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Feb 28, 2019

The Providence Now Open

Lubbock leaders and community members joined investment and development partners today to celebrate the launch of “The Providence” –the newest Independent Senior Living community in Lubbock, Texas.

Paul Stell, Managing Director of Stellar Development Company, a Lubbock based company, spoke to the impact The Providence will have on the increasing 65+ community. “Many seniors are in homes by themselves, not very mobile, unable to drive,” said Paul Stell. “They become isolated and their quality of life diminishes.”

Located on 98th street, off Frankford Avenue, close to Regal Park, The Providence consists of 101 apartment units located on 3 acres. The units include 1 and 2 bedrooms and are available to residents who are 55 years and older and who earn up to 60% of the area median income. The property also include a community room, fitness center, business center, movie/activity center, library, storages and beautifully landscaped courtyard with outdoor patio areas.

The Providence is partially financed by equity provided by the Low-Income Housing Tax Credit Program (LIHTC). Considered by industry experts as the most successful affordable housing program in the nation, the LIHTC program brings together government and private developers to provide very high-quality luxury affordable housing to seniors.