Harlingen, TX, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Representatives from Texas State Affordable Housing Corporation (TSAHC), Harlingen Community Development Corporation (Harlingen CDC), and Texas Community Bank gathered on October 24th to welcome the first homeowner to the Mesquite Wood community in Harlingen and to highlight their collaborative efforts to provide affordable homeownership opportunities. They were also joined by representatives from Texas State Senator Morgan LaMantia's office.
"Creating affordable paths to homeownership for South Texans is a top priority for me,” said Senator LaMantia. "It's my distinct pleasure to dedicate this community alongside TSAHC, Harlingen CDC, and others and celebrate our shared vision of creating affordable housing opportunities for all hard-working Texans.”
In early 2023, TSAHC purchased 22 lots in the Mesquite Wood subdivision and partnered with Harlingen CDC to develop affordable single-family homes on the lots. To date, three homes have been constructed, with two homes sold and one home currently under contract. Nineteen (19) additional homes are planned for the community.
"Providing affordable homeownership opportunities to hard working families is central to our mission,” said Fred Huerta, Executive Director of Harlingen CDC. "That's why I'm excited to stand alongside TSAHC and others who helped create this community and celebrate the current and future families who will have an affordable place to call home that they own.”
TSAHC and Harlingen CDC collaborated on the Mesquite Wood development through TSAHC's Affordable Communities of Texas program, a statewide land banking and land trust initiative that assists local nonprofits with the acquisition and redevelopment of properties.
"Our shared success in delivering high-quality, affordable homeownership opportunities is a result of the partnerships made possible by the ACT program,” said Valerie Cardenas, Vice-Chair of TSAHC's Board of Directors. "We're thankful the Texas Legislature gave us the authority to create a program that leverages our resources and expertise with those of local nonprofits.”
Texas Community Bank also played a key role in the creation of Mesquite Wood by providing TSAHC with a program related investment in the ACT program that enabled TSAHC to purchase the lots. The Bank is also providing stipends to cover the cost of Internet for one year to households that earn up to 80% of the Area Median Income.
The home sales price starts at around $200,000, and homes are targeted to households earning up to 80% of the Area Median Family Income.
Daniel Morales, a new homeowner at Mesquite Wood, expressed his gratitude for becoming a new homeowner noting that he was looking forward to the stability and security it will provide his family and the long-term financial benefit it will offer through equity. Most notably, Mr. Morales said, "Homeownership can give me a place to create lasting memories with my family and friends.”
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About TSAHC
The Texas State Affordable Housing Corporation (TSAHC) is a statewide non-profit organization that works to facilitate, preserve, and expand affordable housing opportunities for Texans, with the vision that every Texan will have a place to call home. For more information, please visit www.tsahc.org.
About Harlingen Community Development Corporation
Established in 1991, Harlingen Community Development Corporation is a 501(c)(3) nonprofit whose mission is to offer enhanced affordable homeownership and rental housing opportunities to families and individuals, and to offer financing and technical assistance to community-based groups and entrepreneurs in the City of Harlingen and the State of Texas. For more information, please visit www.harlingencdc.org.
CONTACT: Katie Claflin
Texas State Affordable Housing Corporation
9403908096
