60-Unit Apartment Complex Approved for Paris

The Paris City Council approved a multi-story, 60-unit apartment complex on an eight-acre site in 2024, targeting both Section 8 housing choice voucher holders and private-pay residents. The council also approved commercial and residential tax incentives associated with the project, signaling municipal support for increasing the city's housing supply.

The mixed-income approach — combining affordable housing with market-rate units — is designed to serve a broad spectrum of Paris residents, from workers at the new TxDOT headquarters and Huhtamaki manufacturing plant to retirees and young professionals drawn by the city's growing job market and low cost of living.

Why new apartments matter for commercial investors

New multifamily development in a market like Paris serves two functions. First, it directly addresses a housing supply gap created by the city's recent job growth — TxDOT's 160 employees, Huhtamaki's 80 new manufacturing jobs, and Amazon's 100 delivery workers all need housing, and Paris's existing rental inventory is limited. Second, new apartment residents generate consistent daily demand for the retail, food service, medical, and personal services that surround commercial properties.

The city's willingness to grant tax incentives for the project reflects an understanding that housing supply is a constraint on economic growth. When workers cannot find adequate housing near their jobs, they commute from Sherman, Bonham, or Greenville — spending their paychecks and their time in other communities. New apartments in Paris keep those dollars local.

The housing-employment connection

Paris's population has held steady at approximately 25,000 residents, but the employment base has been expanding rapidly. The PEDC reported nearly $100 million in new capital investment and 540 jobs in 2024 alone. When job growth outpaces housing construction, the result is rising rents, low vacancy, and workforce retention challenges that limit a city's ability to attract and keep employers.

The 60-unit project is one response to this dynamic. For commercial property investors evaluating 1905 E Price St, the apartment approval is a signal that Paris's leadership is actively working to close the housing gap — a prerequisite for sustaining the commercial growth that makes properties like this one valuable. A city that builds housing alongside jobs is a city that keeps its economic momentum.