EL PASO, Texas (KTSM) — The City of El Paso has broken ground on a new apartment complex that will help low income residents.
The public housing project is costing about $17 million and it’s set to be move in ready in 2022.
It’s the Housing Authority of the City of El Paso’s apartment complex called Patriot Place as a way to honor veterans and military members.
“We love our veterans. In fact, we serve a lot of veterans across El Paso. For us to give honor to those that were willing to protect us is a great honor to name it after them,” said Gerald Cichon, HACEP CEO.
Patriot Place will be near Diana Drive and Kenworthy Street in Northeast El Paso. The city representative for the district Joe Molinar said this means a lot for the community.
“The northeast has a lot of history of military, veterans, retirees, that have served honorably their country and it’s just the perfect place for it to be,” said Joe Molinar, City Representative for District 4. “Different families will be able to come in and have good affordable housing, we have different amenities, we have the community college, we have Sue Young Park, Camp Cohen Water Park.”
The goal of this project is to create quality of public and affordable housing in the City of El Paso.
“It’s an amazing site to give opportunities for those looking to pull themselves up and out of poverty,” said Cichon.
Patriot Place will include 56 one-bedroom apartments, 38 two-bedroom, and 16 three-bedroom apartments.
Patriot Place is part of HACEP`s Rental Assistance Demonstration (RAD) program. In the last six years, 60 apartment complexes have been completed through RAD, representing an investment of $1.3 billion dollars in public housing. The complex is mainly financed using federal tax credits through RBC Capital Markets, a Canadian investment bank which sells tax credits to investors.
For more details visit the HACEP Facebook page.
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