Plans for a 200-unit apartment complex advanced last week after the city council approved a resolution in support of the developer’s application for affordable housing tax credits.
Bonner Carrington Construction, which plans to build the Cypress Creek complex in the 4100 block of FM 1764, would apply for Texas Department of Housing and Community Affairs competitive housing tax credits, officials said. The tax credits would allow units to be leased to qualified families at below market rate rents, officials said.
Some of the other low-income apartments in Santa Fe are Santa Fe Plaza Apartments, 12200 11th St., and Heritage Crossing Apartments, 12402 11th St.
The company would reserve 55 percent of the complex’s units for moderate-income renters, Bonner Carrington Construction representative Emily Protine said.
The Cypress Creek apartments would feature 200 units that include market rate and affordable options, Protine said.
“The Texas Department of Housing and Community Affairs determines the income restrictions,” she said. “It’s actually more moderate income as opposed to low income. If a resident can qualify under the income restrictions and meet all our tenant selection, then they would qualify for a more affordable rate.”
The complex also would include one-to four-bedroom floor plans and offer tenants Apartment Life, a faith-based, nonprofit organization that promotes community building and planning social events, Protine said.
The complex, however, raises questions about drainage and flooding, Councilman Bill Pittman said
“I know this is a long way down the road as far as engineering, but I see the pond area,” Pittman said. “Are they going to use the detention pond by CVS or are you doing your own?”
“Our engineers have started looking at that, and what we are proposing currently based on our preliminary calculations is a structured pond that would allow us to have straight walls that go a little deeper,” Bonner Carrington President Casey Bump said.
Possible zone changes and drainage issues will have to be addressed before development, City Manager Joe Dickson said.
“This is entirely on a point system and this is the first step of gathering those points,” he said.