Details
Address
5520 Old Spanish Trail, Houston, TX 77023
Units
130
Developer
DWR Development
Estimated Budget
$43,000,000
Timeline
Dec 12, 2022 - Houston City Council to vote on $21.3M in loans for affordable housing developments
If passed, the money will be used for the acquisition and development of OST Lofts, a $43 million development that will provide multifamily affordable housing. The National Equity Fund and Amegy Bank are the city's joint venture parters on the project. The Tejano Center is partnering with developer Donna Rickenbacker from Houston-based affordable housing provider DWR Development for the project. (Bizjournals)
Jan 9, 2023 - Locke Lord's Austin Affordable Housing Team recently closed a transaction for DWR Development, which will construct and own OST Lofts, a 130-unit mixed income rental complex. DWR Development partnered with the Tejano Center for Community Concerns, Inc., a local nonprofit, and received financing from Amegy Bank, (Locke Lord)
Jan 11, 2023 - We are buzzing with anticipation for construction to begin on OST Lofts in Houston! As the city struggles with a shortage of affordable housing, the City Council has approved a loan to the Tejano Center for Community Concerns to build a 130-unit affordable housing development on purchased land. The city was already experiencing a shortage of affordable housing before the devastation of Hurricane Harvey depleted nearly 25 percent of its existing units. (Nationalequityfund)
