Several local affordable housing developments and rehab projects stand to benefit from the nearly $100 million in tax credits Gov. Greg Abbott authorized this week.
The governor signed off on the tax credits to help defray the cost of new construction and rehabilitation for 63 rental properties comprising over 4,410 units with rents that households earning up to 80% of the area median family income can afford.
Nine projects in the D-FW are slated to receive a combined total somewhere in the ballpark of $18 million. Those projects are:
- The Watson at 1401 S Watson Rd. in Arlington (new construction)
- Irving Lofts at 1108 N Anglin St. in Cleburne (new construction/acquisition rehab)
- The Magnolia at 1401 Commerce St. in Dallas (new construction/acquisition rehab)
- The Meadow at 8130 Meadow Rd. in Dallas (new construction/acquisition rehab)
- The James at Wheatland at 7100 W Wheatland Rd. in Dallas (new construction)
- McAdams Haven at NWC Lindsey St. and Bernard St. in Denton (new construction)
- Avenue at Lancaster at 5733 Craig St. in Fort Worth (new construction)
- Envoy64 at 1415 W Airport Fwy in Irving (reconstruction)
- McKinney Ranch Senior Living at 5353 McKinney Ranch Pkwy in McKinney (new construction)
“The over $99 million in housing tax credits is critical to improve and upgrade affordable housing units for Texans,” said Abbott, according to a news release. “Working with the Texas Department of Housing and Community Affairs, we will build a more affordable and prosperous Texas for generations.”…