HOPE Housing Foundation partners with the United StatesDepartment of Housing and Urban Development to preserve 232 units of Affordable Housing in Dallas, TX.
Hallettsville, Texas, Monday, March 31, 2014—Hope Housing Foundation (HOPE) a McKinney,
Texas based 501(c)(3) affordable housing provider has acquired a 24 unit Multi-Family community
in Hallettsville, Texas known as Lavaca Landing Apartments (The COMMUNITY). The
COMMUNITY was developed in the early 1980’s using Low Income Housing Tax Credits
(LIHTC)’s issued by the Texas Department of Housing and Community Affairs (TDHCA).
The COMMUNITY was acquired by HOPE receiving a generous donation of the General and
Limited Partnership Interest from the previous Owner. HOPE decided that this was a perfect
opportunity to acquire an asset that would allow them to further perpetuate its Mission of positively
affecting the lives of the community they serve, and become one of the largest multi-family
affordable housing providers in Hallettsville.
The COMMUNITY is financed with a Rural Development loan from the USDA, and has a Housing
Assistance Payment contract from HUD. The Texas Department of Housing and Community
Affairs was the issuer of the tax credits and is the ongoing compliance monitor. The COMMUNITY
will be professionally managed by Assertive Management Group, Hope Housing Foundation’s
wholly owned Managing Agent.