Thirty-eight developments have received reservations for low-income housing tax credits from the Texas Department of Housing and Community Affairs  (TDHCA).

The agency will provide $39.5 million in financing to the projects though its 2011 tax credit program.

The developments will have an estimated 3,457 units of affordable rental housing for residents earning no more than 60 percent of the area median income and will have a direct economic impact totaling an estimated $276.5 million for the state, said TDHCA.

The properties will expand housing options for the state’s growing population of retirees and younger working families while generating a significant impact on the economy, according to the agency.