EL PASO, Texas (KTSM) — A new affordable living space will soon be coming to Northeast El Paso.
The Patriot Apartments will include 120 units near El Paso Community College’s Transmountain Campus and Sue Young Park. The plan includes hiking paths, biking trails and a playground.
The City’s Housing Authority announced $30 million in tax credits to build the brand new complex and renovate two other existing complexes.
At its meeting Thursday, TDCHA also issued approximately $14.4 million in 4% tax credit funding for the renovation of two apartments, the DeWetter Apartments and the Kathy White Apartments.
The DeWetter Apartments, consisting of 98 units, is located at 560 Lisbon Ave. The Kathy White Apartments, consisting of 78 units, is located at 2500 Mobile Avenue. These two properties were originally constructed in 1971 and 1972 respectively and the units have been occupied and operating as public housing units. The newly renovated apartments will cease to be public housing, as they will be converted into a more efficient federal subsidy programs for the residents.
The 4% tax credits, along with other funds provided by HACEP and from other sources, will permit both of apartment complexes to be completely renovated and updated. The total redevelopment costs for both apartments will be approximately $46 million.
“The key to HACEP’s continued revitalization effort is being creative in securing the financial resources to fund these RAD projects,” stated Francisco Ortega, Chairperson of HACEP’s Board of Commissioners. “The tax credit allocations awarded today will fund the majority of the total project costs that will bring millions of dollars in new development and renovated housing to El Paso.”
“HACEP continues to invest millions of dollars in the EI Paso community developing and re-developing in areas that will offer our families and children easier access to new opportunities, higher-wage jobs, good schools, and services,” added HACEP’s CEO Gerald Cichon upon the announcement from TDHCA. “This award is not only a win for HACEP residents, but for the entire community.”
These three projects are part of HACEP’s ongoing Rental Assistance Demonstration (RAD) revitalization effort in EI Paso. The RAD project is a $1.3 billion project to re-build or renovate all of HACEP’s public housing apartments and to convert them into newer, more-efficient, and more-sustainable housing for low income families.