State housing agency awards $39.5 million to boost housing options and local economies

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AUSTIN, TX – August 3, 2011 – (RealEstateRama) — The Texas Department of Housing and Community Affairs (TDHCA) today announced that it will finance the development of 38 affordable rental properties throughout the state that will combine an affordable rent with the aesthetic qualities of high-end developments. These properties will expand housing options for the state’s growing population of retirees and younger working families while generating a significant impact on the economy.TDHCA will provide $39.5 million in financing through the 2011 Housing Tax Credit Program allocation cycle, helping create an estimated 3,457 units of affordable rental housing designed to serve Texans earning no more than 60 percent of the area median family income.

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The Texas Department of Housing and Community Affairs (TDHCA) is the state agency responsible for affordable housing, community services, energy assistance, and colonia housing programs. The Department annually administers more than $400 million through for-profit, nonprofit, and local government partnerships to deliver local housing and community-based opportunities and assistance to Texans in need.

Contact:

221 East 11th Street
Austin, Texas 78701

Direct Dial - (512) 475-2200
Toll Free - (800) 500-7074
Fax - (512) 475-1109

Media contact:
Gordon Anderson/512.475.4743
Jill McFarren/512.475.2844

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