project is scheduled for completion in January 2022. Treymore Construction is the general contractor for Gala at Fate.