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Kerrville: State Housing Agency Supports 36-Unit Project by Antler Stadium

Feature Illustration: Concept elevations for Building 1 of The Reserves at Holdsworth apartment project. Courtesy: Overland Development Group.

Posted: 7-26-2021

by Adolfo Pesquera

Kerrville (Kerr County) — A 36-unit apartment project consisting of two three-story buildings was awarded a 9% housing tax credit and given a $1 million direct loan by the Texas Department of Housing and Community Affairs.

The TDHCA Governing Board approved the tax credit award and loan at its July 22 meeting in Austin. Under the agency’s Home Program, the direct loan funds must be committed within 24 months of receipt.

The loan was contingent on the Governing Board’s approval of the tax credit award, which was for $900,000.

The Reserves at Holdsworth will be located at 253 Holdsworth Drive North, approximately one block west of Antler Stadium. This is new construction for a garden style residential complex consisting of one, two and three-bedroom units.

Development amenities will include a basketball court, computer lab, clubhouse/community room, dog park, exercise facility, picnic area, playground, theatre, and on‐site management.

In‐unit amenities will include balconies/patios, blinds, carpet/hardwood flooring, ceiling fans, central heating and air conditioning, coat closet, exterior storage, and walk‐in closets. Appliances include a refrigerator with icemaker, dishwasher, range/oven, garbage disposal, microwave, and in‐unit washer/dryer.

Of the total 36 units, 32 will be restricted to 30, 50, and 60% of the Area Median Income (AMI) or lower by HTC. Of the 32 units, 10 will be designated as Multifamily Direct Loan (MFDL) units at either 30% or 50% AMI. Four units will be unrestricted market rate units.

The Reserves at Holdsworth will occupy a 6-acre lot. The area of the buildings total 48,218 square feet. That includes an 1,892 square-foot clubhouse and 14,034 square feet of residential in Building 1 and 32,292 square feet for Building 2.

The surface parking lot provided will have 75 spaces. That includes seven ADA accessible spaces.

The site plan includes a detention area on the east side of the lot. Traffic access will be one curb cut onto Holdsworth Drive North.

The estimated cost of construction, according to the budget submitted to TDHCA is $6,878,986. Total development costs, with soft costs and other fees, is about $10.5 million.

The developer is Overland Development Group of Salina, Kansas. The project architect is Jones Gillam Renz of Kansas City, Missouri.

The general contractor is MCP Build Inc. of the MCP Group in Topeka, Kansas.

VBX Project ID 2021-55F3


adolfo@virtualbx.com

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By |2021-07-26T11:38:17-05:00July 26th, 2021|Construction Preview, Feature Story|

About the Author:

Adolfo Pesquera (Reporter/Editor) is a veteran news journalist. He has worked for Hearst Corp., American Lawyer Media, News Corp and Freedom Communications. His work has been published in newspapers and magazines across the USA. He is a journalism graduate of UT-RGV. He writes, edits and creates digital pages for VBX.

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