City Council Approved a resolution registering support to Atrium Bay Terrace, LP to apply for the 4% and 9% LIHTC through the TDHCA to rehabilitate Bay Terrace Apartments

On Thursday, the City Council Approved a resolution registering support to Atrium Bay Terrace, LP to apply for the 4% and 9% Low Income Housing Tax Credit (LIHTC) through the  Texas Department of Housing and Community Affairs (TDHCA) to rehabilitate Bay Terrace Apartments.

This proposed resolution evidences no objection by the City for Atrium Bay Terrace, LP’s 4% and 9% Low Income Housing Tax Credit (LIHTC) applications through the Texas Department of Housing and Community Affairs (TDHCA) to rehabilitate 130 affordable rental housing units at Bay Terrace Apartments. If awarded, Atrium Bay Terrace, LP proposes to rehabilitate Bay Terrace Apartments located at 1502 Nolan Road.

The Bay Terrace Apartments were constructed in 1983. Atrium Bay Terrace, LP estimates the cost of the project to be approximately $25 million dollars and will include completely rebuilding the interior of all units. A relocation plan is being created to address any temporary relocation of tenants that may occur during the renovation. The improvements will also include, but are not limited to: improving accessibility, repaving the parking lot, repairing fencing, replacing the playground equipment, updating the administrative building, and ensuring that all aspects of the property are enhanced for the benefit of the residents.