By Joel Scanlon
Foundation was laid for the new housing community of Travis Street Plaza on Thursday, February 9, 2012. This initiative accentuates constructing new 192-unit permanent housing community for disabled veterans and destitute across downtown Houston.
Photo Release -- Travis Street Plaza, LP Celebrates Groundbreaking for New Housing Community
Several guests attended the inaugural event that marked the initiation of construction for Travis Street Plaza. The attendees included representatives of National Equity Fund, Cloudbreak Houston, Department of Veteran Affairs, United States Veterans Initiative, Travis Street Plaza, the Federal Home Loan Bank of Dallas (FHLB Dallas), Amegy Bank of Texas, Mayor Annise Parker and state and local officials.
The estimation of the project amounts to $18 M. Substantial financial support was offered by Amegy Bank, which along with FHLB Dallas, presented $500,000 Affordable Housing Program (AHP) grant to support the construction of the project. Over $11 M was offered by National Equity Fund for low-income housing tax credit equity representing nine investors. Furthermore, the City of Houston Housing and Community Development Department contributed grant and bond funds of $5.7 M.
With Cloudbreak Communities, construction has been initiated on the five-story apartment community that will complement the existing, adjacent 286-unit facility called Midtown Terrace that accommodates veteran residents in short- and long-term transitional basis.
The new facility has 192 units, presenting subsidized permanent shelter for destitute and disabled veterans. Additional services such as medical care, job training, counseling, and mental health services by DVA, USVETS, Houston Volunteer Lawyers Program, Goodwill of Greater Houston, and other local service providers are available. Travis Street Plaza will be completed by the end of 2012.