- Frank Liu Planning Affordable Housing Development in EaDo [HBJ ($)]
- GYS Development Developing Self Storage Facility in Fulshear [Realty News Report]
- Japanese Restaurant Izakaya Wa Expanding to River Oaks Shopping Center Next Year [HBJ]
- ‘Mom-and-Pop’-Style Marq’e Coffee & Donuts Opens at 7613 Katy Freeway [Eater Houston]
- Edible Cookie Dough Shop Dough Life Opens in Friendswood [Eater Houston]
- Making the Rounds with Harris County Public Health in the Aldine Area a Year After Harvey [Houston Chronicle]
- Menil Collection Reopens Sept. 22 After an 8-Month Facelift [Houston Chronicle ($)]
Photo of GreenStreet: Bill Barfield via Swamplot Flickr Pool
Headlines
Re: Affordable Housing Development
“…. the city will buy about 19 homes once built for $245,000, and sell them for at least $150,000 for people who earn less than 120 percent of the area median income.” When did Houston start giving cash cows to people who will most likely flip them to make a little extra money? Stop this madness.
@city cynic- sadly I agree. Know someone with bad credit, over $100k of student debt and probably $50k annual salary. They are looking to buy one of these homes to flip and repeat. They said will qualify because of their income and poor credit.
@city cynic
Did you get in behind the HBJ paywall? I’m just curious where exactly these homes are/will be located.
.
The one area I’m thinking (that I know is being developed by InTown/Lovett) is over on Sampson and York near Harrisburg, but that’s Second Ward, not EaDo.
No, I refuse to pay for money walls although I did wander over to the city housing website. The quoted “letter” cannot be found, but a generic notice is found. These properties appear to be part of a grant program using taxpayer money to buy down the construction cost (i.e. using taxpayer money to enrich the builder while giving a ‘select’ person a piggy bank they can use or abuse, sometimes see, as a legal way of buying votes or rewarding political friends).
Donald (not that one) – I’m curious about the location too. I know Mr. Liu owns the swath (Clinton/Hare/Bringhurst) just north of the Midway “East River” future development, but my guess was that based on Midway’s previous developments, it would be higher-end. Maybe they get a tax break if a certain amount of “affordable” is mixed in with everything else? Just guessing . . . I have no idea.