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Urbannizer

EaDo Lofts: 4-Stories, 80-Units

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https://www.bizjournals.com/houston/news/2018/06/29/new-affordable-housing-apartments-coming-to-eado.html

 

https://i.imgur.com/Ok38SHY.png

 

 

Quote

 

New affordable housing apartments coming to EaDo

By Fauzeya Rahman  – Reporter, Houston Business Journal
Jun 29, 2018, 8:38am CDT
 

A new 80-unit, four-story building offering only affordable apartments will soon rise on a city block at the corner of Coyle and Napoleon streets in East Downtown, across the street from the new High School for Law and Justice and walking distance to the MetroRail Purple Line.

 

EaDo Lofts, a $18.4 million construction project, will be the seventh affordable housing project in Houston for Virginia- and Texas-based developer Mark-Dana Corp. The company closed on the 1.34-acre site it bought for a little under $3 million June 12, and David Koogler, president of the company, estimates the project will take about 14 months to complete.

 

“There’s a huge demand for affordable housing in that immediate area,” Koogler said.

EaDo Lofts qualified for a low-income-housing tax credit from the Texas Department of Housing and Community Affairs and will receive $1.5 million a year in tax credits for 10 years.

 

EaDo Lofts LP, the ownership entity of Koogler’s company, and tax credit investor U.S. Bancorp Community Development Corp., was represented by Houston-based Ingram Commercial Real Estate. Fred Ghabriel, a partner at Houston-based Bejjani & Associates Inc., represented the seller, a partnership between Hamilton Midtown LP, Yale Street Partners LP and Webster-Chenevert Ltd.

 

Apartments will range from one- to three-bedroom units with rents ranging from $421 to $1,168, based on the unit type and income band of residents compared to the area median income. To qualify for an apartment, residents can’t make more than 60 percent of the area median income.

 

For example, a family of four would need to earn $44,940 or less and a family of two couldn’t make more than $36,000 to qualify.

Common amenities will include a pool, fitness center, club room and business center with computers.

 

Houston-based Mucasey & Associates is designing the project, while Koogler Construction of Texas LLC will be the contractor. The project’s construction loan is through Amegy Bank.


 

 

Edited by ChannelTwoNews

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On 8/29/2018 at 12:21 PM, phillip_white said:

I believe this one has broken ground.

 

 📸 evidence anyone?

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This is almost done. Drive by it sometimes when I head home from work. Will try to get pics.

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12 hours ago, Urbannizer said:

 

 📸 evidence anyone?

 

Looking at Google Maps (February imagery) the wood framing seems to be pretty far along so Hindesky is on it as usual. 

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LOL - I live a couple blocks away, so it's easy to ride my bike by to get pics in this area.....great pic btw - love the downtown skyline in the background !!

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Its that development? Those look great. I ride my bike by there and always wondered how much it would take to live there. 

 

Old school Scott street near York to this...gawddamn. I used to do deliveries there as a teen in the 00's and even then, you could never imagine this going there. 

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Sorry if this is a little off topic -

 

These lofts look great... very heights like. But this stretch of 45 from downtown, south past UH, to 610 has a major identity crisis... Here is why:

- Heights like feel to these lofts (go with Eastwood vibes)

- Warehouse district / Eado (very urban reuse vibe)

- 3rd Ward - still a bit rough around the edges

- Art Deco / Modern UH

- Rustic - the affordable housing, juliet balcony pretend windows, stone etc..

- Mid Century Modern - 60s era buildings..

- Gulf coast / tropical landscape along freeway

- Flordia vibe?

 

Weird post... but I can never make out what this area will look like in 20 years. Lots of styles, all pretty divergent and not synced

Edited by Avossos
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This particular area - with the new high school and these apartments (lofts) is WAY different (better) than a couple years ago - it was crack home village when I moved to the area - you didn't want to even drive through the area....I posted in another thread a long time ago, I drove through one day just looking around and had bricks thrown at my car....I never ventured back !!

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This area is definitely in transition and I believe that in five years it will still be a hodgepodge of styles and still a little rough but it will be so much better than it was two years ago.

The Polk Leeland area continues to become more gentrified with the Heights /Montrose enclave of homes built in the early 20th century, and there are great restaurants popping up like Nancy's Hustle and the new Law high School. It's definitely different from the days I used to go watch the Houston Buffs play baseball as member of the Knotty hole club in this very neighborhood.

It's definitely turning the corner. 

Its just a very wide corner. 

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