Apartment Complex For Seniors is Coming to Victoria
Realtex Development Corporation is planning to build The Victorian, a 68-unit apartment complex for seniors, at 901 John Stockbauer Drive. The Victorian is the second affordable apartment complex for seniors that the City of Victoria has attracted since 2022 and it is awesome! Construction is scheduled to begin in early 2024 and finish in January 2025. Leasing is expected to begin in late 2024.
MORE ABOUT THE APARTMENT COMPLEX:
The Victorian will include 68 units for residents aged 55 and older. The applicant’s household may include younger relatives; for example, an elderly couple raising their grandchildren would qualify.
Unit size | 1 bedroom, 1 bathroom | 2 bedrooms, 2 bathrooms |
Number of units | 28 | 40 |
Estimated monthly rent | $345-995 | $407-1,295 |
Certain units (a total of 60) will be set aside for residents who make 30%, 50% and 60% of Victoria’s area median income. Income includes Social Security and other benefits. The units will be priced to be affordable to residents in these income ranges according to state guidelines.
Area median income is calculated by the Department of Housing and Urban Development and varies depending on household size.
Household size | 1 | 2 | 3 | 4 |
30% AMI | $15,400 | $17,600 | $19,800 | $21,950 |
50% AMI | $25,650 | $29,300 | $32,950 | $36,600 |
60% AMI | $30,780 | $35,160 | $39,540 | $43,920 |
All units will feature granite counters, full-size stainless steel appliances, spacious balconies, and shaker-style cabinets and doors. On-site amenities will include a resort-style swimming pool, a community room with a business center, state-of-the-art fitness equipment, a pavilion, and a dog park.
“The apartments are designed to help residents achieve healthy living goals, improve their quality of life and promote social interaction at an affordable price,” said Alma Cobb, director of property management for Realtex. “The simple yet thoughtful exterior and interior of the complex have been intentionally designed to encourage a greater sense of community and meaningful existence.”
The property will incorporate clean lines and a modern aesthetic to complement its surrounding context with a simple palette of neutral colors, accented by decorative soffits, pergolas, stucco, and limestone veneer.
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