Bonner Carrington is taking a second crack at development in Waxahachie with a planned 168-unit apartment complex.
The Austin-based development company first proposed a 250-unit senior living development called Mariposa Apartment Homes to the Waxahachie City Council in 2017. According to a previously published Daily Light article, the homes were age-restricted for seniors 55 or older and included amenities such as a pool, movie theater, barbershop and library.
Emily Protine, a community outreach liaison for Bonner Carrington, said the developers were ready to commit $1 million toward the apartment homes. However, after the council approved a resolution of support for the development, the company hit a snag — the state did not accept the application for federal tax credits.
“We were trying to be a part of this community before we even put a nail in the ground or even have an employee in the city limits,” Protine said. “We’ve really had to try and re-evaluate what we’re doing with this particular site and this particular program.”
The company went back to the drawing board and came back with a new proposal for the Waxahachie City Council to consider. Protine said the company wants to invest in a 168-unit development, Cypress Creek Apartments, that would begin construction in early 2020.
According to their website, Bonner Carrington has eight Cypress Creek Apartment complexes in various cities throughout the state. Protine said unit options range from 708-1,361 square feet, with 68 units being one-bedroom apartments and four units being four bedroom apartments. Amenities include a resort-style pool, fitness center, community kitchen, clubhouse and wi-fi lounge.
Protine stated that 60 percent of the units would have an income restriction that applicants would have to qualify for, while 40 percent of the units are market-rent and will have no income restriction attached.
Unlike the Mariposa Apartment Homes development, Protine said the Cypress Creek Apartments would not have an age restriction. She said she hopes this will make the Cypress Creek apartments more competitive in the market and more viable for federal tax credit approval.
“We’re hoping because there are more funds allocated for general population community, that will be considered competitive this year and be able to get our development off of the ground,” she stated.
Protine said Bonner Carrington is eager to join the Waxahachie community and she’s hopeful that the Cypress Creek Apartments will succeed where the Mariposa Apartment Homes didn’t.
“We’ve been attempting to develop in the community for over the past two years,” Protine expressed. “We’re really excited and grateful for the opportunity to call Waxahachie home.”