A developer from Indiana is asking the City of Beaumont for their support to build affordable housing apartments, called Laurel Vista, that will serve seniors in the area. The complex is proposed to have 77 units.
The developer has plans to apply for housing tax credits from the Texas Department of Housing and Community Affairs. Awarded by the state in a very competitive process, the tax credits will assist the developer in raising capital to build the apartments and be able to offer them at below market rents.
The City of Beaumont is expect to vote “in support” of the development at its next Council meeting.