BEAUMONT, TX – On July 29th, the Board of Directors for the Texas Department of Housing and Community Affairs approved a resolution authorizing the award of a 9% Housing Tax Credit allocation that will generate approximately $15.5 million dollars in funding to demolish and rebuild Lucas Gardens Apartments located at 3795 E. Lucas.
“We realize that federal funding is becoming harder to obtain for revitalization projects,” said Robert L. Reyna, Executive Director of the Beaumont Housing Authority. “We must take full advantage of the private sector financing opportunities. Through the utilization of the Housing Tax Credit Program, we can compete in the private sector for funding opportunities that will mutually benefit our low and moderate income clients as well as benefit those private sector investors and syndicators seeking to take advantage of tax credit shelters for their public and private business ventures.”
Lucas Gardens is a 56-unit elderly development constructed in 1965. Once demolished and rebuilt it will be renamed “The Crossing” and will consist of 150 units of affordable housing for low- and moderate-income seniors aged 55 and older. The seniors currently living at Lucas Gardens will be temporarily relocated to apartments throughout the BHA inventory or into the private sector if necessary. Once the new property is ready for occupancy, these seniors will be given the first opportunity to return to their new home.
The new development will be a three-story development with an energy efficient design. The Crossing will provide residents access to a computer lab, arts and crafts room, beauty salon, a grand room that will serve as a community room and space for general resident activities, private examination room for visiting medical service providers, and offices for visiting Community and Social Service providers.
The front entrance will welcome residents with a water fountain leading up to a beautiful porte-cochére to protect guests from the elements. The new construction will consist of brick and stucco design and each apartment will have its own private balcony with French doors leading from either the living room or bedroom onto the balcony.
Construction is expected to begin in late 2010 and the new property should be ready for occupancy in mid-2012.
