Richmond city leaders and representatives from the Texas General Land Office helped celebrate the completion of an affordable rental housing complex on Thursday.
The Huntington, located at 2221 Richmond Parkway, is one of two multifamily housing complexes completed with state and federal disaster funds.
One of the complexes is located in El Campo.
Both replace affordable rental housing damaged or destroyed by Hurricane Harvey. The General Land Office awarded $1,350,167 to build El Campo Retirement, a 32-unit affordable rental complex dedicated for seniors, and awarded $17,600,000 to build Huntington at Richmond, a 141-unit multifamily community located across the street from Veranda.
The two multifamily rental projects were built or repaired using $18,950,167 in grant funds from the GLO disaster recovery assistance program.
Nearly 76% of all units are guaranteed for low-to moderate-income residents. Some of the smaller units at The Huntington can be leased for $451 per month. Most of the affordable housing units have already been leased, the property manager told The Herald.
“We are 30% occupied and 80% leased,” she explained. “They went like hot cakes.”
Dignitaries attending the ribbon cutting included Fort Bend County Judge KP George, Richmond Mayor Becky Haas and Richmond commissioners Barry Beard and Carl Drozd and a representative from Precinct 4 County Commissioner Ken DeMerchant’s office and U.S. Rep. Troy Nehls’ office.
George said the affordable housing is greatly needed in Fort Bend County.
Although Fort Bend County is considered one of the more affluent counties in the state, it still has many citizens who struggle to pay rent or mortgage, he said.
Mayor Haas said many residents in Richmond could take advantage of the low leasing cost.
“The Texas General Land Office has undertaken very impressive efforts using $588 million in Community Development Block Grant for Disaster Recovery funds from the U.S. Department of Housing and Urban Development funds to help rehabilitate, reconstruct and construct 82 multifamily rental housing damaged or destroyed by Hurricane Harvey in 48 eligible counties outside of the city of Houston and Harris County, which requested and were granted direct allocations of funds from HUD to conduct housing programs,” said Brittany Eck with the Land Office.
“In total, 5,989 rental homes are being rebuilt or newly constructed to replenish affordable workforce housing. Of the multifamily affordable housing units being rebuilt by the GLO, nearly 80% are guaranteed to house low to moderate-income residents for 20 years after completion of new construction and 15 years after completion of repairs.”
In this program, applicants for the funding are required to designate at least 51% of the units for low- to moderate-income families with rents capped at the U.S. Department of Housing and Urban Development’s Home Investment Partnership limits.
Per HUD guidelines, a family is considered low- to moderate-income if they earn 80% or less than the Area Median Family Income.
Each apartment complex will be restricted for low income housing for 20 years after completion of new construction and 15 years after completion of repairs.
The Huntington at Richmond has numerous floor plans, including The Dahlia, a one-bedroom one-bath apartment with 755 square feet; the Orchid, a one-bedroom, one-bath apartment with 921 square feet; the Cassandra Rose, a two-bedroom, one-bath apartment with 866 square feet; and the French Rose, a two-bedroom, two-bath apartment with 1,188 square feet.
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