Urbannizer Posted August 1, 2019 Share Posted August 1, 2019 https://www.virtualbx.com/construction-preview/houston-housing-authority-partners-with-california-developer-on-two-multifamily-projects/ Quote The Houston Housing Authority has partnered with the Texas division of AMCAL Multi-Housing Inc.–a housing developer based in Agoura Hills, California–to construct two rent-controlled apartment complexes. The HHA Board of Commissioners at their July 16 session approved two resolutions with AMTEX Multi-Housing LLC. Resolution No. 3061 authorizes the housing authority’s president and chief executive officer to execute a Memorandum of Understanding to form a housing development partnership. Under this resolution, AMTEX proposes to build a new affordable apartment property with 370 units. This resolution was first presented to the Board for consideration at the June session, but it was tabled at the request of a commissioner who wanted more time to discuss the project with AMCAL’s project manager, David Wolf. “The proposed Midtowndevelopment is located in a federally designated Opportunity Zone (established by the Tax Cuts and Jobs Act of 2017), as well as a tax increment reinvestment zone (TIRZ),” the resolution states. These government designations provide financing advantages that make it possible to offer apartments at lower cost. The MOU will ensure that 185 units will go to families earning 80% of the area median income. Of the 185 units, 140 will be one-bedroom units and 45 will be two-bedroom units. All of the remaining units will be leased at market rates. However, two units will be set aside as living quarters for onsite management. Neither resolution gave details on an exact location.[.quote] 7 Quote Link to comment Share on other sites More sharing options...
HNathoo Posted August 1, 2019 Share Posted August 1, 2019 I'd be interested to see if this is actually in midtown. This group tried to purchase a surface parking lot at the corner of W Dallas and I-45, so it's possible their development might be north of what we all consider midtown. 1 Quote Link to comment Share on other sites More sharing options...
BeerNut Posted August 1, 2019 Share Posted August 1, 2019 I'm thinking it will be somewhere in Third Ward. 1 Quote Link to comment Share on other sites More sharing options...
wilcal Posted August 1, 2019 Share Posted August 1, 2019 1 hour ago, HNathoo said: I'd be interested to see if this is actually in midtown. This group tried to purchase a surface parking lot at the corner of W Dallas and I-45, so it's possible their development might be north of what we all consider midtown. That release says that it's within a TIRZ, but now within what TIRZ I guess is the question. I looked up the boundaries of the Midtown TIRZ, and it's pretty close to what we'd define as 'Midtown' http://www.houstontx.gov/ecodev/tirzmaps/maps/tirz_2.pdf Here are the boundaries of the TIRZ in the area: I know that Midtown TIRZ has been buying up properties in the 2nd/3rd wards with the idea to develop them into affordable housing (they have to spend some portion of their budget on affordable housing), so who really knows. 2 Quote Link to comment Share on other sites More sharing options...
skooljunkie Posted August 1, 2019 Share Posted August 1, 2019 Per the release, It would also have to be in an opportunity zone—so east of Main. 2 Quote Link to comment Share on other sites More sharing options...
Luminare Posted August 1, 2019 Share Posted August 1, 2019 Good hypothetical spot I think would be here: Close to the lightrail, several major bus routes that give great access to other areas, close to a few parks, close to HCC, and about a 5-7min walk to the new Whole Foods. I'm sure there are other good locations, but this is on block that stuck out immediately to me. It checks all the boxes in my book. 2 Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted August 1, 2019 Share Posted August 1, 2019 2403 Caroline St, maybe? There was talk of a Mark Dana-driven affordable housing project there. The lot's now listed on the market, and is within a couple blocks of the light rail at McGowen station. 2 Quote Link to comment Share on other sites More sharing options...
Popular Post MarathonMan Posted December 11, 2019 Popular Post Share Posted December 11, 2019 NE corner of Fannin and McGowen — former site of Search Homeless Services. 10 1 Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted December 11, 2019 Share Posted December 11, 2019 57 minutes ago, MarathonMan said: NE corner of Fannin and McGowen — former site of Search Homeless Services. Is SEARCH moving away? 2 Quote Link to comment Share on other sites More sharing options...
MarathonMan Posted December 11, 2019 Share Posted December 11, 2019 (edited) 30 minutes ago, houstontexasjack said: Is SEARCH moving away? They relocated to Eado a while ago. They’re at the block bounded by St. Emanuel/Franklin/Chartres/Congress. Interesting choice of relocation, since I think that’s one of the blocks that gets blown out with the I-45 relocation project, should it actually happen. Edited December 11, 2019 by MarathonMan 4 Quote Link to comment Share on other sites More sharing options...
dbigtex56 Posted December 11, 2019 Share Posted December 11, 2019 AMCAL Housing website. 3 Quote Link to comment Share on other sites More sharing options...
Popular Post Urbannizer Posted December 14, 2019 Author Popular Post Share Posted December 14, 2019 Midtown is going wild. 30-story residnetial high-rise with ~10,000 sq feet of retail (former SEARCH Homeless Services site). 25 8 Quote Link to comment Share on other sites More sharing options...
TheSirDingle Posted December 14, 2019 Share Posted December 14, 2019 Wow, didn't expect this. 5 Quote Link to comment Share on other sites More sharing options...
Twinsanity02 Posted December 14, 2019 Share Posted December 14, 2019 1 hour ago, Urbannizer said: Midtown is going wild. 30-story residnetial high-rise with ~10,000 sq feet of retail (former SEARCH Homeless Services site). Is this for real? There are so many high rises going up it's getting a bit surreal. 7 Quote Link to comment Share on other sites More sharing options...
West Timer Posted December 14, 2019 Share Posted December 14, 2019 Wow. 8 Quote Link to comment Share on other sites More sharing options...
MarathonMan Posted December 14, 2019 Share Posted December 14, 2019 This looks beautiful! Not what I would expect to see as an “affordable” housing project. 6 Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted December 14, 2019 Share Posted December 14, 2019 2 hours ago, Urbannizer said: Midtown is going wild. 30-story residnetial high-rise with ~10,000 sq feet of retail (former SEARCH Homeless Services site). I work at Caroline and McGowen, don’t play with my heart @Urbannizer. 6 Quote Link to comment Share on other sites More sharing options...
Twinsanity02 Posted December 14, 2019 Share Posted December 14, 2019 This isn't part of the Australian developers planned high rises is it? 3 Quote Link to comment Share on other sites More sharing options...
TheSirDingle Posted December 14, 2019 Share Posted December 14, 2019 (edited) 5 minutes ago, Twinsanity02 said: This isn't part of the Australian developers planned high rises is it? Yes it's a completely separate development, but it's rather close to it though. Going to be so many cranes if they both go up around the same time. Edited December 14, 2019 by TheSirDingle 7 Quote Link to comment Share on other sites More sharing options...
HNathoo Posted December 15, 2019 Share Posted December 15, 2019 I have no clue how this works. An affordable high rise? What would the capital stack look like on a $400k/unit development? 2 Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted December 15, 2019 Share Posted December 15, 2019 2 hours ago, HNathoo said: I have no clue how this works. An affordable high rise? What would the capital stack look like on a $400k/unit development? Amcal also does some “market rate” housing. Maybe a mix of market rate and affordable units here? 4 Quote Link to comment Share on other sites More sharing options...
wxman Posted December 15, 2019 Share Posted December 15, 2019 Wow! Like....wow. 9 Quote Link to comment Share on other sites More sharing options...
Popular Post Twinsanity02 Posted December 15, 2019 Popular Post Share Posted December 15, 2019 This is going to be approximately one block from Laneways Midtown, the development by Caydon. It really is stunning to think of three Caydon highrises, plus 3300 Main, plus AMCAL, plus a few blocks away, 514 Elgin. All this l happening in such a short time span. 11 Quote Link to comment Share on other sites More sharing options...
zaphod Posted December 15, 2019 Share Posted December 15, 2019 I hate to be that guy, and to be clear I'm not opposed to public owned affordable housing development, but... Isn't it really expensive to build high rise apartment units compared to other forms of housing? Especially buildings like this, it appears to be far more high end than a standard midrise block or concrete slab tower. What kind of factors or variables lead to the decision to put public housing resources into mixed income high rises in one of the ritziest areas of town? If I was in charge I think I would strategically buy up land that's currently occupied by noxious, trash land uses that hurt surrounding communities, like junkyards and concrete plants around Acres Homes and the Northside. Then I would plow all that under and build tidy looking houses and small apartments there, with trees and stuff. The land must be very cheap, and so would the construction methods for that kind of housing. And instead of it all being apartments, I would mix in some housing to sell to specially qualified persons. Create a real neighborhood. 6 Quote Link to comment Share on other sites More sharing options...
Popular Post Purdueenginerd Posted December 15, 2019 Popular Post Share Posted December 15, 2019 2 hours ago, zaphod said: I hate to be that guy, and to be clear I'm not opposed to public owned affordable housing development, but... Isn't it really expensive to build high rise apartment units compared to other forms of housing? Especially buildings like this, it appears to be far more high end than a standard midrise block or concrete slab tower. What kind of factors or variables lead to the decision to put public housing resources into mixed income high rises in one of the ritziest areas of town? If I was in charge I think I would strategically buy up land that's currently occupied by noxious, trash land uses that hurt surrounding communities, like junkyards and concrete plants around Acres Homes and the Northside. Then I would plow all that under and build tidy looking houses and small apartments there, with trees and stuff. The land must be very cheap, and so would the construction methods for that kind of housing. And instead of it all being apartments, I would mix in some housing to sell to specially qualified persons. Create a real neighborhood. Keep in mind that some affordable housing developments are merely that because they set aside a certain number of units for lower income residents, instead of concentrating poverty into one large tower. I pretty much categorically oppose your proposal that the poor should be relegated to trash land, like junkyards and concrete plants. Land, even in midtown, is relatively cheap and is a good spot for middle, lower, and upper classes to co-mingle and go to work together. As for the costs associate with building a high rise. Yes its typically more expensive than a low rise building, BUT, it uses less land to create the same number of units, which also has costs associated with it. 14 Quote Link to comment Share on other sites More sharing options...
Popular Post HNathoo Posted December 15, 2019 Popular Post Share Posted December 15, 2019 There is a scoring system for affordable housing credits. The closer the projects are to public transportation, jobs, grocery stores, and schools, the better it will score. These credits can sometimes offset the cost of land, which would probably justify this location. However, even market rate guys are having a very difficult time penciling out high-rise development. There are some well capitalized players that have very long-term views (or long term equity partners) that are doing it, but the returns have been abysmal thus far. These guys are in it for the long haul though, so they can absorb sub optimal returns for the first few years. 13 2 Quote Link to comment Share on other sites More sharing options...
cloud713 Posted December 15, 2019 Share Posted December 15, 2019 Wow, that looks nice.. Hopefully this gets going within the next year. 5 Quote Link to comment Share on other sites More sharing options...
zaphod Posted December 16, 2019 Share Posted December 16, 2019 7 hours ago, Purdueenginerd said: I pretty much categorically oppose your proposal that the poor should be relegated to trash land, like junkyards and concrete plants. Land, even in midtown, is relatively cheap and is a good spot for middle, lower, and upper classes to co-mingle and go to work together. As for the costs associate with building a high rise. Yes its typically more expensive than a low rise building, BUT, it uses less land to create the same number of units, which also has costs associated with it. I never suggested that we would house the poor next to junkyards and concrete plants. Instead I am suggesting that we buy the land from under the junkyards and ready mix plants and tear them all down. So those things would be gone(their owners would presumably take the city's offer and move to Crosby)Then replace them with affordable housing development. This kills two birds with one stone - it removes blight AND it adds affordable housing. 3 Quote Link to comment Share on other sites More sharing options...
wxman Posted December 16, 2019 Share Posted December 16, 2019 If you go back and read the OP from August 1st, you'll see that what my idea of affordable housing (and your idea maybe) is not correct. I think 'affordable housing' units as being soviet style building blocks or some ghetto ass, run down stick apartment building -- or maybe something as 'nice' as the complex just outside of downtown on Allen Parkway, across from the Fed Reserve. But in the OP, 'affordable' units will go to those who make 80% of the median income of that area. Of the 387 units in the building, 185 units will be 'affordable' while the rest will go for market value. Two units will be set aside for on-site management. Quote Link to comment Share on other sites More sharing options...
Ross Posted December 16, 2019 Share Posted December 16, 2019 20 hours ago, zaphod said: I hate to be that guy, and to be clear I'm not opposed to public owned affordable housing development, but... Isn't it really expensive to build high rise apartment units compared to other forms of housing? Especially buildings like this, it appears to be far more high end than a standard midrise block or concrete slab tower. What kind of factors or variables lead to the decision to put public housing resources into mixed income high rises in one of the ritziest areas of town? If I was in charge I think I would strategically buy up land that's currently occupied by noxious, trash land uses that hurt surrounding communities, like junkyards and concrete plants around Acres Homes and the Northside. Then I would plow all that under and build tidy looking houses and small apartments there, with trees and stuff. The land must be very cheap, and so would the construction methods for that kind of housing. And instead of it all being apartments, I would mix in some housing to sell to specially qualified persons. Create a real neighborhood. That land isn't as cheap as you think, and many times isn't for sale. Readymix plants can't locate in Crosby if the bulk of the sales are in Houston, as the concrete will set before it arrives at the destination. 2 Quote Link to comment Share on other sites More sharing options...
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