Red River Senior Village is a 60-unit affordable housing community for residents of ages 55 and older. Located in Vernon, TX, the property is within minutes to the North Texas State Hospital, Wilbarger General Hospital, a Wal-Mart Supercenter, and other area amenities.
The property was built and placed in service in 2005 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires 57 units to be rented to income qualifying residents earning no more than 30%, 50%, & 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 2045. 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, patio, and washer and dryer connections.