EL PASO - A $250 million financing package has been completed to pay for the first phase of the El Paso Housing Authority's five-year renovation.
Renovations will include more than 30 public housing complexes with 6,100 housing units.
The five-year project will cost an estimated $600 million to as much as $1 billion.
The project is expected to create more than 1,000 jobs.
The first phase will renovate almost 1,600 units at 13 housing projects across El Paso.
The renovations are expected to begin in several weeks at the Kennedy Brothers housing complex in the Lower Valley and the Eisenhower housing complex in Northeast El Paso after residents are relocated.
The housing authority will seek to place residents in vacant properties during construction and move residents back to the newly refurbished buildings after the work is completed.
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