Project Brings Dollars, Jobs to Beaumont Economy
BEAUMONT, TX – Bulldozers will be on the move on Monday, October 17th, knocking down the Lucas Gardens public housing development located at 3795 Lucas in Beaumont. This demolition will allow crews to begin the construction of The Crossing, a 150 unit mixed income high-rise for seniors aged 55 and older.
The Beaumont Housing Authority secured the nationally renowned developer Carleton Development to oversee this project, expected to cost approximately $13 million dollars. The demolition is expected to be completed by November. Construction of the facility will begin in January and the first units will be available for rent by April 2012. The project is expected to reach full occupancy by December 2012. Acceptance of applications and pre-leasing will begin in January 2012.
The development is being financed through an allocation of 9% Housing Tax Credits from the Texas Department of Housing & Community Affairs. The Housing Tax Credit Program is the state’s primary means of directing private capital toward the creation or retention of affordable rental housing.The credits provide developers and their investment partners with a benefit used to offset a portion of their federal tax liability in exchange for the production of high quality affordable rental housing subject to rigorous monitoring to ensure quality and affordability are maintained.
According to a recent study by the National Association of Home Builders, the direct impact of a typical 100-unit property developed through housing tax credits includes 122 full-time construction jobs, $7.9 million in total wages and salaries, and $827,000 in taxes and other revenue to state and local governments.
“Projects such as this help keep our Beaumont economy robust by expanding the stock of quality rental housing and offering tenants the long-term benefits of a stable, secure home life,” said Robert L. Reyna, Executive Director. “The region benefits from the construction jobs, payroll funds, and sales tax revenue that such a development can generate.”
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 new construction will consist of simulated stone 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.
Reporters and news crews interested in filming or photographing the demolition are asked to call Allison Landrum at 951-7208, or email her at landrumal@bmtha.org.
