Amarillo, TX - At this evening's city council meeting, three housing developers proposed building five new apartment complexes labeled as affordable housing. That means they will be apart of a federal Tax Credit Program for residents who make at-or-below 60% of average income.
All five of the proposed apartment complexes received the support of city council, but only one will get the chance to build. Each developer will go through a competitive process with the state for the award of tax credits.
Tejas Housing Group developer Tim Lang says he wants to build in Amarillo because of our already growing local economy.
"This helps us help the community meet the needs of their housing moving forward," said Lang. "When there's enough affordable housing, it's attractive to
employers to move into the industry and businesses to the area. It provides a stable workforce to attract that kind of economic development."
The state will choose which developer gets the opportunity to build their apartment complex by the end of July. Mayor Harpole is asking for the public's input on the new housing development once the developer is selected.
The proposed apartment complexes:
-Las Palmas Apartments located at 7525 South Soncy
-Valencia Apartments located at 7584 Southwest 77th Avenue
-Marabella Apartments located on Arden Road and South Coulter Street
-Liberty Vista Apartments located on Plum Creek Drive
-The Residence at Coulter located 5000 South Coulter Street