Houston Area Community Development Corporation

HACDC, in concert with New Hope Housing, operates a continuous development cycle where we have 2 to 3 projects in varying stages of development at any given time. We operate to the standards of the for-profit multifamily industry, and our real estate development model is a testament to that work.NHH at Sakowitz - 166 units To facilitate the development of NHH at Sakowitz, the City of Houston made a performance based grant to Houston Area Community Development Corporation, who, in turn, loaned the funds to Sakowitz SRO, Ltd. The development also includes financing from Housing Tax Credits, allocated by the Texas Department of Housing and Community Affairs, and funds from the City of Houston, as well as private charitable contributors, including the Houston Endowment Inc., The Brown Foundation, The Fondren Foundation, and other foundations and corporations.Sakowitz is the first LEED certified affordable housing in the State of Texas, and it is also Houston's first 'green' multifamily housing development. The fact that Sakowitz is 'supportive' housing and that it has achieved platinum certification the highest level makes this recognition even more significant.Situated in Greater Fifth Ward/Denver Harbor, Sakowitz opened in October 2010.

NHH at Perry - 160 units To facilitate the development of NHH at Perry, the City of Houston made a performance based grant to Houston Area Community Development Corporation, who, in turn, loaned the funds to Perry SRO, Ltd. The development also includes financing from Housing Tax Credits, allocated by the Texas Department of Housing and Community Affairs, and funds from the City of Houston, as well as private charitable contributors, including the Houston Endowment Inc., The Brown Foundation, JPMorgan Chase Foundation, and other foundations and corporations.As a LEED platinum certified property, NHH at Perry is New Hope's second energy-efficient, 'green' property. The building opened in October 2012.Situated in Foster Place, one of Houston's historic neighborhoods, the Perry property is located south of the University of Houston off Griggs Road and Cullen Boulevard. Perry is New Hope's sixth SRO community.

NHH at Rittenhouse - 160 units To facilitate the development of Rittenhouse, the City of Houston made a performance-based grant to Houston Area Community Development Corporation, who, in turn, loaned the funds to Rittenhouse SRO, Ltd. The development also includes financing from Housing Tax Credits, allocated by the Texas Department of Housing and Community Affairs, as well as private charitable contributors, including the Houston Endowment Inc., The Brown Foundation, The Meadows Foundation, and other foundation and corporate supporters. As a LEED platinum certified development, Rittenhouse is New Hope's third energy-efficient, 'green' property. Rittenhouse is New Hope's first property north of Loop 610 and is located off I-45 North at the corner of Stuebner Airline and Rittenhouse Road.Rittenhouse is New Hope's seventh SRO property. The building opened in December 2013, and reached stabilized occupancy in record time, which speaks strongly to the dire community need for this type of housing.

NHH at Reed - 187 units With the opening of Rittenhouse, New Hope celebrated reaching its near-term goal of developing and managing almost 1,000 units of SRO housing. There is a compelling need for Housing + Services for a number of very low- to moderate-income populations in Houston, and New Hope is now positioned to address a variety of supportive housing needs. The Board of Directors made a strategic decision to respond to this need, and to expand New Hope's reach to reduce the footprint of homelessness for Houston families, as well as continuing to serve individuals. New Hope has opened its first affordable, supportive housing for homeless and near homeless families. This innovative community, NHH at Reed, is a 187-unit apartment complex made up of 1-, 2-, and 3- bedroom units. It is located off Highway 288 and Reed Road. With the goal to uplift families from generational poverty, the organization provides robust onsite social services that focus on addressing food insecurities, education, health, and employment. Designed by GSMA, Inc. and constructed by Camden Builders, this development is LEED Gold certified. A grand opening ceremony took place in September 2018. The Reed development has received numerous accolades and media mentions since its opening. That includes being honored, together with its neighboring partner Star of Hope, with the 2020 ULI-Houston Development of Distinction award. The City of Houston committed $10.1MM in local Homeless Bond Program funds, which have been leveraged with other public/private investments.

NHH at Harrisburg - 175 units New Hope opened its first mixed-use development, NHH at Harrisburg. This transit-oriented community is a 175-unit SRO serving individuals living on extremely low incomes. The nonprofit organization celebrated a grand opening in April 2018. Located on the light rail in Houston's East End, Harrisburg also includes 4,000 SF of retail space and 7,500 SF of commercial office space, which is now home to New Hope's corporate office. Underscoring their commitment to mission, New Hope located their headquarters where their residents live. As the organization's fourth LEED platinum certified development, NHH at Harrisburg was designed by Ernesto L. Maldonado, AIA of GSMA, Inc. As evidence of its impact on the community, Harrisburg has already been honored with several awards and accolades, including: the 2019 Houston Business Journal Landmark Award in Community Impact; the Houston Apartment Association Landmark Award in Tax Credits; the National Association of Housing and Redevelopment Officials Award of Excellence; and, the U.S. Green Building Council Leadership Award. The City of Houston committed $6.6MM in HOME funds plus a portion of local Homeless Bond Program funds. To create a true public/private partnership, New Hope leveraged these funds with 4% Housing Tax Credits and Bonds, allocated by the Texas Department of Housing and Community Affairs, in addition to grants and contributions from private sources. Under the terms of an agreement for the sale of New Hope's original 129-unit Hamilton Street Residence, Hamilton closed when Harrisburg opened. Hamilton residents were given the opportunity to move to the new 175-unit Harrisburg property or to another New Hope property of their choice, based on availability and eligibility.

NHH Dale Carnegie - 170 units New Hope celebrated the opening of its ninth SRO development, NHH Dale Carnegie, in October 2020. NHH Dale Carnegie was the first affordable housing development to break ground in Houston after Hurricane Harvey. The timing of its opening was fortuitous as people recover from COVID-19 and natural disasters. Located in the Sharpstown area of southwest Houston, this project is a 170-unit SRO serving individuals on extremely low incomes. Many of the residents are people who have experienced homelessness. Ernesto L. Maldonado, AIA of GSMA, Inc. designed this LEED Gold certified property. The City of Houston committed $8.5MM in HOME plus a portion of local Homeless Bond Program funds. To create a true public/private partnership, New Hope leveraged these funds with 9% Housing Tax Credits, allocated by the Texas Department of Housing, and Community Affairs, in addition to grants and contributions from private sources.

NHH Avenue J - 100 units In 2022, New Hope opened its second property for families. Located in Houston's vibrant, culturallyrich East End, NHH Avenue J offers 100 units of 1- and 2-bedroom apartments for working families and those on a fixed income. This multifamily property is our first designed for working families. It is in the historic Second Ward where naturally occurring affordable housing (NOAH) is dwindling, and development of high-end urban homes are becoming prolific. The location is one of Houston's five Complete Communities and a designated Concrete Revitalization Area. It will offer an affordable option in a rapidly gentrifying neighborhood with escalating rental rates. The City of Houston invested $12,485,000 in Community Development Block Grant (CDBG) Disaster Relief funds, which were monies allocated to local municipalities by the U.S. Department of Housing and Community Development. Those funds were leveraged with 4% Housing Tax Credits and Bonds, allocated by the Texas Department of Housing and Community Affairs. Additional grants and contributions from private sources helped to close the funding gap.

NHH Savoy - 120 units This multifamily property is our second for working families. It is also the second New Hope property in Houston's Southwest Sharpstown neighborhood, just a block from the Dale Carnegie SRO. This high quality apartment community is thoughtfully designed near health and education institutions in a transitcentric neighborhood near high frequency bus lines. The NHH Savoy property was completed in Q3 2023 and offers 120 apartment homes comprised of 1-, 2- and 3-units and 6,000 square feet of shared community space. The City of Houston invested $12MM in Community Development Block Grant (CDBG) Disaster Relief funds. These are monies allocated to local municipalities by the U.S. Department of Housing and Community Development to help Texas rebuild and recover from Hurricane Harvey. Those funds were leveraged with 9% Housing Tax Credits, allocated by the Texas Department of Housing and Community Affairs. Additional grants and contributions from private sources closed the funding gap.