Austin-based DMA Housing has received the tax credits it needs to proceed with construction of an 88-unit, $13 million apartment complex in Hewitt exclusively for seniors who do not need assisted-living accommodations.
DMA Housing and Houston-based Blazer Building also have secured building permits to erect a three-story apartment building and nine single-story buildings, a leasing office and a clubhouse at 701 N. Old Temple Road, where those ages 62 and older can live in Reserve at Dry Creek.
“I think DMA is in the final stages of getting its financing lined up, and I expect dirt to be turning by the first two weeks of July,” Hewitt City Manager Adam Miles said.
The complex primarily is for those on fixed incomes and will include one- and two-bedroom apartments as well as cottages with lawns and carports for those with vehicles, he said.
“This will be the first development of its kind in Hewitt, and I think it’s good for the city,” Miles said. “It should prove ideal for residents who are selling their home and downsizing, those who may have lost a spouse, or those wanting to relocate to a community where their children live.”
DMA applied for and received Housing Tax Credits from the Texas Department of Housing and Community Affairs, which is a very competitive process, said Janine Sisak, the company’s senior vice president.
Those wanting to live at Reserve at Dry Creek, which will spread over about 10 acres, must meet state guidelines. Sisak said it should represent an option to those with modest retirement savings and those who can’t afford full-service senior facilities. The property will not be Section 8 housing, a federal program that provides subsidies to landlords.
“We’re looking forward to having them on the ground,” Miles said. “We’ve already had a couple of calls about the complex.”
He said the opening this year of a 160,000-square-foot Walmart supercenter at Sun Valley Boulevard and the Interstate 35 frontage road may have helped as state officials weighed DMA’s request for tax credits.
DMA has not yet announced the monthly rental rates for the development.
Elsewhere in Hewitt, slabs have been poured for a $30 million, 264-unit complex called The Icon at Hewitt, said Miles, adding he believes carpenters will begin framing the buildings within 30 days.
“They are making a lot of progress, but are still a year out from being occupied,” said Miles. “We are happy to have them here.”
Tulsa, Oklahoma-based Case & Associates Properties is placing the complex near the new public safety facility.
The complex will feature urban-style architecture with concrete exterior and include one- and two-bedroom apartments with stainless steel appliances. Rent will average $1,000 to $1,300 for a two-bedroom apartment with a garage, according to CEO Mike Case.
The facility will include a clubhouse, business center, fitness center, dog park, limited access gates, outdoor social areas, including fireplaces and grills and an outdoor swimming pool, Case said.