Government Awards Funding for Senior Housing
The Granbury Housing Authority (GHA) will soon construct new housing units for low-income elderly citizens thanks to help from the federal government.
The Texas Department of Housing and Community Affairs has awarded a Low Income Housing Tax Credit allocation to Hill Court Villas, L.P. for the purpose of constructing a senior residential development in Granbury. The Granbury Housing Authority is the General Partner for the Partnership receiving the award.
The tax credit program is the federal government's primary program for encouraging the investment of private equity in the development of affordable rental housing for low-income households.
The new Granbury development will be called Hill Court Villas. It will be located at 1111 Hill Court behind Lowe's Home Improvement. Construction is expected to begin early next year and is expected to take between 12 and 16 months. The complex will include 48 units. Thirty-two units will have two bedrooms and 16 will feature one bedroom. The development will have 12 market rate unites and 36 "affordable" units. The housing will be for those 62 and older. To be eligible o live in an affordable unit, a household of one cannot have an annual income of more than $29,520. The income limit for a household of two will be $33,720.
The Granbury Housing Authority is located 503 North Crockett Street. The phone number there is 817.573.1107. Office hours are 8:00am until noon, Monday through Friday.