First-ever Workforce Housing Project Set for Port Aransas
Port Aransas will soon have $4 million more to spend on workforce housing. The Texas Legislature added the pricey rider onto Senate Bill 1, the state appropriations budget, before closing the 2019 session in May. The money will be used to help build a $36 million apartment complex, the first-ever workforce housing project in the island city.
The 200-unit complex will be run by the Port Aransas Public Facility Corporation, which was created by the City Council last September. The corporation will work in partnership with the Palladium Group, a private organization that will develop and manage the property.
Palladium is expected to finance at least $14 million of the project. Palladium is expected to finance at least $14 million of the project.
The Texas Department of Housing and Community Affairs is expected to provide an additional $14 million in tax-credit grant money along with a $4 million grant.
Location is still to be determined, but City Council members have their eyes on a piece of land on Texas 361 owned by the General Land Office. Formerly the resting place for tons of debris removed from city curbs in the aftermath of Hurricane Harvey, the area is now cleared and waiting for a new use.
The complex has a two-fold benefit for the city: It provides homes for people working in the city and will boost enrollment at the local schools.
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