Palladium to Build New Affordable Housing in Port Aransas

Oct 18, 2019

From KRIS 6 News, Corpus Christi

In an effort to bring more affordable housing to Port Aransas, Texas, TAAHP member Palladium USA has partnered with Port Aransas Public Facilities Corporation (PAPFC) to develop a new affordable apartment community off Hwy 361. The development will include 183 units that will be available to residents earning incomes in the low $20,000 to low $40,000 range per year.

Port Aransas City Manager David Parsons says affordable housing is especially needed because after Hurricane Harvey, much of the areas affordable properties have been replaced by properties with a much higher property value that are being rented out on a short-term basis to tourists.

The new development is estimated to cost $36 million, paid for in part with 4 percent housing tax credits issued by the Texas Department of Housing and Community Affairs (TDHCA).

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