The Authority anticipates submitting mixed-finance proposals for Cedar Springs Place Addition (to be renamed Fairmount Crossing), Brooks Manor (to be renamed Los Encinos) and Little Mexico Village prior to the end of 2017. Approximately 366 mixedincome units will be developed at Fairmount Crossing. The number of units for Los
Encinos and Little Mexico Village has not been determined at this time.
The Authority anticipates submitting a Request for Disposition approval for Little Mexico Village by mid-2017. The proposed disposition via long-term ground lease will facilitate the redevelopment of the site for mixed-income housing
FDIC established the Affordable Housing Disposition Program, or herein referred to as the Affordable Housing Program (AHP), to enhance its ability to sell single family and multifamily properties that will benefit Low Income families.
Under the FDIC’s Affordable Housing Program (AHP) properties were sold to eligible purchasers who make an acceptable offer at or above the property's net realizable market value established by FDIC. In return for purchasing a property at a price below the fair market value, purchasers agree to make units available to Low and Very Low Income households at affordable rents. The rent and income restrictions are designed to assure that, for the next 40 to 50 years, the property serves families in need of affordable housing.
DPatel304 wrote:I really feel like we could do a better job at connect the Katy Trail to Victory Park. There is always a lot of activity on the trail, but, for the most part, it kinda dies down when you hit Victory Park, and, even with all the new construction going on in the area, there still is a weird/dead transition from one to other.
I'd really like to see Little Mexico incorporate some sort of public space where people can gather that connects well to the Katy Trail. Unfortunately, there still is a parking garage and the Magnolia Station lofts, which get in the way of connecting the trail to the plaza, but having more activity at the head of the Katy Trail would help a lot.
petecambell wrote:Thank you everyone for your replies and the information esp on the proposed action for the site. From my understanding, if they redevelop Little Mexico Village for mixed income housing its not going to be much of an upgrade. It will be A slightly better looking neighborhood in place of what is there, but still low to very low income housing correct?
From reading the proposal, It doesnt seem like this land will ever be sold to a developer to put a nice highrise and continue improve the density. Its a shame with how great that location is and also being connected to Katy Trail.
petecambell wrote:From my understanding, if they redevelop Little Mexico Village for mixed income housing its not going to be much of an upgrade. It will be A slightly better looking neighborhood in place of what is there, but still low to very low income housing correct?
Dallas12 wrote:It would be awesome if there were another public/private effort for the creation of a new park, and they could take all the land from the AAC garage moving north and make that one big park.
DPatel304 wrote:Dallas12 wrote:It would be awesome if there were another public/private effort for the creation of a new park, and they could take all the land from the AAC garage moving north and make that one big park.
I'd like to take it one step further and see a deck part over I-35 which would connect Victory Park and the Design District. Seeing as the highway isn't below grade here, I doubt this would be feasible, but with Mark Cuban now having a vested interested on both sides, I'm wondering if there are eventual plans to better connect the two neighborhoods.