BRYAN – The Brazos County Housing Finance Corporation has approved a partnership called the Sandy Creek GP LLC and voted to approve a $20 million multifamily housing revenue bond.
Sandy Creek Apartments, which is owned and managed by Dominium Development, is on Sandy Point Rd. near SH 21. It qualifies for a 50 percent tax break due to its low-income status.
With support from the Brazos County Housing Finance Corporation, Sandy Creek Apartments will soon get a makeover. In return, Dominium will make a $250,000 payment in lieu of taxes, an amount county leaders say should cover taxes for the next five years.