City officials gather to celebrate the grand opening of South Rice Apartments City of Houston continues to add to its affordable housing inventory

May 20, 2022 -- Houston, Texas -- “The South Rice Apartments, 5612 South Rice Avenue, celebrated its grand opening Thursday, bringing 115 new multifamily units to Gulfton, the densest and most diverse neighborhood in Houston.”

Located in the Gulfton Complete Community, South Rice Apartments provide a mix of one-, two-, and three-bedroom units serving individuals and families at or below 80% of the Area Median Income with 86 of the units designated as affordable.

“We are excited that the mayor’s vision of adding 7,000 multifamily units to our affordable homes inventory is coming to fruition,” said Director Keith Bynam, City of Houston Housing and Community Development department. “As rental prices in Houston continue to skyrocket, we must ensure every Houstonian has a safe, quality, affordable place to call home.”

“Even as the pandemic was ramping up when construction for South Rice Apartments began, it did not stop us from moving forward,” said Mayor Sylvester Turner. “The area where this complex is located is vulnerable to the lack of affordable housing, and we are proud that new, high-quality homes are available to Gulfton residents.”

Construction on South Rice Apartments was fully completed in December 2021 and will be fully occupied later this month.

The community is near The Galleria and the city of Bellaire, areas robust with essential public amenities, commerce, strong school ratings, and low poverty concentrations. South Rice Apartments is a prime location for a thriving community – just a few blocks from shopping, parks, libraries, and public transit.

The city proudly contributed $12.4 million dollars of Community Development Block Grant Disaster Relief (CDBG-DR17) funds toward the $33 million cost of the construction for this community.

The City of Houston partnered with Brownstone Affordable Housing Ltd. to develop the South Rice Apartments. Brownstone Affordable Housing, Ltd. has over a decade of experience in multifamily development utilizing tax-credit, CDBG-DR, HOME, and conventional loan financing. Brownstone has completed 58 multifamily developments consisting of over 7,000 rental units.

The City of Houston Housing and Community Development (HCD) department makes long-term investments to improve 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 invest approximately $450 million in federal, state, and local funds 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 http://houstontx.gov/housing