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Since 1987, National Equity Fund® has invested more than $13 billion revitalizing neighborhoods,
fostering economic growth and creating affordable sustainable housing.

Covington Townhomes

Covington Townhomes

Family Housing

The Covington Townhomes development was the demolition of a pre-World War II Covington Homes public housing project in Texarkana, Texas, and the construction of 126 new townhomes in 27 buildings.

The new community, called The Oaks at Rose Hill after the Rose Hill neighborhood where it’s located, is the second of a five-phase redevelopment by the Housing Authority of Texarkana Texas involving the demolition of obsolete public housing and the construction of new, safe and affordable housing in its place.

The Oaks at Rose Hill offers 32 one-bedroom, 62 two-bedroom and 32 three- bedroom townhomes, 107 of which are leased to families earning at or below 60 percent of Area Median Income. The remaining units target families earning at or below 30 percent of AMI. The development includes a community building with a fitness center, business center, library and coffee bar.

The adjacent Rose Hill area is an established neighborhood just west of downtown Texarkana. The townhomes’ color schemes and close distance from the sidewalk help the new development blend in with its surroundings.

National Equity Fund invested $11.1 million of LIHTC equity in the development. 


Project Details

Completed
2012
Location
1210 Milam Street
Texarkana, TX
Project Type
New Construction/Family
Total Units
126
Mix of Residences
32 1-BR, 62 2-BR, 32 3-BR
Limited Partnership
Texarkana Two Neighborhood Ventures, Ltd.
Tax Credit Equity
$11.1 million
Total Project Costs
$16.8 million
Sponsor
$16.8 million
Permanent Lenders
Community Development Trust
Housing Authority of Texarkana Texas
City of Texarkana, Texas
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