Houston City Council Approves Development of Affordable Workforce Homes in Greenspoint Area
Summit at Renaissance Park provides 325 new, resilient homes for residents to help welcome development of Greenspoint
July 20, 2021 -- HOUSTON – Houston City Council has approved $14.9 million for the development of Summit at Renaissance Park, the largest new construction of affordable apartment homes funded through the Hurricane Harvey Multifamily Program. Greenspoint was particularly hard-hit by Hurricane Harvey, and the creation of new affordable apartment homes will provide alternatives to the homes lost during the storm. In addition, Greenspoint is expected to attract private-sector investments to create new working-class jobs, green spaces, and skill-building centers; these homes will provide access to jobs and retail arriving nearby, as well as public transportation to other Houston areas.
“This development is about moving forward and creating equity, particularly for those who lost so much to Hurricane Harvey,” said Mayor Sylvester Turner. “Offering homes safe from repetitive flooding is key to providing the stable home life that is needed to ensure a prosperous future for our next generation of leaders.”
Developer AHG Properties will oversee the creation of 325 apartment homes at the Greenspoint site. These apartments, which range from one- to four-bedroom units, will set monthly rents based on income and household size. For example, a family of four with income of $39,600 per year would pay $784 each month for a two-bedroom apartment. The development proposal includes on-site access to training, classes and other services to expand economic opportunity. Offering apartments with up to four bedrooms, the development is ideal for residents who wish to remain in Greenspoint and need homes that can protect their families and provide opportunity.
“Summit at Renaissance Park is a perfect example of a development that meets the needs of a community that was hit hard by Hurricane Harvey, by allowing families to remain in their neighborhood,” explains the director of Housing and Community Development Department (HCD), Tom McCasland. “It is located on the highest ground in Greenspoint, close to public transit, and in an area expected to attract retail and job opportunities in years to come.”
The City of Houston’s $14.9 million contribution to Summit at Renaissance Park will be leveraged with private funding and an allocation of state-managed tax credits for a total project cost of approximately $76.7 million. Summit at Renaissance Park will be the single largest development of affordable homes funded through the Hurricane Harvey Multifamily Program, which has another 21 developments approved so far. These funds are provided by the U.S. Department of Housing and Urban Development (HUD) and overseen by the Texas General Land Office (GLO).
All developers using Hurricane Harvey Multifamily funds are required to provide robust workforce protections and add environmentally resilient features, ensuring that Summit at Renaissance Park will benefit residents from the moment of groundbreaking well past the end of construction. To learn more about these requirements and the communities built through the Harvey Multifamily Program, please refer to recovery.houstontx.gov/multifamily .
The City of Houston Housing and Community Development (HCD) makes long-term investments to better the lives of Houston residents by creating opportunities for every Houstonian to have a home they can afford in a community where they can thrive. Our department will spend approximately $450 million in federal, state, and local funding this fiscal year to construct and maintain affordable homes, reduce barriers to homeownership, support the work of social service providers, build public amenities, and facilitate disaster recovery efforts. Learn more about programs and resources for Houstonians at www.houstontx.gov/housing.
