There’s no shortage of residential construction projects underway in Houston, but local officials are concerned that many of the city’s newest housing units are prohibitively expensive for working families. In an effort to bridge the growing divide between luxury condominiums and subsidized housing, the Houston City Council recently announced that it has approved a new home construction program that will add modern, affordable single-family homes to the city’s housing inventory.
Earlier this month, the council signed a $6.7 million agreement with a dozen local homebuilders and the Houston Land Bank, which owns the properties where the new homes will be constructed. This funding was provided by the annual block grants Houston receives from the U.S. Department of Housing and Urban Development. Although these funds are typically dedicated to repairs and rehabilitation, they were reallocated toward new home construction in 2017 following Hurricane Harvey.
Houston’s Housing and Community Development Director Tom McCasland hopes that this program will offer working-class families a better variety of affordable housing options to choose from. Even with the help of city down payment assistance, McCasland points out that many of the homes that are currently available to these individuals are older and not in good enough shape to pass HUD-mandated inspections. The City Council has not yet announced how many homes it expects to build with the initial $6.7 million, but officials seem optimistic about the program’s potential to improve affordable housing availability in Houston.
Meanwhile, with job growth on the rise and hurricane recovery efforts continuing to progress throughout the city, the future is looking bright here in Houston. Stay tuned for more updates from your source for ground engaging tools, custom excavator solutions and more—Texas Contractors Equipment Inc.