WACO, Texas (KXXV) — Waco Housing Authority voted to move forward on the Heritage at Waco development, 240 units of mixed-income housing on New Road across from University High School.
- The Cohen-Esrey website says Heritage at Waco will support 386 local jobs and once occupied it will support 106 jobs.
- Heritage at Waco will have 120 units at fair market rate and 120 units will be below 80% of median income with discounted rent and Section 8 Housing Vouchers
- Waco Housing Authority says the median income in Waco is $83,200 for a family of four
- The current market-rate rent is around $1,100 for a one bedroom and around $1,400 for a two bedroom
- Separate from the development, Waco Housing Authority says they have a nearly 3,000 person waitlist to apply for the Section 8 Voucher program
BROADCAST TRANSCRIPT:
"Rent is not going down, it's going up," Milet Hopping said. "That's not going to stop."
Waco Housing Authority President Milet Hopping told 25 News that our community has a housing disparity and that the lack of rentable and affordable housing affects every income level.
"A mixed-income society like Waco needs to take care of everyone, not just the most vulnerable," she said.
The housing authority is moving forward with the Heritage at Waco development, 240 units of mixed-income housing on New Road across from University High School, hoping to provide more affordable housing options.
"Because there has been this horrible housing crisis going on forever, there needs to be creative ways of addressing it," President Hopping said.
The Housing Authority partners with developers, allowing builders to use the nonprofit's tax exemptions to build new units and keep costs down, but with stipulations.
"We do say to them, okay, but 50% of the units must be at 80% of median or below. The other 50% can be fair market rent."
Heritage at Waco will have 120 units at fair market rate and 120 units below 80% of median income with discounted rent and Section 8 Housing Vouchers. In Waco, the median income for a family of four is just above $83,000.
"By doing these kinds of mixed-income components, we also help create a network of communities," Hopping said.
Hopping says an apartment complex like this will allow more people to choose where they live since options are limited when relying on low-income housing vouchers.
"We want them to choose what school district they want their kids to go to, what work they want to be close by, and if they have a transportation issue, wouldn't it be great to walk to work."
