The Houston City Council approved on April 7 an allocation of $14 million for the project, which is also receiving funding from Texas’ 9% low income housing tax credit, among other sources, to cover the $40 million construction.
The complex is the first to receive a low-income housing tax credit in the Washington Avenue and Rice Military area in 30 years, city documents state. It is part of a broader strategy local officials are leading to disperse affordable housing more evenly throughout the city.
The development, known as the Heritage Senior Residences, will offer 135 one- and two-bedroom units and serve seniors over the age of 55 making between 30% to 80% of the area median income. It will be located at the northeast corner of Center Street and Moy Street, city documents state.
According to the development's website, it is slated to break ground this month and open for residents in the fall of 2022.
In 2019, the Houston Housing and Community Development Department began using a new scoring matrix to determine which affordable housing proposals would go before council for consideration. The new scoring matrix ensures even distribution of affordable housing proposals throughout the city. Selected developments then go before state officials to potentially gain approval for a state affordable housing tax credit.
The scoring matrix, which is used annually to evaluate state affordable housing tax credit applications, was developed in response to a federal civil rights inquiry alleging that Houston’s previous affordable housing strategy resulted in concentrations of poverty.
