Spotlighting new communities! TDHCA celebrates Corpus Christi property openings!
Part of an occasional series on TDHCA programs
Hurricane Harvey left a huge imprint on Texans in 2017—the devastating winds and rains leaving many homeless. Today, however, there are many examples of Texas on the way to recovery as communities are being restored and housing options that families can enjoy for years to come are coming online. Just take a look at these beautiful, newly opened properties in Corpus Christi.
Awarded tax credits in 2015 as part of the competitive 9% Housing Tax Credit Program, Madhouse Development Services, Inc., was near completion of the River View at Calallen. The property was scheduled to open September 2017, but the affects of Hurricane Harvey delayed the project for nearly eight months. As Henry Flores, Madhouse Development’s Vice President, explains, a hurricane’s impact isn’t always a visible one.
“One of the main delays was the power company focusing on harder hit areas along the Gulf Coast,” Flores said. “AEP is the power company that also serves Port Aransas and Rockport, which were two of the hardest hit cities by the storm, so numerous resources and manpower was diverted to restoring power in those cities first.”
Flores explained how the buildings needed to have permanent power before the flooring could be installed, final inspections could be performed, and certificates of occupancy could be issued by the City of Corpus Christi. River View at Calallen’s grand opening is now scheduled for May, but the property is already gearing up for new residents. The property will offer rents affordable to households earning 30 percent to 60 percent of the area median family income.
“For our team, it’s an incredible feeling since Corpus Christi is the hometown for two of the principals of the community to be able to provide high-quality affordable housing in a time of most need,” Flores said.
Corpus Christi’s Four Bluff residents just saw the grand opening of the community’s latest development, Glenoak Apartments, located at 711 Glenoak Drive. The property held the special event on April 3, having been awarded federal tax credits in 2015. Glenoak Apartments provide Flour Bluff residents a safe, modern and affordable living environment, with modern amenities including a new community building with business center and services office, covered pavilion, swimming pool, and playground.
“Not only does Prospera give residents a vibrant community in which to live, we provide them with support services to give them hope for the future,” Gil Piette, Prospera HCS CEO/Executive Director, expressed. “We’re excited to be able to provide this new and improved community to the Flour Bluff residents.”
In 2017, TDHCA provided $67 million in housing tax credits to private developers constructing or rehabilitating 69 properties across the state. The credits are expected to help finance the building of 50 high quality, new properties with a total of 4,009 units, and the rehabilitation of 19 properties offering 808 units to income-eligible households across the state. To find affordable rental housing options in a specific area, visit the TDHCA Vacancy Clearinghouse for a list of TDHCA-monitored properties.
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9% Competitive Housing Tax Credit Program
