Seniors: 78-unit Campanile at Jones Creek to RichmondSeniors: 78-unit Campanile at Jones Creek to Richmondhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=60582013-10-15T13:41:00Z2013-10-14T00:00:00Z

RICHMOND - The Texas Department of Housing and Community Affairs (TDHCA) has awarded $890,000 in housing tax credits to nonprofit developers constructing the 78-unit Campanile at Jones Creek. The senior rental property with reduced rents will be located at 1717 FM 359.

The award will help finance 72 units, which will be set aside for older tenants earning no more than 60 percent of the area median family income. For Fort Bend County, this equals an annual income of $31,800 for a two-person household.

“When you combine the jobs, payroll funds and sales tax revenue these properties generate, TDHCA anticipates that this allocation of housing tax credits could generate as much as $5.2 million for the Richmond economy and $552,000 in taxes and fees for both city and state coffers,” said Tim Irvine, TDHCA Executive Director.

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