Abilene Housing Authority seeking tax credit to build new low-income housing units
Updated On: Feb 21 2014 08:15:54 PM CST
More than 2,000 people are on a waiting list for affordable housing in Abilene. If the Abilene Housing Authority is awarded a tax credit, these 2,000 may just find a place to call home.
The Abilene Housing Authority is applying for a competitive tax credit that will help them build two new housing units in north Abilene.
"We'd really like to help the city in terms of driving development in this particular area and we think it's a really great location to add two new complexes," said Gene Reed of the Abilene Housing Authority.
Between the two complexes, there will be 128 units, with up to four bedrooms.
One would be at 2121 N. 6th Street and the other at N. 6th and Mockingbird.
"And what that would entail is potentially tearing down Riviera, potentially acquiring the Claystone and tearing down the Claystone," Reed said.
Reed added these projects would benefit the entire community.
"Not only would you create jobs with these two particular projects, because they have to be built, but you're actually providing very high-end, affordable housing for low-income families in the area, so it's a win-win all the way around," Reed said.
The next step in the process is getting the Abilene City Council to approve a revitalization plan for the Cobb Park Area.
This item goes to the council for its second reading on February 27.
Reed said if the council does approve the revitalization plan, the chances of being awarded the tax credit are good; if the council doesn't approve the revitalization plan, though, the chances of getting the tax credit is slim to none.
Here are the facts on those two new affordable housing units:
1. The one at N. 6th and Mockingbird would be an 84-unit complex with one to four bedrooms for low-income families. The projected cost for this complex is $11.6 million.
2. The one at 2121 N. 6th would be a 44-unit complex with one to two bedrooms for the elderly. The projected cost for this complex is $4.8 million.
If all goes according to plan, the housing units would be built in mid-to-late 2015.
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