Developers in Haltom City are planning to build affordable housing for senior citizens. According to Ryan Combs, the senior vice president for the development firm JPI in Irving, work will begin in 2022.
The 220-unit development, Parmore Fossil Creek, will be located at the corner of Fossil Creek Boulevard and Fossil Ridge Circle.
“We started talking with Haltom City about a year ago about doing some housing for seniors that is more affordable, that really targets seniors being squeezed by housing costs,” said Combs. He says JPI wants to increase the amount of affordable housing available to seniors.
The cost of rent at Parmore Fossil Creek will be based on the individual’s income. The apartment complex will feature a variety of amenities, including a fitness center, a resort-style pool, a clubhouse, granite countertops, and stainless-steel appliances.
The initial groundbreaking will take place in February, and leasing is planned to start in mid-2023. The Texas Department of Housing and Community Affairs is financing the development through a 4 percent tax credit program.
Rex Phelps, the Haltom City Manager, said that JPI approached the city with the idea to take on this project.
He said that if a developer purchases land and deeds it back to the city, “The city has no liability risk and will receive property tax dollars. We were open to it for senior living, to help seniors on a fixed income. It makes it possible for seniors to have a place with very high-end amenities at a discounted rent because of tax credit.”
Combs stated that there is an explosion of seniors leaving the workforce who need affordable places to live. “Haltom City has its fair share of the aging population. What are their options as they age? They can’t afford a high-end single-family community,” said Combs. “The benefit is that we don’t want you (seniors) to be lonely. We want you to have friends.”
JPI is also working with Apartment Life, a faith-based organization, on a program that invites couples to help seniors socialize.