Houston, TX 77021
- 210 townhomes
- One, two, and three bedrooms
- Affordable Program: Low Income Housing Tax Credit
- Managed by Vesta since 2016
Funding for the project was provided by a TDHCA bond issuance in conjunction with a Fannie Mae first mortgage utilizing the Multifamily Tax-Exempt Bond (MTEB) program; a CDBG-DR (disaster relief) loan from the City of Houston; tax credit equity from the Low-Income Housing Tax Credit Program and a developer loan. The total cost was $30.2 million.
The redevelopment included a complete renovation of all 210 apartments and townhomes. Community enhancements included a renovated leasing center, new swimming pool, new gazebo, enhanced lighting, and installation of a state-of-the-art security camera system. The community also has an on-site daycare center, as well as case management services and resident activities on-site provided by Star of Hope Mission.