City council to consider funding for new affordable homes

CORPUS CHRISTI, Texas — More affordable housing may be popping up in Corpus Christi. The city council discusses a project for multi-family apartments to enter on Greenwood Drive near Gollihar Road.

It is an affordable housing complex with 152 planned multi-family units of one, two and three bedroom apartments.

“I am happy to see that there is development in this area,” said Councilman Roland Barrera. “I think that would be great, that would be a great opportunity for small businesses to grow. Now you have more individuals there. There’s more buying power.

The project falls under Councilman Barrera’s District 3. He said that because wages have not kept up with the cost of living, more affordable housing is needed.

“Wages or pay rates haven’t gone up as well as costs that have gone up,” Barrera said. “In terms of the pandemic, the supply chain issues, those things that happened where people were underemployed. So we need to make sure that people who earn lower incomes will have the opportunity to to enter a beautiful new apartment.”

Area residents are divided on whether the new multi-family apartments are good for the neighborhood. We spoke to several people who didn’t want to go on camera. but shared different sentiments. Some said they would like to see something in the vacant lot, one person said they didn’t want to see it because it would reduce the value of their property. And some just said they didn’t care anyway.

This week, City Council will hear from the Corpus Christi Housing Finance Corporation. They ask the council to approve a resolution that will allow revenue bonds to pay for the project.

“They’re asking for funds from the state and so on,” Barrera said. “We just have to allow this. The city takes no responsibility, it doesn’t affect our bond rating. It’s just part of the request, they get a 4% tax credit through this program and they are essentially the ones guaranteeing the bonds.

Barrera said there is no set deadline, but if the resolution is approved, the project will go further.

The special board meeting will take place at city council on Tuesday after the lunch break.

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