February 3, 2023 | by Anna Orendain
Categories: Affordable Housing, Spotlight
This is the latest entry in our On the House spotlight series.
TSAHC periodically spotlights affordable housing developments across the state to help readers understand what they look like, how they are financed, and who lives there. This week, we are focusing our spotlight on the Affordable Housing Partnership, a collaboration with the Texas Health and Human Services Commission that was launched as a pilot program in 2020 as part of the Texas Housing Impact Fund suite of loan products.
TSAHC offers the Affordable Housing Partnership (AHP) program through a partnership with the Texas Health and Human Services Commission. The program allows us to offer deferred forgivable loans to subsidize the construction of affordable, accessible, and community-integrated units designated for residents with long-term health needs.
To date, we have approved seven loans totaling $2.4 million to support the construction of 32 rental units in Dallas and Travis counties.
Saison North Apartments
Located in a high opportunity area in northwest Austin, the Saison North apartments will feature 116 one-, two-, and three-bedroom homes that will serve multiple income levels in an area that is severely lacking affordable housing. In fact, over the last two decades, there have been zero tax credit developments built in either the census tract it’s located in or adjacent ones.
Among the 116 units, 82 will be restricted to households who have incomes at up to 30%, 50% or 60% the area median income. The remaining 34 will be market rate.
TSAHC is honored to provide financing for this development to O-SDA Industries through the AHP program, providing $1,000,000 to help close the gap on acquisition and construction costs.
Embree Eastside Apartments
Embree Eastside is a 107-unit apartment community in Garland, Texas that will provide a spectrum of affordable housing options ranging from units reserved for households earning up to 30% of the area median income to units targeted to households earning up to 80% AMI.
Embree Eastside Apartments amenities will include a resort style pool, playground, clubhouse with community room, bark park, business center, and fitness center. A variety of social services will be provided as well including a scholarship program for high school seniors.
TSAHC awarded Palladium USA, Inc., the developer of Embree Eastside, a $375,000 deferred forgivable loan through the AHP program to construct five units that will provide community-integrated housing for vulnerable Texans.
The other communities awarded loans through the AHP program are the Dallas Stemmons apartments (Dallas), Midpark Towers apartments (Dallas), Cady Lofts (Austin), La Vista de Lopez (Austin), and Manor Town apartments (Travis County).
While the AHP program was geographically limited to Dallas and Travis counties when launched, we have expanded it to include Bexar and Harris counties. However, expanding the program is contingent on future funding for the program as all available funds have been commited to date.
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