Avenue Wins National Affordable & Workforce Housing Award

We are excited to announce that Avenue has been selected as one of five winners chosen for the 2018 Jack Kemp Excellence in Affordable and Workforce Housing Award given by the Urban Land Institute (ULI) Terwilliger Center for Housing. This National award honors exemplary developments that preserve affordability for people at multiple income levels, specifically households earning less than 120 percent of the area median income (AMI). The award recipients were announced at ULI's Fall General Session in Boston this week, and Board Member Jamie Bryant was on site to represent for Avenue.

Avenue has been recognized for two of our affordable communities – Avenue Place and Avenue Terrace – both located in Houston’s historic Near Northside community.

“We are honored to be recognized by ULI for our work to preserve affordability in our communities. Although Houston has developed a reputation as one of the more affordable major metros in the country, Houstonians continue to face escalating housing costs that are compromising affordability for low and moderate-income families,” said Mary Lawler, executive director at Avenue. “As we continue to navigate our city’s ongoing affordability crisis, it is critical that we invest in housing solutions like Avenue Place and Avenue Terrace that are not just affordable, but also enhance residents’ quality of life and allow families to grow and thrive.”

Located just minutes from Downtown Houston, Avenue Place and Avenue Terrace provide working families safe, quality affordable homes in the heart of the city’s urban core. At Avenue Place, 49 of the 85 homes currently constructed are restricted to homeowners making 120 percent or less of the Area Median Income (AMI), while 162 of Avenue Terrace’s 192 units are restricted to renters making 80 percent or less of the AMI. Low and moderate-income homebuyers at Avenue Place may also be eligible to receive Down Payment Assistance (DPA) through Avenue, which is available to income-eligible families earning 120 percent or less of the AMI.

In addition to affordable living, Avenue Place and Avenue Terrace also offer residents access to a variety of on-site support services, including after-school programs and community enrichment initiatives. The communities are also situated in close proximity to several neighborhood landmarks including the community park and walking trails at Avenue Place, M.D. Anderson YMCA, Carnegie Library, Irvington Park, Moody Park and Recreation Center, and the METRO North Corridor rail line, which connects the Greater Northside community with key districts including Downtown Houston, the Museum District and Texas Medical Center.

When Avenue was named as a finalist earlier this year, Terwilliger Center Founder and Chairman J. Ronald Terwilliger highlighted the significant role that affordable development plays in strengthening communities and emphasized the benefits that these developments offer the surrounding neighborhood.

“Through the Kemp Award, we are raising awareness of the critical role that affordable housing plays in creating successful communities,” Terwilliger said. “These are the types of real estate projects that are often the hardest to pull together, but at the same time, the most inspiring to complete. The finalists for this year’s award demonstrate that affordable and workforce housing is achievable in a wide range of markets, providing economic and social benefits that extend far beyond the developments.”

Click HERE to view and download the full press release.

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