FINANCED
Amegy Bank Provides $50M Construction Loan For Affordable Housing Projects In Houston
706 Berry Street & 2604 Gray Street
Development Site
Financed 257 days ago
Summary
Loan
TEXAS
Development Site
New Hope Housing (NHH) has secured a $50 million construction loan from Amegy Bank for the development of two affordable housing projects in Houston. The projects, known as NHH Gray and NHH Berry, will offer a total of 300 affordable units for low- and moderate-income residents. Located at 706 Berry Street and 2604 Gray Street in Houston, these developments aim to provide much-needed housing options for the community.
Summary of transaction details
- Property Type: Development Site
- Loan Amount: $50,000,000
- Lender: Amegy Bank - Ray Miller
- Landlord: New Hope Housing - Joy Horak-Brown
In addition to creating affordable housing, these projects will offer various amenities such as central air conditioning and modern kitchen appliances. Moreover, Bezos Academy locations for preschool education will be incorporated into the developments, providing educational opportunities for the residents. The financing provided by Amegy Bank showcases their commitment to supporting initiatives that address the affordable housing crisis.
Players
All
1
Lenders
1
Details
FINANCED
IMAGE: Ray Miller & Joy Horak-Brown
DATE: 09/02/2023
ADDRESS: 706 Berry Street & 2604 Gray Street
MARKET: Houston
ASSET TYPE: Development Site
LENDER: Amegy Bank (@AmegyBank) - Ray Miller
LANDLORD: New Hope Housing (@NewHopeHousingHouston) - Joy Horak-Brown (@HorakBrown)
LOAN AMOUNT: $50,000,000
LOAN TYPE: Construction Loan
NOTE: Amegy Bank is providing $50 million in financing to New Hope Housing (NHH) for two affordable housing projects, NHH Gray and NHH Berry, in Houston. These projects will create 300 affordable units for low- and moderate-income residents, offering amenities such as central air conditioning, modern kitchen appliances, and Bezos Academy locations for preschool education.View on map
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Address706 Berry Street & 2604 Gray Street
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