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Council tables Texas Housing Foundation cooperation agreement for 150 income‑restricted units; asks for wider taxing‑entity engagement
Summary
The council voted to table a cooperation agreement request from the Texas Housing Foundation and Lone Star Development Partners for a 150‑unit income‑restricted apartment project at Friendship Lane and South Eagle Street, and asked staff to pursue conversations with the county and the school district before further action.
Fredericksburg City Council on a mid‑July agenda meeting voted to table a proposed cooperation agreement that would have allowed the Texas Housing Foundation (a nonprofit housing developer) to develop a 150‑unit income‑restricted apartment community on 11.37 acres at the northwest corner of Friendship Lane and South Eagle Street.
Developers presented the project as a 100 percent income‑restricted property with units targeted at households earning 50, 60 and 70 percent of area median income (AMI). Jonathan Larson, vice president of development for Lone Star Development Partners, described the project as a garden‑style, two‑story, Class‑A product with 48 one‑bedroom, 56 two‑bedroom…
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