Palo Verde Senior Apartments HTC Application Amended
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Description
The TDHCA Board approved a material amendment to the Palo Verde Senior Apartments 9% HTC application for Corpus Christi Huntwick Avenue LP, keeping the $1,948,110 annual credit allocation while permitting an increase from 75 to 80 units and a reconfiguration of rentable and common areas. Updated underwriting reflects higher construction costs offset by increased debt from Citi Bank and the City of Corpus Christi.
Contract Details
Contract Amount
$1,948,110 annual federal tax credits
Vendor
CORPUS CHRISTI HUNTWICK AVENUE LP
Agency
Texas Department of Housing and Community Affairs, TX
Contract Type
OTHER
Document Date
April 4, 2026
Contract Term
Initial 15-year Housing Tax Credit compliance period plus extended use period per LURA; credits based on 2025 9% HTC award
Renewal Info
Amendment modifies development design, unit count, and financial structure while maintaining the original annual tax credit allocation; development remains subject to standard HTC compliance and extended use requirements.
More from CORPUS CHRISTI HUNTWICK AVENUE LP
Issuing Agency
State Housing Authority
Austin, TX
More from Texas Department of Housing and Community Affairs
TDHCA Governing Board Meeting Transcript April 2026
TDHCA Governing Board Meeting Transcript April 2026
TDHCA Governing Board Meeting Transcript April 2026
Texas Department of Housing and Community Affairs Governing Board Agenda Packet April 2026
Texas Department of Housing and Community Affairs Governing Board Agenda Packet April 2026
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