MANSFIELD — Even affordable housing is getting more expensive.
Turtle Creek, a senior apartment complex managed by the Mansfield Metropolitan Housing Authority, is raising its rents by $150 a month later this year.
Steve Andrews, executive director of the MMHA, said the last time rents went up was January 2023.
“We’ve been well behind the curve,” Andrews said. “Most other people have raised theirs (rent) multiple times by now.”
The change will bring the price of a one bedroom apartment at 300 James Avenue to $775 a month. All utilities, as well as cable and internet, are included.
Turtle Creek residents include both private pay renters and residents receiving federal housing subsidies through the MMHA.
Executive Director Steve Andrews said the price increase will take effect on March 1 for private pay renters and most residents enrolled in the Housing Choice Voucher program, (also known as Section 8).
About Turtle Creek Apartments
Turtle Creek Apartments is a senior apartment complex located at 300 James Avenue. It is owned by the Mansfield Leased Housing Corporation, a separate, non-profit entity created by the MMHA.
All three members of the MLHC board are appointed by the MMHA board of directors. The MMHA manages Turtle Creek on behalf of the MLHC and receives an administration fee totaling 16.5 percent of Turtle Creek’s revenues.
However, 57 units are currently being rented using Project-Based Vouchers. Rents for those units are locked in under an existing lease and can’t be increased until November.
According to HUD’s website, tenants who receive federal housing assistance generally pay 30 percent of their income towards rent, regardless of whether they received a traditional or project-based HCV.
MMHA director hopes new project manager will boost performance of Turtle Creek complex
Andrews said the MMHA recently created and filled a new position for a property manager at Turtle Creek.
He told board members Tuesday that the new hire has experience with both public and private market rental management as well tax credits.
Andrews said he hopes the agency can pair more efficient operations with increased advertising to reduce the vacancy rate at Turtle Creek.
To get there, Turtle Creek would need to average between four and five vacant units a month. Last year’s monthly average was 12.
“We have an underperforming property,” he said. “Success looks at a 97 percent occupancy rate.”
While residents tend to appreciate the quiet with being tucked away at the end of a dead end street, Andrews said there are downsides to the lack of visibility.
“Lack of awareness is a big issue out of Turtle Creek,” Andrews added. “Nobody knows it exists. My first apartment was three blocks from there.
“I lived in that unit for two and a half years. I did not even know Turtle Creek existed.”