LUBBOCK, Texas (KCBD) – City Council leaders unanimously approved a $22-million bond rehabilitation program for a central Lubbock apartment complex. The funds will not come out of the city’s budget.
With the approval, the federal government will give a $22 million tax-exempt revenue bond to the Lubbock Housing Finance Corporation.
The money will buy The Ella Apartments complex and go toward renovations of the 152-unit facility.
During the hearing portion of the meeting, Lubbock Mayor Mark McBrayer said he believes everyone would like to see something done with the property.
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