Odessa housing development planned for community members who make around $70,000 or less
Public and private entities in Odessa are working to bring moderately-priced housing to the community.
The city of Odessa has several projects underway to help provide housing to community members. The city is currently taking bids from developers to establish housing on Rochester and Seminole Street, according to a post by the city.
The other project is a joint venture with the Odessa Housing Finance Corporation on Fitch Avenue and Avenida De Mexico.
A Board Member of the Odessa Housing Finance Corporation, Jim Rector, said the corporation plans to build at least 42 homes on the vacant lots.
“The one area that’s being neglected, totally neglected, is the modest income group where we try to service the school teachers, the first responders, and those people. Which are houses that need to sell in the neighborhood of $135,000 and $165,000,” he said.
Rector said the OHFC owns some of the land, and the city will be transferring its parcels to OHFC so the finance corporation can start building.
The local developer said the future development aims to house single-families who make around $70,000 a year or less.
“We have four major enemies in our town of housing. One of them is time, we need it now. The other is cost of building and cost of development. And then the cost and the time it takes to put in the infrastructure,” he said.
The infrastructure will be put in first, financially aided by the Odessa Development Corporation and others, according to Rector.
“Our focus right now is to find a different type of construction that where once we start, we can go fast then completed, ready to walk in. And that we can sell in the $135,000 to $165,000 range. We’re hoping we can build homes for that group of people because they’re the most underserved in our community,” he said.
Rector said once they’ve determined how the homes will be constructed, they will be able to determine a timeframe for the development’s completion.
Rector said he believes their work will put a dent in the need. The developer said he believes, based current populations projections from the state, there will need to be a minimum of around 4,000 or more of the homes in this price range in the next five years.
The OHFC also has another project in the works, an apartment complex on 87th Street it hopes will serve upwards of 150 community members.