Corpus Christi Caller Times Caller.com - Leases going fast at affordable housing complex

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Tuesday, April 25, 2000

Leases going fast at affordable housing complex
Also, Pete's Chicken and More is expanding; city's Association of Realtors celebrates 75 years

David Pellerin/Caller-Times

Half of the 52 completed apartments at the 196-unit South Pointe Apartments, 5725 Curtis Clark Drive, are filled with tenants. The apartments use state tax credits to drive down rent. The amount charged has to be affordable to families earning 60 percent of the median income.

The 196-unit South Pointe Apartments at 5725 Curtis Clark Drive, off South Staples Street, is filling up with tenants before construction is complete. Half of the 52 completed apartments are leased.
   Apartment buildings still under construction should be finished by September.
   The apartments are being built by Austin-based developers Flores, Elizondo and Associates. The affordable-housing developers use state housing tax credits as leverage to lower the amount of rent charged.
   The rent varies according to the renter's income. The apartments can only charge rent that is affordable to families earning 60 percent of the median income.
   There are two different floor plans:

A 990-square-foot two-bedroom, two-bathroom apartment rents for up to $515 per month.

A 1,189-square-foot three-bedroom, two-bathroom apartment rents for up to $594 per month.
   The first tenants started moving in at the end of February, said Sandra Lara, property manager.
   The apartments also include a playground, tennis and basketball courts, a pool and a library.
   Florida-based Picerne Construction is the general contractor.
   75 years of Realtors group
   The Corpus Christi Association of Realtors may be a new name, but the organization has been around for 75 years. The group will mark the anniversary with a luncheon from 11:30 a.m. to 1 p.m. Thursday at the Corpus Christi Country Club.
   Local real estate pioneers will speak about the way high-profile real estate deals have shaped the city's development.
   Cost is $15 and reservations can be made by today at the association office located at 5250 Everhart Road.
   Pete's Chicken and More

George Gongora/Caller-Times

Pete's Chicken and More is expanding. Michael Garcia (right) and his wife, Patricia, bought a franchise from owners Randy Maldonado (left) and his wife, Yvette, who own the store at 3801 Agnes St. The new 13,000-square-foot location will be located on Kostoryz Road near Sokol Drive.

   The city will see more of Pete's Chicken and More as the 23-year-old Agnes Street restaurant experiments with franchising.
   The restaurant's next location will be at 5401 Kostoryz Road, near Sokol Drive. Construction began on the building Thursday. The store is expected to employ 12 people.
   Michael and Patricia Garcia bought the franchise from Randy and Yvette Maldonado, owners of the restaurant that serves fried take-out dinners. The store's new 1,300-square-foot location will be closer to the southern part of the city, where there has been population growth, said Garcia, a project engineer at Celanese.
   The second location is set to open in September. If it's successful, another franchise will be built on Staples Street near City Hall in 2001.
   Homebuying classes
   First-time homebuyers who want to get into a house but have questions about the steps to take can learn more at upcoming classes.
   The Consumer Credit Coun-seling Service of South Texas will discuss concerns such as how a mortgage company looks at a credit report, figuring out how much you can afford, the role of the real estate agent and what happens when closing on a property.
   The free, 2-hour class also includes a workbook.
   The next class is set for 10 a.m. Saturday at the main office located at 1706 South Padre Island Drive at Greenwood Drive.
   To reserve a seat, call the CCCS at 1-800-333-4357.



On Real Estate is published every other Tuesday in the business section. Business reporter Andrea Jares can be reached at 886-3678 or by email at jaresa@caller.com

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