One month after Mayor Sylvester Turner said he would put a hold on tax break deals for...
One of the eight properties in question, the Cortland Spring Cypress apartments, was greenlit – the Houston Housing Authority will take the $37 million property off the tax rolls in exchange for making half of its 287 units more affordable.An affordable one-bedroom at the complex can rent for as much as $1,262, according to the Houston Housing Authority. Market rates for the one-bedrooms at the complex, according to its website, start at $1,270.
The Houston Housing Authority voted on Feb. 28 to move forward with eight public facility corporation deals. One was greenlit for acquisition; the others are still negotiating terms.
“PFCs are not a great tool for what we think of as affordable housing,” said John Henneberger, a co-director at the tenant advocacy group Texas Housers.
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