Houston, Texas – on Tuesday, July 21, 2022, Magellan Housing and Royal American Companies and the City of Houston Housing and Community Development Departments, will celebrate the grand opening of 900 Winston, Houston’s newest and now fully-leased affordable senior apartment community which has revitalized a formerly light-industrial lot in the Montie Beach/ Heights Neighborhood.
The new apartment community provides 114 one- and two-bedroom residences for low income seniors 55 years or older who earn between 30% and 60% of the Area median Income (AMI), as well as 10 market rate units. Apartment features include fully equipped energy efficient kitchens, washer and dryer in unit, pantry, walk-in closets, and balconies. Community amenities include a central amenity center with a library, community room, breakfast bar, computer center, fitness center, pool with pavilion, pet park, and a walking path. The residents can also enjoy daily activities provided by the on-site management staff.
900 Winston has been a long-time vision and joint partnership with the City of Houston Housing and Community Development Department (HCDD). The HCDD provided $11,230,000 in Hurricane Harvey CDBG-Disaster Relief Funding. The community was also funded using 9% Low Inco
me Housing Tax Credits syndicated by RBC Community Investments totaling $14,900,000. Additional financing was provided by Community Capital with $14,500,000 construction loan as well as a $3,400,000 permanent loan with Freddie Mac.
