ORANGE —
Sabine Park Apartment Homes, 111 Pine Street in Orange, is seeking alternatives to housing requirements.
The complex currently operates under a 100% Land Use Restriction Agreement (LURA) which requires the residents to meet certain requirements to qualify for residency.
The complex is currently operating at 50% occupancy and has been at a below break-even position for over a year according to Corinthian Real Estate President Bradley Jones, owner of the property.
Jones asked the Orange City Council to support the company as it applies for Texas Department of Housing Community Affairs to change from 100% Land Use Restriction Agreement (LURA) to 50% LURA and 50% Market Rate.
Jones said he had a study conducted which suggested the complex switch to the new rate so as to not saturate the market rate value.
“We are currently turning away potential tenants,” Jones said during the council meeting Monday. “We are asking for community support as we move forward with the application.”
The council passed the resolution 5-2.
The council approved the Orange Economic Development Corporation top enter into an agreement with J&D Construction for the extension of water and sanitary sewer lines on Farm to Market 3247/Martin Luther King Drive from the Sabine River Authority Canal for the purpose of economic development.
The bid was for a total of $695,061.62.
The bid includes the cost for the alternate of the last 410 feet east of 1st Baptist Church Orange. The extension would create a water loop and allow for two fire hydrants. The cost of the alternate is $21,200.
Fittz and Shipman Inc. engineer Donald King said Sabine Rive r Authority also looked at the plans and no surprises are expected.
The bid is less than was budgeted for the project.
Mayor Jimmy Sims said that Orange is about to be on the map, in reference to the Bassmaster Elite Tournament this week.
“Let us show some Orange hospitality,” Sims said.
Government
Related Photos
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Sabine Park Apartment Homes, 111 Pine Street in Orange, wants to apply for Texas Department of Housing Community Affairs to change from 100% Land Use Restriction Agreement (LURA) to 50% LURA and 50% Market Rate. Pine-Oaks Partner, LLC asked the Orange City Council Tuesday for the city’s support. Leader photo by Dawn Burleigh
Discussion
Apartment complex seeks agreement changes
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