Avenue Community Development Corporation (Avenue CDC) is pleased to announce the closing of the financing for the construction of Avenue Terraces, 48 new mixed-income apartments at 4300 Irvington Boulevard in Houston’s Near Northside neighborhood. Construction financing is being provided by Capital One, N.A. and tax credit equity financing is being provided through the National Equity Fund. The Avenue Terraces apartments are scheduled to be completed and ready for occupancy in mid-2016.
Located just north of downtown Houston in the Near Northside community, Avenue Terraces is one of a many recent developments sponsored by Avenue CDC. The new development will be located adjacent to a 148-unit mixed-income apartment community, Avenue Terrace, completed in 2011, as well as a 95-single-family, affording housing development, Avenue Place, which is underway with 49 of the planned 95 homes now complete.
“We are very excited to break ground on the new Avenue Terraces apartments,” says Mary Lawler, Executive Director of Avenue CDC. “Currently, we have long waiting lists on many of our developments; Avenue Terraces will provide much-needed affordable housing in the Near Northside and will be a
welcome addition to the community.”
Avenue CDC is a non-profit organization dedicated to revitalizing communities and improving the quality of life for low-income residents. In the last 22 years, Avenue CDC has developed 133 single-family homes, 594 affordable rental units and 140,000 square feet of commercial space within the inner-loop, creating accessible, quality affordable city living for Houston residents.
For more information about Avenue CDC’s affordable housing and rental developments visit, https://www.www.avenuecdc.org/.
About Avenue CDC
Avenue CDC’s mission is to build affordable homes and strengthen communities. The organization enhances the quality of life of working families and works to promote Houston’s future as a world-class city of healthy, vibrant and economically diverse neighborhoods. Avenue CDC develops homes for purchase and rental as well as provides homebuyer education and counseling to help working families buy and maintain their own homes. They promote economic development and offer supportive services such as computer labs, after-school programs, and nutrition, fitness, and financial literacy classes that enrich the lives of the individuals and families they serve. Avenue CDC is a member of the nationwide NeighborWorks® Network of more than 245 community development organizations working in nearly 4,358 urban, suburban and rural communities across America. Connect with Avenue CDC on Facebook: http://bit.ly/FBAvenueCDC and Twitter: https://twitter.com/AvenueCDC.