Houston's 'Avenue Place' Sets the Affordable Housing Bar High

Ryan Holleywell writes about the fascinating example set by the Avenue Place affordable housing development in Houston.

"I came across the houses while searching online for a new home in Houston earlier this year. What immediately struck me was their price. The houses I saw online, less than 3 miles from downtown, were priced around $200,000 to $220,000," writes Holleywell.

The "decidedly modern" yet still "homey" houses far exceed preconceptions of what affordable housing can be. Yet, this housing is resolutely accessible to buyers who could not afford market rate. "Buyers earning less than 80 percent of the median income can get subsidies of up to $86,000. Those earning less than 120 percent of median income can get a $26,000 subsidy."

Those subsidies are guaranteed by the terms of a deal that made the development eligible for a city grant, according to an editorial in the Houston Chronicle at the time of the development's opening. Holleywell provides additional information on how the development was funded and constructed.