Mesquite, a city in Texas, is facing a shortage of nearly 9,000 housing units. However, this issue is being addressed as the Mesquite Housing Finance Corp. has recently funded a new affordable housing project consisting of 288 units. The development will be known as Wooded Lake Apartments and will be located at 1410 Wooded Lake Drive near I-636 and I-30.
According to reports from the Dallas Business Journal, these income-restricted units will cater to households earning between 50% and 70% of the area’s median income level. In Mesquite alone, the median household income was recorded at $69,649 in 2022.
The oversight and management of Wooded Lake Apartments will be handled by both Mesquite Housing Finance Corp. and NRP Group LLC – based out of Cleveland. Construction for this complex on approximately15 acres is expected to commence in July or August by NRP Group who have been developing communities since their establishment in1994 with over6 ,000 completed units across various areas.
This article was originally published on Connect CRE.
