Plano Housing Corporation

PLANO HOUSING CORPORATION, THE ORGANIZATION, IS INVOLVED IN CONSTRUCTION OF NOT-FOR-PROFIT HOUSING AND URBAN REHABILITATION, IN COOPERATION AND COORDINATION WITH THE CITY OF PLANO, TX FOR THE ACQUISITION, ESTABLISHMENT, IMPROVEMENT, AND MAINTENANCE OF HOUSING TO BENEFIT ALL CITIZENS AND RESIDENTS OF THE CITY OF PLANO, TX.

THE PURPOSE OF PLANO HOUSING CORPORATION (PHC)IS TO BECOME INVOLVED IN CONSTRUCTION OF NOT-FOR-PROFIT HOUSING AND URBAN REHABILITATION IN COLLIN COUNTY, TEXAS, IN COOPERATION AND COORDINATION WITH THE CITY OF PLANO, TEXAS FOR THE ACQUISITION, ESTABLISHMENT, IMPROVEMENT, AND MAINTENANCE OF HOUSING TO BENEFIT ALL CITIZENS AND RESIDENTS OF THE CITY OF PLANO, TEXAS AND ESPECIALLY THOSE PERSONS DISADVANTAGED IN ANY WAY. PLANO HOUSING CORPORATION THROUGH PLANO FAMILY 001, LP HAS PURCHASED LAND IN DOWNTOWN PLANO AND CLOSED ON THE PROPERTY JULY 31, 2019 AND CONSTRUCTION BEGAN IN AUGUST 2019 ON THE ONE HUNDRED THIRTY-NINE (139) UNITS OF PHASE ONE PATRIOT PARK. PATRIOT PARK IS AVAILABLE TO THE GENERAL POPULATION, BUT WITH PREFERENCES FOR ARTISTS AND FOR VETERANS. THIS IS THE FIRST PHASE OF A TWO PHASE PROJECT WHICH WILL HAVE A MINIMUM OF TWO-HUNDRED TWENTY (220) UNITS IN TOTAL. AS OF YEAR END 2020 PATRIOT PARK IS APPROXIMATELY SEVENTY-FIVE PERCENT (75%) COMPLETE WITH AN ESTIMATED DATE OF COMPLETION AND ONE HUNDRED PERCENT (100%) OCCUPANCY IN MID 2021. PREDEVELOPMENT WORK HAS STARTED ON PHASE II FOR PATRIOT PARK FOR THE REMAINING ADDITIONAL EIGHTY-ONE (81) UNITS. VERANDA 40 TOWN-HOMES LAND WAS PURCHASED AND EXCHANGE OF 2016 CREDITS TO 2018 CREDITS WERE APPROVED IN MAY 2018 BY THE TDHCA. CONSTRUCTION TO BUILD FORTY (40) TOWNHOMES FOR WORKFORCE HOUSING IN NORTH PLANO, TEXAS STARTED IN MARCH 2019. IN SEPTEMBER OF 2020 VERANDA TOWN HOMES' FORTY (40) UNITS WERE COMPLETED AND CERTIFICATES OF OCCUPANCY GRANTED BY THE CITY OF PLANO, TEXAS. VERANDA TOWNHOMES ARE ONE-HUNDRED PERCENT (100%) PROJECT BASED WALKER VOUCHERS WITH A TWENTY (20) YEAR CONTRACT. BY NOVEMBER 2020 VERANDA TOWNHOMES WERE ONE-HUNDRED PERCENT (100%)LEASED. DOUGLAS VISIONS (A PLANO, TEXAS NONPROFIT) WAS ENGAGED TO PROVIDE SOCIAL SERVICES TO THE RESIDENTS OF PATRIOT PARK AND VERANDA TOWNHOMES. DOUGLASS VISIONS HAS DEEP ROOTS IN THE COMMUNITY AND A EXCELLENT HISTORY OF SERVING THE CITY OF PLANO, TEXAS. THE TEAMS IN PLACE WILL ASSURE UPWARD MOBILITY FOR THE RESIDENTS LIVING IN PATRIOT PARK AND VERANDA TOWNHOMES. INTEGRATING THESE FAMILIES INTO THE COMMUNITY AND CONNECTING WITH SERVICES NEEDED WILL BE PARAMOUNT TO THEIR SUCCESS AND THE SUCCESS OF THESE PROPERTIES.PATRIOT PARK AND VERANDA TOWNHOMES CONTINUE TO REMAIN ONE-HUNDRED PERCENT (100%) OCCUPIED IN 2021. PLANO HOUSING CORPORATION HAS INVESTED PROCEEDS FOR THE NEEDS OF THESE RESIDENTS DURING THE COVID PANDEMIC WORKING WITH LOCAL INDIVIDUALS AND OTHER NONPROFIT ORGANIZATIONS.PHASE II OF PATRIOT PARK VACANT LAND WAS SOLD IN 2021. PHC COMPLETED PREDEVELOPMENT ON THE SITE INCLUDING APPROVED SITE PLAN TO FACILITATE THE SALE OF THE PROPERTY. PROCEEDS FROM THE SALE OF THE PROPERTY WERE PLACED IN CERTIFICATES OF DEPOSITS. PHC STARTED RECEIVING DEVELOPER FEES ON VERANDA AND PATRIOT PARK AND WAS ABLE TO MAKE DONATIONS TO THE COMMUNITY IN ORDER TO FULFILL ITS PROMISE TO THE COMMUNITY FOR SUPPORTING VERANDA AND PATRIOT PARK.PREDEVELOPMENT AND MARKET ANALYSIS CONTINUES ON POTENTIAL ECO HOMES IN GARLAND, TX WITH CITI SALUTES. VOLUNTEER HOURS FROM INDIVIDUALS IN THE COMMUNITY, CITIBANK, AND DOUGLAS VISIONS WERE OVER TWO THOUSAND (2,000) HOURS. THIS NUMBER WAS LESS THAN PRIOR YEARS DUE TO COVID RESTRICTIONS.PLANO HOUSING CORPORATION IS INVESTING IN POTENTIAL VETERAN HOUSING IN THE GREATER PHOENIX AREA AND ESTABLISHED A SATELLITE OFFICE TO WORK WITH LOCAL PARTNERS. DUPLICATING A VERANDA TOWNHOUSE TYPE DEVELOPMENT FOR VETERANS IN NEED IS THE GOAL.