A new 144 unit apartment facility bringing low income housing to Denison opened earlier in the month.
The apartments utilize a new tax incentive to provide low income housing instead of relying on federal government programs, and according to the developer are already nearly rented out. Darin Hansen, vice president of forward planning and entitlements for Amtex Development, the developer of the property, said he was excited to bring these low-cost apartments to the city of Denison.
“We chose this property to develop for a multitude of reasons,” Hansen said via email. “The city officials wanted this site re-developed as it was the gateway into the city limits from the county. The prior use of the property had a neglected trailer park with very old homes and the property was not maintained well by the prior land owner. We also liked the site as it is close to local amenities and convenient access to the freeway. There is also employment growth in the area and a need for affordable housing for the local workforce.”
Hansen said the developer worked closely with the city to bring the project to the area.
“We built a beautiful community,” Hansen said. “The Parkdale Villas will seamlessly integrate with the adjacent area and greater Denison community. The development is a great asset to the citizens of Denison. Parkdale Villas gives the citizens the opportunity to live in a brand new development with wonderful amenities while paying affordable rents.”
Hansen said the developers have heard wonderful things from the community, who have been happy to see new development in the area. The development features 144 apartments, with 128 of them classified as rent-restricted for residents earning at or below 60 percent of the area’s median income. The rent for the apartments ranges from $275 to $843 a month.
“We are happy to be a major part of the city’s growth on the west side of town,” Hansen said.
The apartment complex sits on a 12-acre site featuring amenities such as a club room, laundry facility, fitness center and a library.
Residents will also have access to a swimming pool, a playground with barbecue grills as well as washer and dryer connections. Apartments also feature private patios and balconies with storage units.
Work to bring the project to Denison began in 2015. The project was partially made possible due to a tax program started by the state in 2017. The incentives are to encourage development of low-cost housing options for lower income families.
The property the development sits on had previously been used as a mobile home park. Once the residents were relocated from the park construction began at the new site. Residents were compensated with a number of them being offered first priority on getting into a new apartment once the project was completed.
The project has been a continuation of Denison’s efforts to increase available housing within the city. The new trend has been to focus on bringing more affordable, multi-family housing.
“I was very impressed by the look and feel of the entire complex,” Denison Development Alliance President Tony Kaai said in an emailed statement. “Their community room and pool area is family friendly. The furniture and interior design in the lobby and open space is exceptional. This is a great project for Denison as it replaced a neighborhood that was in desperate need of an upgrade. The property provides affordable housing for our workforce and it’s a $22 million investment that is now on the tax roll.”