AMTEX broke ground on its second development in Houston on November 14, 2019. AMTEX Green Oaks Affordable Multifamily Housing Development is a 177-Unit Apartment Complex located in Northeast Houston.
The Green Oaks Apartments Development is designed to close the substantial shortage of affordable housing units in Houston. According to the Houston Housing Authority, “Recent Census data indicates that over 400,000 households in Houston qualify for housing assistance at 80% of the Area Median Income (AMI), additionally there are 155,582 families currently living in poverty. More than 200,000 families in Houston pay greater than 30% of their income for housing. The existing housing stock only provides affordable opportunities for 76,725 families in Houston. This sheds light on the extent of the need for affordable housing for all families at all income ranges below 80% of AMI. The Houston Housing Authority aims to increase the number of affordable housing units available for qualified residents within its jurisdiction.”
The City of Houston Housing and Community Development Department awarded AMTEX’s Green Oaks Apartment Development the competitive four percent Housing Tax Credits. The Green Oaks Development received unanimous support from the City of Houston Mayor and City Council, led by City Council District B Council Member Jerry Davis. The project also received overwhelming support from Harris County Commission Precinct One, The Honorable Thompson, TX House of Representatives, Dist. 141, area Neighborhood Home-Owner Associations, Business Chambers and the surrounding northeast Houston community. The Green Oaks Apartment Development is in Northeast Houston on Gears Road, Greens Parkway, and Greensmark Drive, Houston, Harris County, Texas. In addition to providing housing for the target population, AMTEX is committed to providing economic development opportunities for minority and women-owned businesses, HUD Section 3 Businesses, and training and employment opportunities for Section 3 residents.
See this link for an article in the Houston Chronicle about the groundbreaking ceremony for Green Oaks. AMTEX’s other development in Houston is the Villages at Cypress, a 162-unit development for seniors that was completed in 2014.
This article originally appeared in the Houston Chronicle. Visit that news website to see the article.