Developers Say A New Apartment Complex Will Grow Local Economy

Published 09/03 2013 04:23PM

Updated 09/03 2013 08:48PM

Developers say a new living complex, which will provide tax credit affordable housing, will be good for the local economy and create job growth.

Stakes are placed in the about four acres of land off Regent Drive for the complex.

A local developer say Wichita Falls is short about 1100 affordable housing units.

The new facility will have 36 apartments with a club house and gate entry.

And project broker Andy Lee says it will build up the local economy.

“Typically if we build 100 units 134 jobs are created during the construction period and it generates somewhere close to $800,000 in income in growth income that occurs,” he said.

Plans to extend Maplewood alongside the property are also in the works.

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