MARBLE FALLS — Groundbreaking for an affordable-housing apartment complex supported by the Texas Housing Foundation is planned for later this month, the City Council heard this week.
The ceremony could be Sept. 26, with construction of Oak Creek Town Homes to start soon after, said Mark Mayfield, foundation president and chief executive officer.
The complex will contain 80 apartments, and rents will make them affordable for young professionals including teachers, firefighters and police officers, officials said.
“It is going to be a real nice place to live,” Mayfield told the council during an update Sept. 6.
Several months ago, the foundation and Marble Falls Redevelopment Venture LP formed a partnership to develop more than 4 acres for the new apartments.
They decided to build the new dwellings in the empty tract between Sixth and Seventh streets, Avenue L and an unpaved alley about one block east of Avenue K.
The partnership secured more than $8 million for the development from the Texas Department of Housing and Community Affairs. Also, the partnership received a loan of $2 million for the development from TDHCA, Mayfield said.