Tenants have begun moving into the Historic Lofts at Waco High, and its property manager predicts all of the units will be rented by the end of the month.

The project turned the century-old former school and adjacent buildings into 104 loft apartments.

With monthly rents ranging from about $200 to $600, the apartments have been hailed by local leaders for offering affordable housing options downtown.

The project turned the century-old former Waco High School and adjacent buildings into 104 loft apartments.
Tribune-Herald file photo

Tenants started moving in last week, property manager Robyn Moss said. About 30 units are now occupied, and an additional 20 or so have contracts on them, she said.

A number of people have submitted applications for remaining units, Moss said.

To live at the lofts, at 815 Columbus Ave., people must earn between 30 percent and 60 percent of the average median income of the Waco area. A family of four, for example, cannot make more than $32,460.

Prospective tenants must also pass a criminal background check, Moss said. In addition, they cannot owe money from any past rental or utility contract or be overdue on student loans, she said.

So far, about half of the approximately 150 applicants have been turned down for failing to meet one or more of those requirements, Moss said.

Project particulars

The project cost about $12 million and has been five years in the making. The developers got $9.3 million in tax credits to renovate the old school into affordable housing.

The apartments were designed in a way that preserves the building’s historical character, such as its high ceilings, exposed brick and duct work, chalk trays from classroom chalkboards and 6-foot-tall windows. The development includes an exercise room, computer lab, playground and laundry facilities.

“The architect had such a good imagination,” Moss said. “It’s a home now. It’s not just a property anymore.”

Other downtown lofts carry a hefty price tag, with some costing more than $1,000 per month. Adding quality apartments with affordable rents into the mix is key to the city’s goal of driving growth downtown, said Chris McGowan, director of urban development for the Greater Waco Chamber of Commerce.

“I’m incredibly excited that people are moving downtown,” McGowan said. “There is no question that having choices for people in where to live is important (to the growth goal).”

cculp@wacotrib.com

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