Addition of four developments brings Harvey Multifamily Program total to 3,900 new homes
$100 million expansion of Harvey Multifamily Program will provide additional affordable homes to essential workers, seniors, and vulnerable Houstonians.
The City of Houston Housing and Community Development (HCDD) is allocating $56 million to support four additional developments, creating nearly 450 new rental homes. These additions expand the Harvey Multifamily Program to over 3,900 new rental homes in 34 developments with a total construction cost of $1.1 billion. Over 86% of the rental homes will be rented to Houstonians at affordable prices for the next 40 years, providing for several generations of residents.
The new rental developments represent an investment in essential workers and their families, along with seniors with limited income and residents experiencing housing insecurity. OST Lofts will cater to the needs of working individuals and families, providing affordable rentals to residents in essential jobs, such as paramedics, pharmacy workers, teachers, and grocery store clerks. Richmond Senior and Lockwood South (Phase 2) will create new homes specifically for low- and moderate-income seniors, providing opportunities for seniors to live in their communities as they age, even as rents rise around the city. Jackson Hinds Gardens will provide permanent supportive housing to help maintain a strong support system for vulnerable, housing-insecure Houstonians.
By leveraging City grant funds against the primary funding of bank loans, state-allocated tax credits, and philanthropic funding, the Harvey Multifamily Program will nearly triple its impact on behalf of low-income families. The final balance of the Harvey Multifamily Program funding is expected to be announced shortly. This program is supported through federal Community Development Block Grant (Disaster Recovery) funds, issued by the U.S. Department of Housing and Urban Development and overseen by the Texas General Land Office.
In addition to the long-lasting impact of new rental homes, the Harvey Multifamily Program will invest in working-class Houstonians through the construction phase. All workers on these developments will receive a minimum $15/hour living wage, along with robust safety measures, and apprenticeship and training opportunities, as specified in the Build It Better Houston Agreement. Each development will also meet designated resiliency and environmental efficiency requirements.
More information on the four newly added proposals can be found in the table below. For more information on the Harvey Multifamily Program, including details and progress updates on all 34 developments and an interactive map and gallery, please refer to www.recovery.houstontx.gov/multifamily .
|Development||Developer||Other Financing||Total Units||Council Dist.||HCDD Priority1||Population||Reccomended Award2|
|Richmond Senior||Brownstone Development||9% HTCs3||125||J||Located in TIRZ 1||Senior||$15,500,000|
|OST Lofts||DWR Development/Tejano Center||4% HTCs||125||I||Located in TIRZ 74||Family||$15,380,000|
|Jackson Hinds Gardens||Houston Housing Corporation||4% HTCs||111||H||Preservation of supportive housing||Supportive Housing||$14,089,000|
|Lockwood South (POhase 2)||Buffalo Bayou Partnership/Brinshore Development||4% HTCs||80||H||Located in the Second Ward Complete Community||Senior||$11,130,000|
The City of Houston Housing and Community Development Department (HCDD) makes long-term investments to better the lives of Houston residents by creating opportunities for every Houstonian to have a home they can afford, in a community where they can thrive. Our department receives over $100 million in federal, state, and local funding annually to construct and maintain affordable homes, reduce barriers to homeownership, support the work of social service providers, build public amenities, and facilitate disaster recovery efforts. Learn more about our programs and resources for Houstonians at www.houstontx.gov/housing.
 HCDD outlines yearly and programmatic priorities for its work in the community, according to long-term goals to build equity and leverage funding in creative ways to pursue its mission.
 Awards are subject to change during the underwriting process.
 HTCs: Housing Tax Credits are provided by the U.S. Department of the Treasury and distributed annually by the Texas Department of Housing and Community Affairs.
 TIRZ: Tax-Increment Reinvestment Zone are concentrated areas that direct local taxes into provision of community benefits, including affordable homes.