Council backs 'Landmark on Pine' tax-credit application to convert historic downtown buildings to senior housing

The Texarkana City Council unanimously approved a resolution supporting Overland Property Group’s application to the Texas Department of Housing and Community Affairs for competitive housing tax credits and a possible multifamily direct loan for a downtown adaptive-reuse project called Landmark on Pine.

Michelle Daniel, a planning staff member, told the council the proposal would adapt existing historic buildings at 301–319 Pine St. into mixed-income senior housing. “The total unit count is approximately about 40 units,” she said, adding that staff supports the application and that the project aligns with the 2018 comprehensive plan’s downtown-revitalization goals.

April Engstrom, representing Overland Property Group, described the proposal as an adaptive-reuse redevelopment of the former Sears and Gazette buildings. Engstrom said the developer currently plans roughly 26 one-bedroom and 12 two-bedroom units (a likely total of 38–40), and estimated a bare-minimum renovation budget of $7.6 million with a total development budget of about $12.5 million. She said the team intends to layer federal historic-tax credits and housing tax credits to make the project feasible.

“We are submitting our application for housing tax credits on Feb. 28,” Engstrom said. She described the typical timeline: notice of award in July, followed by closing and construction if awarded; construction would generally run 12–15 months, with a target completion around June 2027 if all financing and approvals proceed on schedule.

Engstrom emphasized the challenges and advantages of historic adaptive reuse: the buildings require detailed measurement, coordination with historic-preservation consultants and National Park Service guidelines, and potential additional environmental remediation, but the layered tax-credit strategy can make such rehabs viable. She described Texarkana’s downtown stock of older buildings as a “gold mine” for preservation-based redevelopment.

Council members asked about parking and site logistics; Engstrom said the development team is acquiring the parking lot behind the Gazette building and would work with the city to meet parking and permitting requirements.

The council approved a resolution to support the application (Resolution 2025-024). No public speakers addressed the council on this item at the meeting.

Ending: With the council’s resolution of support, Overland Property Group will proceed with its TDHCA application and follow the indicated timeline for award, closing and construction.