MCALLEN, Texas - Texas Land Commissioner Dawn Buckingham visited south McAllen this week to participate in a groundbreaking ceremony for a new multifamily housing complex.
Buckingham said the General Land Office was awarding $5 million to build Jackson Road Apartments, a 36-unit affordable rental community. She said all 36 units are guaranteed for low- to moderate-income (LMI) residents.
The funding is coming from a federal government program to help with disaster recovery.
Among the dignitaries at the event were state Sen. Juan Hinojosa, Hidalgo County Judge Richard Cortez, Hidalgo County Commissioner Everardo Villarreal, McAllen City Commissioner Omar Quintanilla, and McAllen Chamber of Commerce Chairman and former McAllen Mayor Jim Darling.
“Anytime we can find affordable housing for our people, that's not only a good thing, that's a great thing,” said Judge Cortez.
“We are excited today to be here to break ground on this wonderful $5 million project that is going to help over 36 families, all low- to moderate-income, find a place to start and grow and gain that prosperity, judge,” Buckingham,” said.
Also present was Bill Fisher, representing the co-developers, Rise Residential and Sphinx Development.
Fisher said a one-bedroom apartment to rent in McAllen can cost at least $1,000 a month. He said the affordable housing available at Jackson Road Apartments will cost $300 a month.
“Sphinx and Rise are mission-driven businesses. We are both from Dallas but we have a large local presence here,” Fisher said. “Rise and Sphinx have built over 1,000 affordable housing units in Cameron and Hidalgo counties. Our mission is to bring the state’s federal housing resources to the Valley and we have been one of the most impactful over the last 20-plus years.”
Fisher said that while Sphinx and Rise serve as the general contractors, they do not do the construction.
“We kind of provide the financial guarantees. So, all the subcontractors, the plumbers, the electricians, the framers, the people that paint and put stucco and brick and put the infrastructure in are all local businesses, 90 percent of them from Hidalgo County.”
So, effectively, Sphinx and Rise are providing housing and economic development, Fisher said.
“But, it would not be feasible if it were not for the federal dollars that have come through the GLO to Hidalgo County.”
Fisher said the complete site covers ten and a half acres. He said Sphinx and Rise own the back seven and a half across. He said the front three acres will be kept by the owner for retail development.
Fisher added: “First of all we will build the 36 units that are affordable with the GLO (money). We will also pursue another 56 on the balance of the seven and a half (acres) through an upcoming competition with another state agency to bring even more affordable housing to the site. We are shooting to get 88 affordable housing units in here if we can. But, again, if it were not for the GLO we would not be hear at all.”
Editor's Note: Here is an audio recording from the event, including commentary from Buckingham, Cortez, and Fisher:
