New Hope Housing Savoy to provide supportive housing in Sharpstown area
Sharpstown community of 120 apartment homes is the latest to break ground in the Harvey Multifamily Program
October 29, 2021 -- Mayor Sylvester Turner and community leaders joined a groundbreaking celebration for New Hope Housing Savoy located in Sharpstown. Well-known in Houston for creating affordable homes and wrap-around services, New Hope Housing Savoy will provide homes and on-site services to low-income residents. The development also will focus on preventing people from experiencing homelessness and provide accessible units for people with disabilities.
“We are working to address homelessness and provide affordable options for families of all abilities and at all income levels,” said Mayor Sylvester Turner. “Sharpstown is a densely populated area that will benefit from additional affordable housing for Houstonians.”
New Hope Housing Savoy includes 120 new apartments, all of which will be reserved for affordable housing for low-income residents. The community will include one, two, and three-bedroom apartments, providing options for individuals and larger families. Rents will range from $400 to $1,400, depending on income. In addition to providing stable housing, New Hope Housing Savoy will include on-site amenities to provide wrap-around services so that residents can work to find stable homes and build thriving futures. The free services will include case management, supportive services, education, recreation programs, and more.
The City of Houston will contribute $13.2 million towards creating New Hope Housing Savoy through the Harvey Multifamily Program. In addition to the City’s contribution, New Hope Housing Savoy will draw on tax credits granted by the Texas Department of Housing and Community Affairs (TDHCA) and $6.4 million in charitable contributions.
The Harvey Multifamily Program works to replace affordable homes lost during Hurricane Harvey and provide residents with homes less likely to flood in future storms. This program is funded by the U.S. Department of Housing and Urban Development and receives oversight from the Texas General Land Office. The program’s $450 million will support 38 developments and create over 4,300 new rental homes. To date, the program has four developments leasing and an additional 19 currently under construction. To learn more, please visit 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.
