ITEX Group Prepares to Break Ground on New Affordable Housing Project
- Dec 04, 2014
By Liviu Oltean, Associate Editor
ITEX Group, a private real estate investment firm headquartered in Port Arthur, Texas, will soon start work on turning an empty flea market into an affordable apartment and retail complex. Dubbed The Village at Palm Center, the project will feature about 222 housing units – 154 apartments and 68 townhomes – and 14,500 square feet of retail space.
Located at 5330 Griggs Road, the project received $15.3 million in federal funding from the Hurricane Ike Disaster Recovery Program, which is meant to spur the creation of affordable housing for low- to moderate-income individuals affected by the hurricane.
According to the company’s official website, The Village at Palm Center will combine two- and three-story townhomes and apartment buildings, which will help create the foundation and character of the new neighborhood. In addition, parking will be supplemented with a parking garage for apartment residents and individual garages for townhome tenants.
Units’ amenities include Energy-Star appliances and light fixtures, nine-foot ceilings, laundry connections, granite counters, hardwood-style flooring, double crown molding and private storage. The community will also have at its disposal a promenade, resort-style pools, playgrounds, gazebos, a splash pad, barbecue pits and picnic tables. The center of the project will be a 4,000-square-foot community building with a computer lab, a state-of-the-art exercise facility, meeting areas, a coffee bar and a daycare center.
Image courtesy of ITEX Group via official Website