Elrod Place: Credits Crunched

Katy residents upset with the prospect of a new low-income housing development in their community have won a round: Elrod Place, a 126-unit, 25-acre project proposed for 3700 Elrod Place—near Katy’s Bridgewater subdivision—won’t be able to get the $12 million in state housing tax credits the developers had applied for. The Texas Department of Housing and Community Affairs has denied the application by Barry Kahn of Hettig/Kahn Holdings.