It partially
what your particular jurisidiction is doing to lift the quality of life for existing and potential residents.... this is Palm Center station at the end of the soon to open Purple/Southeast Line (
at the bottom of the map)
They are trying to build fresh quality affordable housing with some market rate units in this complex in African American dense part of the city.... ....... and this in Houston, where the market is king ...........
EDIT: They are able to do this cause they are using Hurricane relief funds...
....erase everything I said..... but its still possible.
But I will say this....if we want to "keep" our urban black neighborhoods.... then its going to take young middle class blacks deciding to move back into the" hood"....that mish mash between "hood" and "professional" black is that internal socio-economic quandary ......................but for some reason its not a quandary for young professional whites and others who move into the same neighborhood...
... ....
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http://www.houstonchronicle.com/bus...ct-planned-for-old-flea-market-5930564.php#/3
Project to give new life to old flea market property
By
Nancy Sarnoff
December 2, 2014 Updated: December 2, 2014 9:47pm
By
Nancy Sarnoff
December 2, 2014 Updated: December 2, 2014 9:47pm
The former King's Best Market at 5110 Griggs.
A developer is planning a major upgrade to a worn-out corner of south Houston with an apartment and retail project where an empty flea market now stands.
With help from more than $15 million in public funding, the ITEX Group is preparing to remake the almost 10-acre site at the southwest corner of Griggs and Martin Luther King Jr. Boulevard with a $41 million project called the Village at Palm Center.
The development, which was designed by multifamily architecture firm Humphreys & Partners, will have 222 rentals, including 154 apartments and 68 townhouse-style units. Some commercial space is also planned.
Most of the apartments will be affordable housing for low- and moderate-income renters, but a portion will be priced at market rents.
"This will preserve the ability for people living in the community to continue living in their community," said Clark Colvin, executive vice president of the ITEX Group, which is planning to hold a groundbreaking ceremony at the site Wednesday afternoon.
The project, partially financed with tax credits, will also benefit from $15.3 million from the Hurricane Ike Disaster Recovery program.
Almost two years ago, the city received a commitment for about $150 million - a second round of federal hurricane relief funding - to be used in areas that experienced damage from the storm.
"We looked for areas in town where gentrification was starting to happen and property values were starting to rise, and we tried to isolate areas where we could be part of a catalyst for change," said Neal Rackleff, director of the Houston Housing and Community Development Department.
The Village at Palm Center is one of five multifamily projects that have or will receive a portion of the funding. Some $50 million will go toward multifamily pro-jects.
"We're expecting it to be a real game changer in that real estate market out there," said John L. Guess III, president of the Guess Group commercial real estate firm that brokered the sale of the flea market property. The site, inside the 610 Loop and south of the University of Houston, is near where Metro's Southeast light-rail line will be built.
The line will run from downtown to the Palm Center Transit Center near Griggs and MLK.
The Village at Palm Center project will replace the large King's flea market, which recently closed.
ITEX has been preparing the building for demolition, which is expected to occur this month.
"It's going to be a couple of big blighted buildings changed out for a group of exceptionally designed apartments and townhomes," Guess said.
A new street will run through the middle of the property.
Gated townhomes will be built on one side of the street, and a three- or four-story apartment complex will be built on the other.
The commercial space will be on a portion of the ground floor of the apartment complex.
The developer put the land under contract a couple years ago and recently closed on the 9.6-acre tract.
Port Arthur-based ITEX builds and manages affordable apartment complexes and rental housing. The Palm Center complex will be its first Houston development.
Colvin said the community has been supportive.
"Our project just kind of really fit in with what they already envisioned," he said.