Affordable Units Fully Funded
Press Release
CORPUS CHRISTI - Prospera Housing, a nonprofit owner and operator of affordable housing projects in South Texas had applied with the Texas General Land Office (GLO) for Harvey funds to construct the Village at Greenwood apartments. This project is proposed to be located at the corner of Greenwood Drive and Frio Street in Corpus Christi, Texas.
The project was originally awarded less funds than requested and had to request $1,250,000 from the City of Corpus Christ for the new construction of 60 units. Without the City’s support of this request this project would not have been able to proceed.
Now, with the persistent help of State Representative Todd Hunter, Mayor Joe McComb and District 3 Councilman Roland Barrera, the GLO has increased the award for the project in Corpus Christi to an amount allowing Prospera Housing to fully fund the project without Type B Funding.
District 3 Councilman Roland Barrera whose district the project will be constructed stated that by continuing to pursue extra federal pass thru funding, the returned Type B funds will be preserved until another affordable housing project comes along. “It’s pretty rare that anyone returns funds to the city, but Prospera Housing is a rare organization dedicated to creating meaningful partnerships with local entities to build and preserve affordable housing,” Councilman Barrera said.
Gil Piette, the CEO for Prospera Housing, reaffirmed that when Prospera applied for Type B funding for this project, Prospera committed to the City that it would only take such funds as necessary to complete the project. Prospera is pleased to report that with the help of State Representative Hunter and Mayor McComb and Councilman Barrera, this allocation of additional federal funds to Corpus Christi allows the nonprofit to build more affordable housing units than was originally presented. As a result, Prospera will no longer need City funds for this project and is happy to return the funds to the City of Corpus Christi.