Local Nonprofit Completes Final Phase of Nationally-Acclaimed Community of Affordable Homes

Local Nonprofit Completes Final Phase of Nationally-Acclaimed Community of Affordable Homes

Avenue Completes Construction on 95-Unit Avenue Place Subdivision, Announces Homes for Sale

HOUSTON – (June 5, 2019) – Local nonprofit affordable housing developer Avenue announced today the completion of the final phase of its award-winning Avenue Place subdivision, a 95-unit single-family community situated on a 12-acre parcel in Houston’s Near Northside.

Located just minutes from Downtown Houston, Avenue Place provides working families safe, quality affordable homes in the heart of the city’s urban core. The energy-efficient homes range from 1,322 to 1,821 square feet. Of the 95 homes in the subdivision, 53 are restricted to homeowners making 120 percent or less of the Area Median Income (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 qualifying income-eligible families earning 120 percent or less of the AMI.

“We are thrilled to have successfully reclaimed this former freight terminal site to create a vibrant community of quality affordable homes that meets the needs of Houston’s working families,” said Mary Lawler, executive director at Avenue. “Avenue Place is a shining example of what affordable housing in Houston can look like and how it can help improve communities and the quality of life for low and middle-income residents. As we continue to navigate Houston’s affordability crisis, it is important that we invest in projects like Avenue Place that increase the supply of affordable homes and allow families the opportunity to remain in their neighborhoods and achieve the dream of homeownership.”

Of the nine homes completed in the final phase of Avenue Place, one is still available for sale.

Last year, Avenue Place and the adjacent Avenue Terrace multifamily community were honored by the Urban Land Institute (ULI) Terwilliger Center for Housing as winners of the prestigious Jack Kemp Excellence in Affordable and Workforce Housing Award. The annual award is given to affordable and workforce housing communities that demonstrate outstanding achievements in a variety of areas, including innovative financing and building technologies, affordability, quality of design, proximity to employment centers and transportation hubs, involvement of public/private partnerships and replicability of the development, in addition to other criteria.

The Avenue Place community is 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.

In recent years, Avenue has constructed 900 affordable homes and apartments in Houston, many of which are located in the greater Northside community. Earlier this year, Avenue unveiled plans to develop Avenue Center, a new mixed-use community resource hub to be constructed across from Moody Park in Near Northside.

In addition to developing new affordable homes and rehabilitating existing affordable housing in Houston, Avenue also offers comprehensive homebuyer education classes that help first-time homebuyers, as well as current homeowners, navigate the path of homeownership. For more information on these programs and services, visit www.avenuecdc.org/homeownership.

 

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About Avenue

Avenue’s mission is to build affordable homes and strengthen communities. The organization enhances the quality of life of working families and works to promote healthy, vibrant and economically diverse neighborhoods that are essential to Houston’s future as a world-class city. Avenue develops homes for purchase and rent 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 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 on Facebook: http://bit.ly/FBAvenueCDC and Twitter: https://twitter.com/AvenueCDC.

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