The $15 million Pearland Senior Village is currently under construction and will open next year, thanks in part to the Texas Department of Housing and Community Affairs’ (TDHCA) 2009 Competitive Housing Tax Credit program.
The 126-unit complex sits on ten acres on the 8100 block of Broadway between Bayou Rd. and the Tranquility Lakes Development. It will house tenants ages 55 and older.
The senior living facility, designed by Houston-based Brownstone Architects and Planners, will offer one- to two-bedroom units ranging from $315 to $650 per month.
The project is the first in Pearland to use the TDHCA program, which granted the developers more than $1.5 million of the $9 million construction costs, allowing development to continue.
The program issues mortgage revenue bonds to finance loans for qualified nonprofit organizations and for-profit developers.
source: Pearland Journal-News
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