HOUSTON (Houston Business Journal) – Ten developers that are constructing or rehabilitating affordable apartments in the Houston area are set to collectively receive $14.6 million in incentives from the Texas Department of Housing and Community Affairs.
The developers will receive tax credits in exchange for charging lower rental rates on a portion of a property’s units so they are affordable for low-income individuals and families.
The following developments are the local recipients of this year’s tax credit program:
- Cypress Creek at Fayridge ($2 million for 148 affordable units)
- Cypress Gardens ($1.4 million for 100 affordable units for seniors)
- Golden Bamboo Village III ($1.6 million for 130 affordable units for seniors)
- Mason Senior Homes ($1.5 million for 120 affordable units)
- Perry Street Apartments ($921,000 for 160 affordable units)
- Parkway Ranch II ($963,000 for 44 affordable units)
- Tarrington Court Apartments ($2 million for 153 affordable units for seniors)
- Travis Street Plaza ($1.4 million for 192 affordable units)
- Zion Gardens ($954,000 for 70 affordable units)
- Tuscany Place ($2 million for 152 affordable units in Kingwood)