City of Houston
Mayor Sylvester Turner

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News Release |An Additional 400+ Affordable Rental Homes to be Funded with Harvey Recovery Funds

Following last week’s announcement of a $52 million investment in federal Harvey Recovery Program funds towards the development of affordable rental homes, the Housing and Community Development Department has announced five additional awards. The five new developments will yield more than 400 additional affordable rental homes.

The developments will be funded through leveraging 4% Housing Tax Credits and private equity totaling more than $61 million. After unprecedented interest from developers in building affordable housing in Houston the department continues to build a pipeline to replace rental housing stock lost during Hurricane Harvey. Many units will be set aside to provide affordable homes for low- to moderate-income families throughout the city.

Newly Announced 2019 Multifamily Development Awardees – Round 1

Development Developer(s) Other Financing Total Units Council District HCDD Priority Award Amount*
Avenue on
34th
Avenue CDC 4% HTCs 70 C Areas experiencing high rental costs that cause displacement of LMI households $7,400,000
Change
Happens City
Living
Change Happens / NHP 4% HTCs 74 D Located within Third Ward Complete Community $
12,518,766
Scott Street
Lofts  
Mark-Dana Co/ Urban Partnership CDC 4% HTCs 123 I Transit Oriented Development $
15,730,788
The Gale
Winds Apartments
Avenue CDC Conv 18 H Preservation of existing affordable multifamily housing $1,226,750
The Briarwest Apartments Blazer Development 9% HTCs 120 G Area of low poverty concentration and high performing schools $2,500,000
900 Winston Magellen Housing TX / Royal American Development 9% HTCs 114 H Area of low poverty concentration $9,250,000
Bellfort Park
Apartments
KGC Development 9% HTCs 64 K Preservation of existing affordable multifamily housing $3,500,000
Gala at
MacGregor
Gardner Capital 9% HTCs 85 D Located within Community Reinvestment Area (TIRZ 7) $9,570,000
Edison Lofts DWR Development Group / Edison Arts Foundation 9% HTCs 126 K Located within Community Reinvestment Area (TIRZ 11) $8,000,000
McKee City
Living
Covenant Community Capital / Gulf Coast Housing Partners 9% HTCs 120 H Located within area of low poverty concentration $
11,700,000
South Rice
Apartments
The Brownstone Group 9% HTCs 115 J Located within Gulfton Complete Community $
10,000,000
Total     1,029     $
91,396,304

*Transactions have not yet been underwritten by the Housing and Community Development Department or reviewed by the Texas General Land Office.  Allocation amounts may vary at the time of City Council approval and are subject to revision

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