Income-restricted apartments coming to Round Rock


Apartment hunters may soon have another option when shopping for an affordable place to rent in Round Rock. The Round Rock City Council passed a resolution of non-objection last week allowing Pedcor, the developer of the Shadow Ridge Apartments, to move forward with efforts to receive state tax incentives to help develop the complex.<a href=Shadow Ridge Apartments" width="460" height="418" />Applicants must make 60 percent of the area’s median income, which is approximately $78,000, according to city of Round Rock Planning Director Brad Wiseman, in order to qualify for one of the 256 units planned for the development.  It will be located on the northwest corner of A.W. Grimes and Old Settlers Boulevard and will be one of only a handful of income-restricted apartment complexes in the city. “There is a huge need in this entire region and all across Texas,” said Craig Lintner, senior vice president of Pedcor, to the council during the meeting. Wiseman said the Shadow Ridge Apartments will resemble any market rate apartment project in the area, as it is held to the same construction standards. However, Shadow Ridge Apartments will lease for about $200 less per month than a comparable market rate apartment, he said. While the units will be income-restricted, Mayor Pro Tem Craig Morgan made the distinction at last week’s city council meeting that it is not Section 8 housing, stating that complexes like Shadow Ridge Apartments tend to attract middle-income professionals, such as teachers. A few residents who own neighboring properties spoke in opposition to the complex at the meeting, each stating the nature of the development and its affordable housing designation was something they were not interested in living or working next to.  They also expressed concern that the development could negatively impact their property values. While having an apartment complex adjacent to residential property may not be ideal for some, the property allocated for the Shadow Ridge Apartments has been zoned for multi-family housing for more than a decade. “One of our goals of our comprehensive plan in the city of Round Rock is to provide diversity of housing choice to serve a diverse set of needs in the community, and that spans all types, generations, different incomes and family sizes. This will definitely fill that need,” Wiseman said. No date has been set for construction to begin on the project.

Comments

Post a Comment

Popular posts from this blog

Albany Police respond to shooting at Sunchase Apartments

Image
Police said one person was hurt in a shooting in Albany Sunday night . (Source: WALB) ALBANY, GA (WALB) - Police said one person was hurt in a shooting in Albany Sunday night . According to Albany Police, the shooting happened in the parking lot of Sunchase Apartments on Hobson Street. Dispatch said the call came in at 9:42 p.m. Sunday. Police said a black man, 25, was shot in the upper body. Sunday night, police said they are searching for two black males believed to be driving a white Buick LaSaber . One of them was reportedly wearing a white shirt and the other was wearing a black shirt. Police said this is preliminary information and could change as the investigation moves forward . Copyright 2017 WALB. All rights reserved.  Report an error  |  Submit a tip to WALB News 10
Read more

UPDATE: Woodcrest apartment fire claims second life - News - Dover Post

A Felton woman has become the second victim of a deadly fire that swept the Woodcrest Arms apartment complex June 6 . Jeff Brown, News Editor A second victim of the June 6 fire at Woodcrest Arms apartment complex has died. Christina Lynn Taylor , 33, of Cedar Grove Church Road , Felton, died the afternoon of June 7 while at Crozier Chester Burn Center , Chester, Pa., said Dover Police Capt . Tim Stump. Taylor and her boyfriend had been at the apartments to help a relative move, Stump said. The boyfriend, whose name was not released, was still at the burn center, where he had been taken with life-threatening injuries after the fire. Stump also identified the first victim of the blaze as Jacqueline Wuest, 61. Wuest’s body was found in her third- floor apartment during an initial sweep of the building. The city of Dover fire marshal is continuing his investigation into the cause of the fire, Stump said. -------------- An early morning fire ripped through a building in Woodcrest Arm
Read more

Denver Home Sales Becoming Buyer's Market

Image
Denver's housing market has been red hot for the past few years, with buyers of more modest means often finding themselves priced out of properties thanks to bidding wars that routinely generate over-list offers. But as indicated by the presence of a "Price Reduced" sign on a home in a sought-after part of Centennial, as seen in the photo above, this situation may finally be about to change. Janene Russeau of Madison & Company, who's handling the South Madison Way and East Phillips Avenue house — it was originally priced at $639,000, but is currently going for $599,000 — feels that "it's turning a little bit more into a buyer's market, as opposed to a seller's market." If so, that's a big change. As recently as April, real estate agents such as Karen Mistrot, the woman behind Karen & Company Realty, were reacting to the incredible demand for new houses by way of "Coming Soon" signage for homes about to be put on the marke
Read more