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Federal tax credits awarded for five low-income El Paso apartmentsFederal tax credits awarded for five low-income El Paso apartmentshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=230272019-09-03T05:00:00Z2019-09-04T19:00:00Z

​​EL PASO – The Texas Department of Housing and Community Affairs has awarded $53.4 million in federal tax credits for the construction and renovation of five low-income apartment complexes across El Paso County. 

The El Paso Housing Authority will use $15 million to start construction next summer on the $21 million, 120-unit Patriot Place apartments at Diana Dr. and Kenworth St. Opening is set for the end of 2021. 

Meanwhile, $14.4 million in federal tax credits will help finance renovations to the 98-unit DeWetter Apartments at 560 Lisbon Ave. and the 78-unit Kathy White Apartments at 2500 Mobile Ave. 

Renovations have already begun and will be complete by February 2021.

Investment Builders Inc. will use $15 million to help finance the $18.3 million, 104-unit Ridgestone Estates complex at 11050 Montana Ave. Construction will begin by the end of 2019 and wrap up by fall 2021.

Tropicana Building Corp. will use $9 million to help finance the $12 million, 80-unit Anthony Palms low-income apartment complex on the 100 block of Sandia Dr. in Anthony. ​​Work will start next summer, and opening is set for early 2021. 

Texas logoThe Real Est​​ate Center has more multifamily and El Paso news online:

​Source: El Paso Times​
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