The construction of South Acres Ranch II, located in the Sunnyside community of Houston, is set to start next month.
Residents of the Sunnyside area and South Acres Ranch I are happy about the new condominium that is being marketed as “high-end housing development for low-income Houstonians.”
“(This is) affordable housing that’s very nice,” said 62-year-old recent St. Louis transplant Linda Pepper to khou.com. “I never, never expected to find a rental property like this.”
The gated community includes 128 four-bedroom single family homes, a community center, six playgrounds, a multi-level pool, ponds, fountains at the gated entries, onsite tutoring for children, financial literacy classes for adults at the community center and a covered bus depot area for children to wait for the school bus.
South Acres Ranch II will 48 single-family homes right by South Acres Ranch I. The homes are for families making $40,000 or less and the streets in the gated complex are named after recognized community leaders.
The project is financed partly with federal tax credits along with Capital One Bank, the City of Houston Housing and Community Development Department and the Texas Department of Housing and Community Affairs. the property was developed by Hettig-Kahn.
“It’s given the bank an opportunity to showcase what we call investing for good,” said John Yochum of Capitol One Bank.