New Braunfels City Council approved spending up to $500,000 toward the proposed 76-unit Park at Dogwood affordable housing project on Nov. 9. The council's recorded action authorized the city funding ceiling, not completion of the apartments.
The 76 proposed apartments at 1869 McQueeney Road are intended for households earning 30% to 60% of area median income. The city's Legistar file 26-1275 describes the development and the proposed funding arrangement.
From the source record
Item C: Council approved a resolution recommended by the New Braunfels Economic Development Corporation.New Braunfels City Council meeting recording ↗
Where and when
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- Site
1869 McQueeney Road, New Braunfels
Proposed 76-unit affordable housing development
How the money would work
The proposed city contribution would offset New Braunfels Utilities water and wastewater impact fees for the project, up to the approved ceiling. Those fees are a development cost; the city support is not a grant paid to each future household.
Dividing the approved ceiling by 76 proposed units gives about $6,579 per unit. That gauges maximum city support against the planned apartment count, not a payment to residents or a final construction cost per apartment.
City staff put the overall development cost at about $22.3 million and identified a shortfall of about $1.9 million. The staff account says the fee offset would reduce a deferred developer fee from about 75% to 45%. Covering a portion of utility fees would leave less of the developer's compensation deferred.