Corpus Christi Caller Times Caller.com - Mathis to get lower-rent apartment complex

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Tuesday, February 29, 2000

Mathis to get lower-rent apartment complex
DMA Development ready to begin $3 million project
Andrea Jares
Caller-Times

A $3 million apartment complex is about to get started in Mathis.
   DMA Development Co. is preparing to break ground on the 66-unit project, to be called Mariposa Gardens, designated for renters making less than 60 percent of the median income. DMA Development of Austin is soliciting bids for construction that will begin in April.
   Concept Builders of San Antonio is the general contractor. Gary Chiles Architects of Austin is the architect.
   The apartments will have a mix of one-, two- and three-bedroom floor plans as well as a computer/business center, playground and a community room.
   The 700-square-foot, one-bedroom apartments, 940-square-foot, two-bedroom apartments and 1,200-square-foot three-bedroom apartments are likely to range in monthly rent from $350 to $550, according to DMA Development.
   DMA Development does a range of developments, in part specializing in affordable housing projects using state tax credits. The company is building apartment complexes in Luling and Gonzales.
   The housing tax credits are used as leverage to build new housing in which developers can charge less rent.
   Amphitheater waits in wings
   Look for activity to start soon at the former Alamo Cement yard in the next month, said Burt Moorhouse, president of Moorhouse Construction. The Corpus-Christi-based general contractor is expected to take out a building permit within the next 30 days to build an amphitheater.
   The company, which is also busy with the Waterfront Development for the Port of Corpus Christi, will begin construction almost immediately thereafter, Moorhouse said.
   The amphitheater project is a privately funded venture by real estate investor Bill Durrill Jr. and radio station manager Jerry LaTouf. It is expected to accommodate 5,000 people in the two-block area in the vicinity of Power, Tancahua and Fitzgerald streets, just south of Heritage Park.
   Keep signatures coming
   The Corpus Christi Downtown Management District has collected all of the signatures on the petition to keep its charter for another three years. But that doesn't mean the organization wants to stop collecting signatures.
   The signatures were completed in less than three weeks, said Norma Urban, executive director of the district. Signatures must come from at least 50 percent of the land value and land area of the property in the district.
   Urban said any additional signatures to the petition will be used to show the solidarity of the downtown district for marketing purposes. The district has until July 31 to collect the signatures before the current term ends.
   Sav-On chain up for sale
   Office supply retail chain Sav-On is up for sale as part of parent company Tandycrafts Inc.'s new focus on the home decor sector of its business.
   The 41 chains, including the one at 5813-B Weber Road, are included in the sale. So far, there is no buyer, said Jeffrey Lambert, spokesman for Fort Worth-based Tandycraft.


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

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