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December 17, 2019 Comments Off on Houston City Council OKs $23M Loans for Affordable Housing Views: 333 Houston-Galveston, Texas News

Houston City Council OKs $23M Loans for Affordable Housing

The Houston City Council approved the allocation of federally backed loans for two affordable housing apartment complexes in the Gulfton and Heights neighborhoods. The loans, totaling $23 million, will aid in the development of 229 affordable units.

The Gulfton development at 5612 S. Rice Ave. is being led by the Brownstone Group. The council approved a $12.4 million loan for the 115-unit project; the monies are funded by a portion of Hurricane Harvey Community Development Block Disaster Recovery Grants.

Near the Heights, Crossroads Housing Development will receive $11.2 million in financing to develop a 114-unit, $30 million, mixed-use project for seniors at 900 Winston Ave. Construction timelines or names were not available for either project.

Pictured: Houston City Hall

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