Longview affordable housing project takes step

A rendering shows what Edgewood Place apartment complex on Clinic Drive in Longview is expected to look like. Construction on the project is set to begin in May, a developer said.

A Longview apartment complex designed to meet the needs for workforce or affordable housing is likely to begin construction in May and take 15 months to build, the developer said this week.

Megan Lasch, a partner with Lisa Stephens in Austin-based Saigebrook Development, said construction of the 74-unit Edgewood Place on Clinic Drive will be followed by a project to renovate the historical Petroleum Building in downtown Longview into Alton Plaza. That affordable housing project will yield 49 units.

“We are excited to break ground and start this quality project,” Lasch said of Edgewood Place, which is near Longview Regional Medical Center.

Saigebrook hired Crossroads Housing Development of Big Spring and Maker Bros. of Addison to build Edgewood Place.

The contractors applied this week for three permits for residential multifamily new construction for the three-story apartment complex. They also applied to build a 2,814-square-foot clubhouse at the complex.

The permits total $5.14 million in value, according to city data.

To make the two housing projects economically feasible while attracting renters with moderate incomes, Saigebrook applied this past year to the Texas Department of Housing and Community Affairs for federal tax credits.

The department this past summer awarded about $1.1 million in tax credits a year for 10 years to Saigebrook to build Edgewood Place and convert the Petroleum Building.

Lasch has said her company would not build affordable apartment complexes without the tax credits. Stephens and Lasch completed the 78-unit Amberwood Place apartment complex off Hawkins Parkway and McCann Road about four years ago, using the tax credits.

Lasch said earlier that Edgewood Place will be a $13.1 million project, while Alton Plaza will cost $7.8 million.

The Petroleum Building has fallen into a state of disrepair since closing years ago and faced potential demolition. Municipal Judge Larry Merriman in August 2016 deemed it substandard and ordered then-owner Rainier Capital Management of Dallas to install a 13-foot-high wall built around the building’s garage entrance to keep out vagrants.

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