Thursday, May 2, 2024
The Gatesville City Council was presented with two proposed projects for new mixed income residential communities at a regular public meeting Tuesday.
The two potential communities, Gatesville Crossing and Gatesville Terrace, were presented by Trinity Housing Development, a group that specializes in affordable housing development for seniors and low-to-moderate income families. The company also constructed Gatesville Trails, which is a senior living community located off State Highway 36.
With a potential location east of Highway 36 and south of the Gatesville Walmart, Gatesville Crossing would consist of approximately 36 units with one to three bedrooms. Although targeting families, the development would serve individuals of all ages earning between $26,500 and $50,000 per year. Rental costs for the units would range between $700 and $1,100 each month.
“We’re certainly targeting families, but that also means a lot of young working people and young couples with or without children,” Michael Fogel with Trinity Housing Development said.
Gatesville Terrace would consist of 52 units with one to two bedrooms for ages 55 years and older, which would be built north of Walgreens and south of Hillside Medical Lodge. The units would serve individuals with yearly incomes between $26,500 and $36,000. Rent for Gatesville Terrace would range between $700 and $1,000 per month.
Rent for Gatesville Crossing and Gatesville Terrace is based on number of bedrooms and household income. According to Trinity Housing Development’s presentation to the council, the income range for both communities is the area median incomes for Coryell County.
Both communities will feature amenities such as fitness centers, community kitchens, BBQ areas, shared green spaces, and more. Units normally include fully-equipped kitchens, ample storage, vinyl plank flooring, and washer and dryer hookups.
Trinity Housing Development utilizes funding from federal housing tax credits to build mixed-income, affordable housing. The Texas Department of Housing and Community Affairs (TDHCA) allocates the tax credits annually to qualified developers.
The purpose is for the city to pursue one of the projects. Fogel said his team is recommending Gatesville Crossing as the demand is higher for family developments, and it would more likely receive funds through housing tax credits.
“We kind of know from our research that a non-age restricted development would be most likely to be successful as far as requiring that funding and to be built,” Fogel said. “We just built the senior development, so it would be a good compliment to have a non-age restricted development in the pipeline behind that.”
Fogel adds that they have also had feedback that Gatesville Trails has been well received in the community and is open to building another senior living development.
Council Member Greg Casey asked if they could keep Gatesville Terrace open for the future if the family development project is approved. Fogel said if one project is approved, there is possibility to revisit the other project next year.
Council Member Barbara Burrow voiced her support for a development geared toward families.
“There are so many amenities in that area to serve that type of community, and I think that’s really good. Right now, there’s very little – there’s no housing around there at all,” Burrow said.
Kim Hill, a local realtor who has worked with Trinity Housing Development, agreed that the developments are a great opportunity for Gatesville.
“For me, as a realtor in the market, I think one of the things that’s frustrating to me is that if you look at our income here and the people who can afford to live in Gatesville and want to live in Gatesville, some of their rents have gotten so high for not very nice property,” Hill said. “I like it also because it’s giving them opportunity, but it’s also opening up a really good space next to Walmart for other opportunities.”
The council did not take any action on either project but will revisit the decision at their next meeting on Jan. 23.
