June 16, 2012
The first two condo buildings at First Tracks at Wildhorse Meadows were built to satisfy affordable housing requirements in the past decade. However, they never found that market because of changing economics and were released by the city to be sold at market rates. Now, a very tentative plan is being explored to use tax credits to allow two new buildings in the previously approved second phase to be built as affordable rental apartments, including studio and one-bedroom units, which are in short supply.
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Brent Pearson, of Resort Ventures West, has proposed to tap into federal tax credits that could help a third-party developer build out the remaining affordable housing units in Wildhorse Meadows.