Waco Housing Authority and developers plan to build mixed-income housing

WACO, Texas (KXXV) – The Waco Housing Authority has voted to move forward with the Legacy at Waco project, 240 units of mixed-income housing on New Road across from University High School.

• Cohen-Esry’s website says Heritage at Waco will provide 386 local jobs and 106 jobs once it closes.
• Heritage at Waco will have 120 fair market rate units, and 120 units will be priced below 80% of median income with rent reductions and Section 8 housing vouchers.
• The Waco Housing Authority reports the median income in Waco is $83,200 for a family of four.
• Current market rents are about $1,100 for a one-bedroom apartment and about $1,400 for a two-bedroom apartment.
• In addition to construction, the Waco Housing Authority says they have a waiting list of nearly 3,000 people wanting to apply for the Section 8 voucher program.

broadcast transcript:
“Rents aren’t going down, they’re going up,” Mylet Hopping said. “It won’t stop.”

Waco Housing Authority President Mylet Hopping told 25 News that there is housing inequality in our community and that the lack of rental and affordable housing impacts every income level.

“A mixed-income community like Waco needs to take care of everyone, not just the most vulnerable,” she said.

The housing authority is moving forward with construction of Heritage at Waco, 240 units of mixed-income housing on New Road across from University High School, hoping to provide more affordable housing options.

“As this terrible housing crisis continues forever, creative ways to solve it must be found,” President Hopping said.

The housing authority partners with developers, allowing builders to use nonprofit tax breaks to build new apartments and lower costs, but with caveats.

“We tell them: OK, but 50% of the apartments must cost 80% of the median or below. The remaining 50% may be fair market rent.”

Heritage at Waco will have 120 fair market rate apartments and 120 below 80% median income apartments with rent abatement and Section 8 housing vouchers. In Waco, the median income for a family of four is just over $83,000.

“By doing these kinds of mixed-income components, we’re also helping to create a network of communities,” Hopping said.

Hopping says a development like this would allow more people to choose where they want to live because options are limited when they rely on low-income housing vouchers.

“We want them to choose what school district they want their kids to go to, what jobs they want nearby, and if they have transportation issues, wouldn’t it be great to be able to walk to work.”

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