Summary
An existing 336-unit affordable complex asked to sell to the Texas Housing Foundation and go off the tax rolls in exchange for ~$100,000/year. The council said no, citing a ~$500,000 annual loss to the school district; the owner warned the property could be foreclosed on, eliminating affordability restrictions.
At a glance
- Total mentions
- 1
- Last 30 days
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Last discussed Jul 14, 2026.
Impact analysis
The city would have received about $100,000/year in PILOT payments but forgone roughly $293,000/year in property taxes; the school district faced about $500,000/year in losses.
If approved, lower-income renters and the preservation of affordable units; as denied, city and school district taxpayers.
Riverstone residents could lose affordable housing if the property is foreclosed and sold.
Mentions & discussions (1)
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