Houston City Council has approved a $19.3 million loan for an affordable housing project in southeast Houston.
The Tejano Center for Community Concerns is undertaking the $43 million project. Funds from the city of Houston will assist the Tejano Center in its construction of the OST Lofts in the 5500 block of Old Spanish Trail.
City council’s funding of OST Lofts aligns with Mayor Sylvester Turner’s plan to combat affordable housing shortages with 7,000 new affordable housing units by the end of 2023.
OST Lofts will join the nearly 2,500 affordable housing units that are already under construction in greater Houston. Once built, the units will be designated for residents who make less than 60% of Houston’s median household income. Additionally, the Tejano Center plans to open a preschool on the property for residents.