A new affordable housing community is providing 192 homes for families in Houston’s Greenspoint, a neighborhood that was severely impacted by the devastation of Hurricane Harvey in 2017.
From Atlantic|Pacific Cos. and Harris County Housing Authority, The Arbor at Wayforest was developed to replace lost housing and serve families still recovering from the hurricane’s aftermath.
“With over 30,000 residents displaced to emergency shelters during Hurricane Harvey, a drastic loss of affordable housing was inevitable. Greenspoint, one of Harris County’s most vulnerable areas, has consistently been affected by all calibers of flood events. Historically, the area has been densely populated with substandard housing,” says Melissa Quijano, acting executive director of Harris County Housing Authority. “There are residents that were displaced by Hurricane Harvey [living at The Arbor at Wayforest]. It is our hope to contribute to their journey to wholeness after experiencing one of the most traumatizing weather events of our time.”
The development, which started delivering units a year ago and was completed in December 2022, serves families earning between 30% and 60% of the area median income, including 15 units set aside for families experiencing homelessness who have gone through the local Continuum of Care.
“It was fully leased by the time the last units were completed in December, which reflects the community’s strong demand for new, high-quality affordable housing,” says Dan Wilson, executive vice president of Atlantic|Pacific Cos. “We are proud to see the substantial positive impact The Arbor at Wayforest is having on the residents and the surrounding community.”
Residents have access to a wealth of social services from the in-house property management team, including adult education classes, financial literacy courses, employment assistance programs, and on-site social events. In addition, amenities include a swimming pool with a sundeck, a fitness center, a business center, a playground, and a dog park.
“The Arbor at Wayforest provides citizens the opportunity to thrive in an affordable and resilient home centered on fostering community. [It also] provides resident-focused services dedicated to promoting self-sustainability and an opportunity to excel personally and economically,” adds Quijano.
The $36 million development was financed with $20 million in tax-exempt bonds for construction issued by the housing authority and funded by Bank of America; $14 million in tax-exempt bonds and permanent financing issued by the housing authority and funded by Citi Community Capital; $12.6 million in 4% low-income housing tax credit equity from Bank of America; and $9.52 million in Community Development Block Grant–Disaster Recovery (CDBG-DR) funds from the Harris County Community Services Department.
“All of our funding partners were instrumental in making this development a reality, but this development would’ve been impossible without the essential CDBG–DR funding contribution from Harris County,” says Wilson. “These funds were handed down following the devastation of Hurricane Harvey to help replace the thousands of homes lost in the storm.”
The Arbor at Wayforest was designed by architect Ted Trout Architect & Associates and built by HCA Redevelopment Authority and Atlantic|Pacific Community Builders–Texas.