Chisholm Trail Senior Village

1003 West Martin Luther King Junior Ave. Belton, TX 76513
Status: Available
Year Built: 2006
Price: UNPRICED OFFERING
# of Units: 60
# of Buildings: 16
# of Stories: 1
Rentable SF: 49,365
Lot Size: 6.575 Acres
Density: 9.13 Units/Acre

Quick Stats:

  • Existing LIHTC Senior Property Placed in Service in 2006
  • Belton’s location is in the heart of the vibrant Temple-Killeen-Ft Hood MSA and the recognized excellence of its school district, low crime rate and beautiful neighborhoods with easy access to public transportation makes Belton a perfect place for families and retirees to call home.
  • Belton school district and all of its campuses received the Texas Education Agency’s highest accountability rating based on student performance on the State of Texas Assessment of Academic Readiness.
  • Employment growth in Belton has outpaced the Killeen-Temple-Fort Hood MSA and the state of Texas. Employment in Belton grew from 5,236 in 2002 to 8,611 in 2014 an increase of 64% over the period. Meanwhile, employment growth over the same period in the Killeen-Temple-Fort Hood MSA was 21% and 26% for the state of Texas.
  • One Block from the private University of Mary Hardin-Baylor with an annual enrolment of 3,900 which was chartered in 1845 by the Republic of Texas making it the oldest continuously operating college in the state.
  • The region’s per capita personal income grew 47% from 2003-2013, on par with the state average of 46%, according to the Bureau of Economic Analysis and Texas Comptroller of Public Accounts. The workforce grew 14.4% the same time period beating the national average of 4.7%.

Description:

Chisholm Trail Senior Villages is a 60-unit affordable housing community designated for senior residents.  Located in Belton, TX, the property is in close proximity to the Belton Senior Center, restaurants, numerous churches, and various retail amenities such as a Wal-Mart Supercenter, Walgreen’s, and H-E-B.
The property was built and placed in service in 2006 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires 54 units to be rented to income qualifying residents earning no more than 30%, 40%, 50%, and 60% of Area Medium Income (AMI) limits, which are provided by the Texas Department of Housing and Community Affairs. The remaining units are unrestricted. The property is still within its initial tax credit compliance period and has extended use restrictions until 2046. Historically Underutilized Business (HUB) requirement has been removed per an amendment to the TDHCA Land Use Restriction Agreement.
Residents benefit from well maintained grounds, clubhouse, gated access, on-site laundry facilities, on-site library, picnic area with bbq, and a fitness center. Unit amenities include a full appliance package, extra storage, pantry, walk-in closets, and washer and dryer connections.

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