Posted on April 1, 2019
Since 2010 over 2,500 new apartment complex units were built in Odessa, but the city has seen nearly 17,000 new residents
ODESSA, TX (KWES) – For the last few years, Odessa has experienced a housing crisis.
Odessa residents are familiar with the skyrocketing rent prices that come with the crisis.
Tuesday night at a joint committee meeting, the Odessa Development Corporation presented a workforce housing study to the public.
The study was performed through self-reporting surveys that were filled out in December.
The city expected to receive around 600 responses but were pleasantly surprised with 1,700.
The report showed that since 2010 just over 2,509 new apartment complex units were built in Odessa, but the city has seen nearly 17,000 new residents, if not more.
According to Wesley Burnett, director of Odessa Economic Development, the cause of the crisis was clear in the report.
“That’s all supply and demand, obviously, our supply is too low and our demand is really, really high so we are underserved and underbuilt,” said Burnett.
A new apartment complex broke ground in North Odessa, with hopes to help the community with the housing crisis.
Although the complex will more than likely fall in the higher end of rent prices, Burnett believes that it will still be beneficial for the community.
“Anytime you build a new apartment it’s going to help with some level of the market that needs places to go, obviously I think this is a little higher end apartment but I don’t think that means that it is not necessary or needed,” said Burnett.
The new apartment complex, Latitude 31, hopes to see a diverse community of residents that represent the community.
“We feel like we’ve been a part of this community for a long time. We’re part of the growth and development and we are here for the long term,” said Jack O’Connor, Widener Apartments, C.E.O.
Latitude 31 is expected to open in the Fall of 2021.