kassiegirl Posted November 3, 2022 Share Posted November 3, 2022 Anyone know what is going to be built at the corner of Harrisburg & Burr Street? That lot has been vacant for many years. Quote Link to comment Share on other sites More sharing options...
wilcal Posted November 3, 2022 Share Posted November 3, 2022 (edited) I looked into it and it is actually kind of interesting. An LLC bought the property in 2012 and had this subdivision plat approved in 2018, but never recorded it. Basically, this is what WAS planned a few years ago: HCAD reports that the property was sold to the Houston Land Bank in Nov. 2021. If you aren't familiar, a land bank is where to promote affordable housing, they decouple the purchase of the land from the structure. Basically, the land bank will retain ownership of the land and the purchaser will only buy the home(s) that are built. They pay a lower mortgage and are still able to build equity. When they want to sell they typically need to sell to a qualified buyer and the price is only allowed to appreciate by a certain rate each year. Basically, it is most of the benefits of buying a home while keeping the cost as low as possible. More info on their website here: https://houstonlandbank.org/ Edited November 3, 2022 by wilcal 2 Quote Link to comment Share on other sites More sharing options...
hindesky Posted November 3, 2022 Share Posted November 3, 2022 1 Quote Link to comment Share on other sites More sharing options...
kassiegirl Posted November 3, 2022 Author Share Posted November 3, 2022 Thank you Wilcal! I own a vacant lot 2 doors down and have received many offers to sell my property and Houston Land Bank was one of them. Good to know what might be coming our way — looking forward to it. 1 Quote Link to comment Share on other sites More sharing options...
thedistrict84 Posted November 6, 2022 Share Posted November 6, 2022 I noticed the public alleyways in the plot and went to take a look at the satellite view. Had no idea those were there. No longer paved of course, but the patch of grass between the gas station on Lockwood and the fast food place gives an idea of where they were. Quote Link to comment Share on other sites More sharing options...
wilcal Posted November 7, 2022 Share Posted November 7, 2022 15 hours ago, thedistrict84 said: I noticed the public alleyways in the plot and went to take a look at the satellite view. Had no idea those were there. No longer paved of course, but the patch of grass between the gas station on Lockwood and the fast food place gives an idea of where they were. Honestly, they were probably never paved. The original developer dedicated them to the city and they were likely never improved. Adjoining property owners can get "their half" back from the city for free usually. Quote Link to comment Share on other sites More sharing options...
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