HOUSTON – (By Dale King, Realty News Report) – The federal government has allocated $12 million in disaster relief funds to help a historic section of Houston rebuild after the destruction caused by Hurricane Harvey two years ago.
The NHP Foundation (NHPF), a national nonprofit organization that provides affordable housing, announced it has received these funds to replace housing lost in the storm, according to Tom McCasland, director of Housing and Community Development for the city of Houston.
Houston’s Department of Housing and Community Development administered the disaster relief funding for NHPF’s proposal to construct new rental units and supporting buildings. The project is a partnership with Change Happens CDC in Houston’s Third Ward.
The Third Ward is a historic neighborhood located southeast of downtown Houston and east of the Texas Medical Center.
The development plans include 73 studio and one-bedroom rental units, along with a small theater, retail space, health provider space, recreational amenities and a fitness center on property at Elgin and Tierwester streets.
Change Happens CDC purchased the land as part of a long-standing effort to address blight and revitalize the neighborhood. Rev. Leslie Smith II, founder and CEO of Change Happens CDC, said the organization has been buying and demolishing dilapidated and drug-affected properties for decades.
Rev. Smith emphasized that “gentrification is sweeping through the Third Ward, displacing generations of African American families. By acting now in partnership with the NHP Foundation, we can provide affordable housing to help prevent that displacement.”
A recent Kinder Foundation study found that 1,400 households in the historic Third Ward earning less than 80% of the area’s median income face the risk of displacement in coming years. NHPF, together with Change Happens CDC and Trinity East Village CDC, aims to build 700 of those 1,400 units.
“This senior community is the first phase of that broader vision,” said Pastor Marilyn White of Trinity East United Methodist Church. “This partnership moved quickly to make much-needed housing a reality.”
Houston Mayor Sylvester Turner has designated the historic Third Ward as a “Complete Community,” a priority area for revitalization.
“This project is another important milestone in Houston’s efforts to create and preserve affordable housing,” Mayor Turner said. “Through partnerships with the city, Change Happens CDC and Trinity East United Methodist CDC, NHPF is helping preserve the diversity, character and affordability of the Third Ward, advancing our goal to make this historically underserved neighborhood a true ‘Complete Community.’”
“We appreciate the mayor’s focus on the historic Third Ward,” Rev. Smith added. “We also value the assistance from our state representative, Garnet Coleman, who helped secure tax credits.”
“The federal funds provided through HUD have allowed us to concentrate crucial resources inside the city,” said Ray Miller, commercial and public facilities assistant director for the city of Houston. “This investment helps preserve affordability as well as the cultural identity of our historic neighborhoods.”
In addition to disaster relief funds, the project will be financed using 4% and low-income housing tax credits and tax-exempt bonds, planners said.
“Supporting low-income Houstonians is central to our mission, especially in a neighborhood facing increasing market pressures where displacement was a real threat,” said Neal Drobenare, senior vice president of NHPF. “We are grateful the city’s Disaster Relief fund recognized the project’s importance.”
This development is part of NHPF’s Affiliate Program, which collaborates with local groups, including faith-based organizations, to provide development expertise, financing, asset management, resident services and fundraising support.
Headquartered in New York City with offices in Washington, D.C. and Chicago, the NHP Foundation is celebrating its thirtieth year as a publicly supported 501(c)(3) real estate corporation. The nonprofit focuses on creating and preserving sustainable, service-enriched multifamily housing that is affordable to low- and moderate-income families and seniors and that benefits surrounding communities.
Founded in 2003, Change Happens CDC remains committed to rehabilitating distressed homes across Third Ward neighborhoods and addressing long-standing housing needs.
Aug. 8, 2019 Realty News Report Copyright 2019
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