Churchill Stateside Group clarifies market rate status of Tampa housing project

August 01, 2025 | El Campo, Wharton County, Texas


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Churchill Stateside Group clarifies market rate status of Tampa housing project
The El Campo City Council meeting on July 28, 2025, focused on clarifying concerns regarding a new housing project and its financing. City officials addressed recent public apprehensions stemming from a newspaper article that misrepresented the project's nature, particularly regarding income levels and rent prices.

Joseph, a project sponsor, emphasized that the development is not intended for low-income residents, stating that the average rent would exceed $1,400 per month, well above the threshold for low-income housing. He explained that the project is classified as market-rate housing, with a rent restriction set at 115% of the area median income.

Blair Henderson, a representative from Churchill Stateside Group, the project's lender, reinforced this message. He detailed the rigorous underwriting process that ensures the project's financial viability and compliance with regulations. Henderson noted that the project has passed an environmental review and is currently in the final stages of underwriting, with a groundbreaking anticipated in September.

Both speakers acknowledged delays caused by external factors, including staffing changes at HUD and USDA, which have impacted the timeline. Despite these challenges, they expressed optimism about moving forward and completing the project.

The meeting concluded with a commitment to transparency and communication with the community, aiming to alleviate any remaining concerns about the housing development.

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