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Houston staff recommend forgiving city loan on Elder Street Apartments while state affordability remains
Summary
Housing staff described a proposal to forgive the remaining city loan and the city affordability period for Elder Street Apartments, a 34‑unit adaptive‑reuse project in First Ward; state affordability restrictions from TDHCA would remain in place.
Ryan Bibbs, assistant director for multifamily housing, briefed the Housing and Affordability Committee on Oct. 21 on Elder Street Apartments, a 34‑unit affordable project at 1101 Elder Street in First Ward that converted the former Jefferson Davis Hospital into housing.
Bibbs said the developer, Avenue CDC, received $500,000 in city tourist funding in 2005 and…
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