A groundbreaking ceremony was held earlier today to celebrateThe Hollows, a multifamily development to replace housing lost during Hurricane Harvey.
When complete, the $39.35 million community will feature 192 new apartment homes for families seeking housing in the Channelview area.
The development will be financed with Harris County’s Community Development Block Grant – Disaster Recovery funds in conjunction with construction and private permanent financing from Citi Community Capital and tax credit equity from Hunt Capital Partners.
“We are pleased to partner with LDG Development to provide much-needed quality housing for Harris County families,” said Harris County Housing Authority CEO Horace Allison in a press release . “This multifamily housing community will replace housing resources lost during Hurricane Harvey while adding an attractive, viable, and valuable asset to the neighborhood.”
The Hollows will provide a host of amenities to the families it serves, including a fully-equipped clubhouse, business center, fitness center, laundry facilities, a swimming pool with a sun deck and a playground.
Leasing is expected to begin in 2022, with rents ranging from $384 to $848 for a one-bedroom/one-bath unit, $532 to $1,065 for a two-bedroom/two-bath, and $615 to $1,230 for a three-bedroom/two-bath unit.
“We are in a housing crisis. Families who were first displaced by natural disasters like Hurricane Harvey are now facing difficulty staying in the places they grew up because of rising costs,” said Harris County Precinct Two Commissioner Adrian Garcia in the press release. “As we face the economic impacts of COVID-19, which is placing additional strain on families, I am proud that we are coming together to bring new, quality housing units for Harris County families.”
The Hollows is one of several housing communities being developed by HCHA in partnership with the private and public sectors to serve families recovering from Hurricane Harvey’s aftermath.
HCHA is currently developing more than 650 additional housing units scheduled to be brought into the Harris County housing rental market in 2022.