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JUNE 2018

Multifamily Press

Grand Opening Celebrated for The Heights of Edinburg Affordable Apartment Community

by Dan Pittman

With the snip of a ribbon, The Heights of Edinburg, a new $19 million, 128-unit affordable, multi-family apartment community located at 2132 E. Wisconsin Road in Edinburg, Texas, was formally opened on June 6.

State and local public officials, community leaders, as well as members of the ownership and development team attended the event.  The Heights offers housing for working families and individuals seeking a safe high quality living space with accessibility to amenities in a beautifully designed residential community.

"I'm pleased to join the City of Edinburg, Casa Linda Development and Highridge Costa for the grand opening of The Heights in Edinburg,” said State Senator Juan “Chuy” Hinojosa. “As our communities grow, we must continue our public and private investments in developing affordable housing units for our residents.  These partnerships allow our low to moderate income residents access to a safe, well maintained, and affordable place to live and raise their families."

“It is wonderful when public private partnerships successfully come together to create an outcome that works for the community and improves the quality of life for the residents,” said State Representative Terry Canales. “The Heights is a perfect example of how the various levels of government can work together with private developers to provide quality affordable housing options for area residents.” 

"Affordable housing is very important to a growing community like Edinburg,” said Edinburg Mayor Richard Molina. “We have people living here from all walks of life, and affordable housing is necessary for those facing financial hardship. The City of Edinburg gladly submitted a letter of support for this project because it's something that we need in our city and something that will improve the quality of life of many of our citizens. This is an example of public private partnerships bringing good to our community." 

The new contemporary garden-style apartment community comprises eight, two-story buildings that offer one, two and three-bedroom rental floor plans.  This gated community features beautiful landscaping, swimming pool, and a picnic area.

Indoor amenities include a furnished community clubhouse with fitness area, business center, laundry room, kitchen, and onsite leasing office with property manager and staff. Each apartment will feature nine-foot ceilings, central air-conditioning and heating, full-size energy efficient appliances, including refrigerator, garbage disposal, stove/oven, and dishwasher, plus washer/dryer connections, cable TV hookup and a private patio or balcony.

Dallas-based Casa Linda Development Corporation and California-based Highridge Costa Housing, LLC developed The Heights. The project was designed by Humphreys & Partners Architects.

To finance the development and construction, Wisconsin Street Housing, LP, the project owner, was awarded $1,432,741 annually for a 10-year period in federal housing tax credits from the Texas Department of Housing and Community Affairs (TDHCA) in July 2015. The investment partners are Victoria Capital, along with Aegon USA Realty Advisors, LLC. The project financing was provided by Citibank Community Capitol.

The Housing Tax Credit Program creates housing opportunities for working families by offering tax credits to investors. The public/private federal program is the most successful affordable rental housing production program in U.S. history, having financed to date approximately two million units nationwide since its inception in 1986.

“TDHCA offers its congratulations to all those involved with the planning and completion of The Heights of Edinburg,” said Tim Irvine, TDHCA Executive Director. “Already, this beautiful community has provided a positive impact on the region, serving as a strong economic boon to the city now and in the future, and as a quality affordable housing option to the residents and families that call Edinburg home.  We estimate that nearly $2 million in wages were earned in the construction phase, and a total economic impact of nearly $33 million will be generated for the area with the building and continued operations of The Heights.” 

“Few industries have a greater impact on working American families than does ours.  At Highridge Costa, we take tremendous pride in our ability to create quality new affordable multi-family housing as we are doing here in Edinburg. We feel very fortunate that our ‘work’ creates such good for so many lives,” said Michael Costa, President and CEO of Highridge Costa Companies of Gardena, California.

“We would like to thank all of the organizations and people who worked together, and the vital roles they played, to develop this affordable apartment community for working families in Edinburg,” said Mohannad H. Mohanna, President and Managing Member of Highridge Costa Housing, LLC.

“Even though I live and work in Dallas, I was born and raised in Hidalgo County. As a Valleyite, I am proud to bring this important and high quality apartment community in the great City of Edinburg to families seeking a safe and affordable place to call home,” said Linda S. Brown, President of Casa Linda Development Corporation.

 

For more information, visit https://www.theheightsedinburg.com or call 956-587-0552.

 

 
 
 
 
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