Developer plans to build affordable housing for senior citizens in Haltom City
Haltom City officials are working with a developer to build affordable housing for senior citizens who are on fixed incomes.
Ryan Combs, senior vice president for the Irving-based development firm JPI, said work will begin in early 2022 on the 220-unit Parmore Fossil Creek at the southwest corner of Fossil Ridge Circle and Fossil Creek Boulevard.
“We started talking with Haltom City about a year ago about doing some housing for seniors that is more affordable, that really targets seniors being squeezed by housing costs,” Combs said.
Rent will be determined by the person’s income.
Combs said there isn’t enough affordable housing for seniors, and that JPI wants to help fill the void.
The Parmore Fossil Creek will be an independent living community, and there won’t be medical facilities on site, Combs said.
The Parmore Fossil Creek will feature amenities including granite countertops, stainless-steel appliances, a fitness center, a resort-style pool and a clubhouse and fitness center.
The groundbreaking is scheduled for February, and leasing should start in mid 2023, Combs said. Parmore Fossil Creek is financed through a 4 percent tax credit program through the Texas Department of Housing and Community Affairs.
The tax credit program directs private investment toward developing and preserving rental housing for people with limited incomes.
Haltom City Manager Rex Phelps said JPI approached the city with the proposal to build housing for senior citizens.
“We were open to it for senior living, to help seniors on a fixed income,” he said.
Phelps said a developer can get tax credits by forming a partnership with the city. The developer purchases the land and deeds it back to Haltom City. “The city has no liability risk and will receive property tax dollars,” Phelps said.
“It makes it possible for seniors to have a place with very high-end amenities at a discounted rent because of tax credits,” Phelps said.
Combs said there is an “explosion of seniors leaving the workforce who need affordable places to live.
“Haltom City has its fair share of the aging population. What are their options as they age? They can’t afford a high-end single-family community,” Combs said.
People often stay in their homes, and when they start falling apart because the person can no longer take care of it, cities issue code violations, he said.
“Cities are aware that it (issuing citations) doesn’t help anything. It doesn’t eliminate the problem,” Combs said.
JPI is also working with a faith-based nonprofit called Apartment Life where couples are recruited to encourage seniors to socialize.
“The benefit is that we don’t want you (seniors) to be lonely. We want you to have friends,” Combs said.
This story was originally published January 3, 2022 at 5:00 AM.