Back to Main Page: Frisco-TX-Homes.com

Home > Local News >Frisco TX Section 8 Housing Proposal

 

This project have been voted out and hence will not be built. No other Section 8 projects have been discussed for Frisco TX since then.


The City of Frisco TX, in conjunction with Stewart Creek LLP plan to build North Court Villas - an apartment complex development on 10 acres on the south side of Stonebrook Parkway between Woodstream and Preston Road. The North Court Villas plan to accept 25% of its residents based on its Section 8 housing voucher. As a result of this, it receives tax credits and a $2 million grant to the City of Frisco to incentivize affordable housing developments in Frisco TX.

The community apartment North Court Villas complex will be new construction with 3 floors and a total of 7 buildings built by Stewart Creek LLP.

This North Court Villas Apartment development includes 1-,2- and 3-bedroom units. The Low Income 1 Bedroom Rent is proposed at $591, 2 Bedroom at $709 and 3 Bedroom at $819. Along with these housing units, the apartment community amenities will include a common laundry facility, swimming pool, fitness center and clubhouse facility, a business center, gazebo with sitting, barbeque grills and picnic tables and also children's playscapes.

Many Frisco TX residents oppose the Section 8 affordable housing development project. The residents do not feel that it brings direct benefits to Frisco. This Frisco TX Affordable Section 8 housing is believed to benefit residents in the metroplex other than Frisco TX. Frisco is one of the fastest growing cities in Texas with median income of residents over $100,000 per year. Less than 4% of Frisco TX residents earn less than the national poverty level. It is said that retailers have difficulty attracting Frisco TX residents to work in its stores because of its minimum wage salary. However, other residents of the metroplex who would have normally been happy about minimum wage salary will find it far to drive to Frisco for work.

When a Section 8 housing accepts a rent voucher, it must fall within the (+/-) 10% range of Fair Market Rent. Fair Market Rents of apartment complexes have been lower than single-family residences in Frisco TX.

It is speculated that the City of Frisco TX will not proceed with the proposal if it does not receive the tax credits needed to fund the Affordable Section 8 housing project development. There are about 60 projects after the $10 million in tax credits statewide. Frisco currently stands between the 30 to 40 positions in scoring.

Instead of building and allowing a concentrated of Section 8 housing in Frisco, the next alternative is to let Section 8 housing voucher recipients to live where they want in Frisco. Landlords in Frisco TX can individually decide to accept the Section 8 voucher. Hence, letting Section 8 housing be "spreaded" within the city itself. There will be less impact to the city as a whole. Landlords and tenants are responsible for the individual upkeep of the properties. It will not be as focus in a concentrated area.

 

FEATURED LISTINGS
 

FRISCO Home, TX Real Estate Listing

Meadow Hill Estates Frisco TX Home for Sale
4 bedrooms, 3 baths, approx 3071 sq. ft.

$239,900

 

Frisco Home, TX Real Estate Listing

3 bedroom + Study home in Hillcrest Estates
3 bedrooms, 2 baths, approx 1925 sq. ft.

$179,900

 

Frisco Home, TX Real Estate Listing

Panther Creek Estates Home for Sale
3 bedrooms, 2 baths, approx 1894 sq. ft.

$178,900

 

Frisco Home, TX Real Estate Listing

Hardwood Floor, Granite + More
4 bedrooms, 2 baths, approx 2795 sq. ft.

$219,900

» More Listings

QUICK SEARCH
DAILY FIXED MORTGAGE RATES

*Rates subject to change without notice

FRISCO TX HOMES OF THE WEEK
REAL ESTATE MARKET REPORTS
Be an INFORMED CONSUMER
Join Social Media Conversations In
  Loreena Yeo on Facebook  Loreena Yeo on Twitter Loreena Yeo on Linked In  316teamrealty Flickr channel


Active Rain is the Top Real Estate Blogging Platform

Facebook Frisco TX City Guide    3:16 team REALTY Facebook Business Page

Loreena Yeo on Zillow

Loreena Yeo

 

About Loreena & 3:16 team REALTY






 



 

 

 

Loreena Yeo - Realtor(R) in Frisco TX | Broker
M.Sc, B.Sc
Direct (214) 783-2210
Fax (214) 231-9018
Email Me Here

>> Learn about Loreena

>> Learn about 3:16 team REALTY

>> Read More About What Satisfied Clients
Have to Say

>> Check out what our clients have to say on Zillow Review


 

3:16 team REALTY
is a proud Member
of Frisco TX Chamber of Commerce

   

 

Loreena Yeo is the broker of record of
3:16 team REALTY to practice real estate in Frisco & surrounding cities (State of Texas). Texas Real Estate Broker License Number #9001154.

CLIENT TESTIMONIALS

Read about what our satisfied clients have to say:

When she arrived for our appointment, we went through the normal preliminary procedures and all was fine. Then she surprised us. She had already done most of the work and only needed to take a few pictures of the inside and determine the price that we would be comfortable asking. She also spent a great deal of time explaining to us how the whole sales process work and what we could expect.

Eric & Tomoko Quere, Plano TX

 

Ultimately, Loreena introduced us to the house we bought--it was not one we found from our own hours of searching web listings--based on the the comments we had made while we visited these different homes. This is a testimony to her ability to listen well and to work proactively on our behalf.

Jenn & Glen Miller, Denton TX

We were completely impressed with Loreena. She helped us find and buy a home in Frisco. We have very high expectations from a realtor and she surpassed them. Knows her market extremely well, not just the technical market pricing data, but the nuances of all the neighborhoods as well. One of the most responsive and professional persons I've met in my entire business career.

Ruth & Jerry Meek, Frisco TX

I just want to thank you again for your help in selling our house. In this tough economy and market, I really didn't expect to get an offer. But you counseled me so well in pricing the house to sell and yet not letting me accept an offer that was too low. I believe we got the best deal we could have. I was so pleased and surprised with what we walked away with.

Sally & Phillip Barnard, Frisco TX

 


Email Loreena! Learn more about Loreena - the person behind the website Watch Welcome Video
Powered by LinkURealty - Real Estate Web Design & Websites