Ambassadors Meeting 7/10/17
First of all - good news! At the Planning & Zoning Commission last evening, the Ambassadors had a good representation in support of the two "affordable senior apartment complexes" on the Agenda. Both (i) "Residence at Arbor Grove" 126-unit brought by OVP Group on Gibbins Rd (near Cooper@Randol Mill) and (ii) "Secretariat, 74-unit complex brought by NRP Group on Debbie Ln (between 360 and Collins) were approved and move to City Council for final approval at the City Council Meeting on August 8. We expect that City Council will give their final approval and then the developers will have to obtain the tax credits administered by the Texas Department of Housing and Community Affairs (VERY COMPETITIVE). Developers who want to provide affordable housing to seniors must jump through a lot more hoops than those developers who offer "market rate" apartments or "luxury" apartments for seniors. I SO appreciate developers who are willing to go through all government approval processes (!) in order to offer "affordable" options to seniors who can no longer endure the upkeep of a house. OVP and NRP could ignore the "affordable" market and just focus on "market rate" and/or "luxury" because they both build complexes for those markets, but they don't. So I say "thank you" (!) to them.
Combined, these two developments only offer 200 "affordable" apartments which is a drop in the bucket but it's a start. Each of these developers has a stellar reputation for the senior apartments they have developed in other cities and I hope they will come back to this area (either in Arlington or a contiguous municipality) to propose more "affordable" apartments.
So now, to "recap" Monday's meeting of the Ambassadors: