The Green Oaks Apartments Development is designed to close the substantial shortage of affordable housing units in Houston. According tot the Houston Housing Authority, “Recent Census data indicates that over 400,000 households in Houston qualify for housing assistance at 80% of the Area Median Income (AMI), additionally there are 155,582 families currently living in poverty. Over 200,000 families in Houston pay greater than 30% of their income for housing. The existing housing stock only provides affordable opportunities for 76,725 families in Houston. This sheds light on the extent of the need for affordable housing for all families at all income ranges below 80% of AMI. The Houston Housing Authority wishes to increase the number of affordable housing units available for qualified residents within its jurisdiction.”
AMTEX will be developing 177-unit apartment complex in northeast Houston, valued at $20m. The project kicks off in August 2019 and will last for 29 months. Click here to access the presentation from the AMTEX Outreach event for a better understanding of key project timelines and trade/supplier needs.
Development Details
- Total Project Budget: $21,434,678
- Total Number of Units: 177
- Project Timeline: November 2019 – May, 2021
- Trade and Supplier Specialties Needed: 44
- City of Houston MWBE Participation Goal: $6,273,113
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- M/W/BE—34% Goal
- Minority-Owned Businesses: 23%
- Women-Owned Businesses: 11%
- Small Businesses: 4% (up to 4% can be used in place of M/WBE Goal)
- HUD Section 3 Participation Goal: $21,434,678
- Construction-Related 10% Goal
- Non-Construction-Related 3% Goal
- New Hires: 30% Goal
- M/W/BE—34% Goal