The K Avenue Lofts multifamily development expects to sit on the 5.3 acres of land on the corner of K Avenue and Park Boulevard that was rezoned from commercial to a planned development space at a Feb. 23 meeting. (Liesbeth Powers/Community Impact Newspaper)
Plano City Council will not object to a 4% tax credit for an affordable housing development on K Avenue, according to a resolution passed March 22.
The K Avenue Lofts, a proposed multifamily development, will be able to include this statement of no objection in its application to receive the housing tax credit from the Texas Department of Housing and Community Affairs.
Council members moved to approve the resolution with a vote of 5-3. The state department ultimately decides whether or not the housing community will receive the tax credit, and city approval of the resolution does not indicate support for any proposed plans,…
