8135 First Street
Somerset, Texas 78069 map
(830) 429-3092

Casitas de Merced

Units

Bdrms

Baths

SF

Rent

24

1

1

700

$349

4

2

2

838

$459

28 Total

Management: Alpha Barnes
Year Completed: 1997
Date of Acquisition: Pending
On-site Staff: 2
Land Area: 2.04 acres; 88,862 SF
Gross Building Area: 20,977 SF
Net Rentable Area: 20,152 SF
Number of Buildings: 7
Number of Stories: 1
Parking Spaces: 40

Casitas de Merced

Amenities

All units include emergency call system with exterior light and siren, central heating and air, ceiling fans, private porches, washer/dryer hook-ups, storage areas, and electric appliances. Site amenities include: community room and large patio, laundry facilities, on-site parking, on-site management office, extra security lighting, and garden plots.

Resident Services

The apartment manager coordinates resident services, including recreational events and referrals to needed social services.

Affordability

Casitas de Merced is a Low Income Housing Tax Credit (LIHTC) development. 40% of the units (12 units) are reserved for individuals and families with incomes at or below 50% of the Area Median Family Income (AMFI) and the remaining 16 units are reserved for individuals and families with incomes at or below 60% of AMFI. Of the units reserved for those with incomes at or below 50% of AMFI, 7 units are classified and restricted as low rent HOME units. Additionally, 80% of the units are designated for people 55+ years of age. The 2005, 50% and 60% AMFI for a single individual, as are most property residents, in Bexar County is $18,050 and $21,660, respectively.

Financing

Financing for Casitas de Merced was provided by the Mercy Loan Fund and Mercy Housing, Inc., the U.S. Department of Housing and Urban Development (HOME Investment Partnership Program), Bexar County Department of Housing and Human Services, Bexar County Housing Finance Corporation, City of Somerset, Texas Department of Housing and Community Affairs, and Fannie Mae.

Additional Information

Merced Housing Texas acted as the developer for Casitas de Merced. Merced is currently negotiating with its former parent, Mercy Housing, Inc., to replace Mercy Properties, Inc., as the general partner for the owner of the property, Somerset Senior Housing, Ltd.