More than $60 million was awarded to private developers in early August through the 2014 Housing Tax Credit Program, including funding for a multifamily project in Cypress called The Lodge at Huffmeister.
The housing program, which began in 1986, uses private investments to fund the construction of affordable rental housing units that are privately owned and maintained, said Gordon Anderson, spokesman for the Texas Department of Housing and Community Affairs.
Over the years, the program has shifted its focus on where the developments are located, moving from primarily economically disadvantaged areas to communities like Cy-Fair with higher-performing schools and additional employment opportunities, Anderson said.
"We want to ensure we are not crowding all the properties into high poverty areas; we want to spread them out," he said. "Our goal is to not only spread these properties around equitably in a community but give the tenants opportunities to access resources they might not have otherwise."
This shift is one reason Blazer Residential proposed its Lodge at Huffmeister project, said Nathan Kelley, director of capital markets and asset management. The proposed complex would be located across Huffmeister Road from Millsap Elementary.
"Cypress has great schools, higher than average median incomes, and it's along Hwy. 290, which is a big growth corridor for Houston," Kelley said. "We see a considerable amount of demand for not only the type of housing that exists there today and is being built on the upper end of the income spectrum, but also the need for housing for people serving as teacher aides, nurses, technicians or retail staff who don't have a nest egg yet to put a down payment on a house."
However, not everyone in the community is pleased with the project. Several months ago, Ravensway resident Karolyne Allwin said she started an online petition against the project—which garnered more than 2,000 signatures—after reading about it on Facebook. She said many residents are concerned about the project because it could create additional traffic in the area, overcrowding at local schools and possibly increased crime.
"We're not saying all low-income housing is bad, but it's about bringing too much to an area," Allwin said. "We already have several within a two-mile radius of our neighborhood. You can't always run away from your problems, but when there are so many complexes within a two-mile radius, you need to spread it out more."
Allwin said even if she and her neighbors cannot stop the Lodge at Huffmeister, she still plans to try and stop similar projects near her neighborhood in the future.
The Lodge at Huffmeister will be built in two phases, the first of which will include 142 affordable and 28 market rate housing units followed by 183 market rate senior living units. Each phase will feature one-and two-bedroom apartment units with Class A finishes and amenities, such as a resort-style pool, fitness center, theater room, business center and community room.
Blazer Residential has developed more than 20 similar multifamily properties, Kelley said.
"We always invest in our properties on the front end, but continue to invest year after year to stand head and shoulders above the rest," he said.
Rents for the affordable units at the Lodge at Huffmeister are based on a derivative of 30, 50 or 60 percent of the area's median annual income, which is $66,600 for the Greater Houston area. For example, one person could qualify for a unit at 50 percent of the AMAI by making no more than $23,350 annually.
Residents in nearly 130 of the units will need to qualify for 50 and 60 percent of the AMAI as only 15 units will be at the 30 percent level. Rent for the market rate units ranges from $800–$1,500. The next step for the Lodge at Huffmeister involves finalizing design plans. If approved, it would be about six months before Blazer Residential can break ground on the project.