Guest danax Posted March 3, 2006 Share Posted March 3, 2006 I've been wondering what was going to go up on a prime (although the railroad, Clayton Homes and 59 are right there) parcel of 2.5 acres at Canal & Navigation. I'm a little disappointed to learn that it's not going to be a great luxury mid-rise as this area is just getting started and needs a big project to solidify the up-trend/conversion from industrial to residential, but that's just my selfish Sim-Houston side I suppose. With over 50 market-priced units, the lower-income population hopefully will behave themselves and the complex won't be allowed to degenerate, a potential hazard of all large apartment complexes. At 6 stories, there will be some great downtown views. Bizjournal article. Quote Link to comment Share on other sites More sharing options...
travelguy_73 Posted March 3, 2006 Share Posted March 3, 2006 I too have been wondering what was going up there. I have friends in the Alexan Lofts as well as the adjoining Perry development. I think the area is kinda cool, but the train ruins any thought of living there--it is not quiet! Quote Link to comment Share on other sites More sharing options...
houstonsemipro Posted March 3, 2006 Share Posted March 3, 2006 Any rendering on this project? Quote Link to comment Share on other sites More sharing options...
MidtownCoog Posted March 3, 2006 Share Posted March 3, 2006 behave themselves Don't let your negative view of the East End turn you off ;-)I knew some hard working people who live in a place like this in Las Colinas. It wat not bad at all. Isn't there a place like this already behind Ninfa's? Quote Link to comment Share on other sites More sharing options...
Guest danax Posted March 3, 2006 Share Posted March 3, 2006 Don't let your negative view of the East End turn you off ;-)I knew some hard working people who live in a place like this in Las Colinas. It wat not bad at all. Isn't there a place like this already behind Ninfa's? There's a new lime-green place on Canal that could be one of those. I agree that working class sounds fine. I don't know how any similar projects around town have fared, but would like to hear. Just over-paranoid about the possibility the creation of the next Gulton. Guess I should just kick back and relax. If you can't trust governnment and private developers to create great neighborhoods then who can you trust...? Quote Link to comment Share on other sites More sharing options...
MidtownCoog Posted March 3, 2006 Share Posted March 3, 2006 Guess I should just kick back and relax.It's good to be paranoid. Yeah, I think it's the lime green place. It's pretty trippy looking. Mabye it's a cult. Quote Link to comment Share on other sites More sharing options...
Original Timmy Chan's Posted March 3, 2006 Share Posted March 3, 2006 This sounds similar to the apartment complex that was built on the east side of 288, off of Peerless just south of Yellowstone, a couple years ago. I don't exactly what kind of program it is, but there's some kind of subsidized rent at this apartment complex. My wife and I live within a stone's throw of the place, so we went in and asked about the complex before it opened. The apartment complex looks nice, is well-maintained and landscaped, and when we found out how low the rents were, we were floored! Turns out it's some kind of subsidized rent, but not Section 8, where the renters must pass criminal background checks and show proof of employment annually. In addition, there are minimum and maximum income levels that you must meet to live there. You have to make a certain income level to show proof that you can afford to live there, but if at some point your income exceeds the maximum, you have to leave.Anyhow, the apartments are only about 2 years old, but they still look good, and I haven't seen or heard of any problems in the area since they were built. Apparently these subsidized apartments are not discouraging any development, because directly across the freeway from that complex, two additional developments are going up. These two developments are a bit more upscale as well, an Alexan apartment complex, and an Urban Lofts townhome development, just south of Yellowstone on the west side of 288. Quote Link to comment Share on other sites More sharing options...
MidtownCoog Posted March 3, 2006 Share Posted March 3, 2006 You have to make a certain income level to show proof that you can afford to live there, but if at some point your income exceeds the maximum, you have to leave.Same deal in Las Colinas. Quote Link to comment Share on other sites More sharing options...
Guest danax Posted March 3, 2006 Share Posted March 3, 2006 Turns out it's some kind of subsidized rent, but not Section 8, where the renters must pass criminal background checks and show proof of employment annually.Why, that's an outrage! How could they be so discriminatory? It's not fair!Does the N.O. city council know about this? Quote Link to comment Share on other sites More sharing options...
Original Timmy Chan's Posted March 3, 2006 Share Posted March 3, 2006 (edited) Why, that's an outrage! How could they be so discriminatory? It's not fair!Does the N.O. city council know about this?Hey, for the prices they were paying, it was well worth it. I can't remember for certain, but it seems like a 1,000 sf apartment was going for $600-$700/month. Now we just hope that the apartments stay in good condition. There is another complex (Park Yellowstone Apts) right at the corner of Yellowstone and 288 that I have been told is Section 8. It's nearly 10 years old, and is still in beautiful condition. I hope this newer apartment complex stays in as good condition.EDIT: OK I just looked up the newer apartment complex near me. It's called Parkside Point, and here's an article from the Houston Business Journal from 2003...it gives a little more insight into how this complex was financed:Picerne Development Corp. is building a new affordable housing complex in Houston representing more 260 units. The Florida company received $18.6 million in debt and equity financing for the Houston project from CharterMac and its subsidiaries Related Capital Co. and PW Funding Inc. Together, the companies have helped boost Houston's affordable housing stock by more than 1,250 affordable units over the last 18 months. The new Houston project, Parkside Point Apartments, is being built at 3360 Alice St., between Old Spanish Trail and the South Loop. CharterMac provided $12.2 million in debt financing to Picerne through the purchase of tax-exempt bonds generated by the development. Related Capital provided $6.4 million in equity for tax credits generated by the complex. The majority of the apartments will target families earning 60 percent or less of the area's median income, though rents are to be restricted to the 50 percent level and expected to start at about $600 per month. And my memory is not too bad, as it turns out: 2bdrm/2bath, 968 sf, for $622/month. 3bdrm/2bath, 1154 sf, $719/month. Also has swimming pool, hot tub, fitness facilities, W/D hookups, rec facilities. Edited March 3, 2006 by Original Timmy Chan's Quote Link to comment Share on other sites More sharing options...
bkjones98 Posted March 3, 2006 Share Posted March 3, 2006 Why, that's an outrage! How could they be so discriminatory? It's not fair!Does the N.O. city council know about this?"Disciminatory"? I hope you are joking. Your rhetorical question leads me to thing so. Quote Link to comment Share on other sites More sharing options...
Guest danax Posted March 3, 2006 Share Posted March 3, 2006 "Disciminatory"? I hope you are joking. Your rhetorical question leads me to thing so. Yes, I am. I guess that's what those little faces are for... I think it's good that government and developers show a little civic responsibility via basic qualifying criteria like this when they encourage and develop these projects. It is only practical to learn from the past and present how pockets of crime are created and avoid those things. Everyone's got to live somewhere but deep densities of low-income housing can drag a city down. Keep them scattered around at least. Sounds like, so far, these places are doing fine. As the city gets more and more expensive, and with a lot of our population growth coming from a less-prosperous sector, we can expect more and more of these to go up. A lot of the displaced will be likely live in these style apartments as the many of the simple old houses from bygone eras get bulldozed and replaced. Quote Link to comment Share on other sites More sharing options...
bkjones98 Posted March 3, 2006 Share Posted March 3, 2006 Yes, I am. I guess that's what those little faces are for... I think it's good that government and developers show a little civic responsibility via basic qualifying criteria like this when they encourage and develop these projects. It is only practical to learn from the past and present how pockets of crime are created and avoid those things. Everyone's got to live somewhere but deep densities of low-income housing can drag a city down. Keep them scattered around at least. Sounds like, so far, these places are doing fine. As the city gets more and more expensive, and with a lot of our population growth coming from a less-prosperous sector, we can expect more and more of these to go up. A lot of the displaced will be likely live in these style apartments as the many of the simple old houses from bygone eras get bulldozed and replaced. Sounds like socialism to me Quote Link to comment Share on other sites More sharing options...
MidtownCoog Posted August 25, 2006 Share Posted August 25, 2006 I have only seen it from the 59th floor but it looks HUGE! Quote Link to comment Share on other sites More sharing options...
Guest danax Posted March 10, 2007 Share Posted March 10, 2007 The exterior's just about finished. This place is huge indeed. I must say it looks good and hopefully the mixed income plan works out good too. Quote Link to comment Share on other sites More sharing options...
houstonfella Posted March 10, 2007 Share Posted March 10, 2007 This is too crazy. We (2 cute girls and ol' houstonfella) went over to Ninfa's today. I told the girls that I thought this was "subsidized housing" and they laughed and said NOT; no way. I am not opposed to the nice complex; I do fear that undesirables might ruin a beautiful thing. However, I do hope this works out well. The location neartown is awesome. Quote Link to comment Share on other sites More sharing options...
musicman Posted March 10, 2007 Share Posted March 10, 2007 This is too crazy. We (2 cute girls and ol' houstonfella) went over to Ninfa's today. I told the girls that I thought this was "subsidized housing" and they laughed and said NOT; no way. I am not opposed to the nice complex; I do fear that undesirables might ruin a beautiful thing. However, I do hope this works out well. The location neartown is awesome.this particular complex run by New Hope is only subsized WRT the actual construction of the building. the complex is supposedly self sufficient from the monthly rents collected. Quote Link to comment Share on other sites More sharing options...
Guest danax Posted March 10, 2007 Share Posted March 10, 2007 this particular complex run by New Hope is only subsized WRT the actual construction of the building. the complex is supposedly self sufficient from the monthly rents collected.This isn't the New Hope complex. That one is the one referred to by Coog in post #6. Quote Link to comment Share on other sites More sharing options...
bachanon Posted March 10, 2007 Share Posted March 10, 2007 we have income restricted apartments in the woodlands as well. they have been around for more than ten years, are well maintained and for all practical purposes, appear to be an average apartment complex. i've found that retirees, ex-military and new families starting out, among others, benefit from these complexes.i don't think these apartments will hurt the area in any way. if anything, they will help create the downtown synergy we are all looking forward too. we need more of this type of development inside the loop. Quote Link to comment Share on other sites More sharing options...
musicman Posted March 10, 2007 Share Posted March 10, 2007 This isn't the New Hope complex. That one is the one referred to by Coog in post #6.ah ok, i'm talking the one across the sampson from the original ninfa's parking lot. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.