Offering affordable housing opportunities is a high priority for the City's Housing Division. We are excited to announce that two new affordable housing developments for renters are now starting construction.
Cypress Senior Apartments
The existing apartment building at 311 E. Cypress will be
modernized and renovated starting next month. The new name for the building will be “Cypress
Senior Apartments.” Upon completion of
the work, the 17 affordable apartments will be available to low income senior
citizens who are 62 years of age or older.
Senior citizen veterans will be given first priority for six of the
apartment units. Marketing and lease up of the four one-bedroom and 14 studio apartment
units will begin in the Spring of 2014, a few months before the building is
expected to be open for new occupants.
Veterans Village
“Veterans Village” is a new apartment building to be built at
327-331 W. Salem Street. Design
approvals and financing are now in place and construction is expected to soon. Development is estimated to
cost $15.46 million and Low Income Housing Tax Credits will be invested in the
project as well as federal HOME funds from the Housing Authority.
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| Rendering: Veterans Village |
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| Veterans Village Site Before Construction |
The Housing Authority will purchase Parking Lot 12 from the City and it will be redeveloped as part of the site for the affordable apartments. The 43 affordable rental units will serve lower income
families and a preference will be given to veterans of the U.S. Armed Forces
during lease up. It is expected that
marketing efforts will begin in Fall 2014 so the residents will be ready to
move in during the late spring of 2015.
