The NHP Foundation Completes Acquisition of Land to Create 3300 Caroline in Houston
New construction will create 149 affordable rental apartments
The NHP Foundation, a national not-for-profit provider of affordable housing, announced Jan. 19 that it has finalized the lease of land from Magnificat Houses Inc. in order to build 149 housing units for those experiencing homelessness in Houston. The new apartments at 3300 Caroline will be known as RoseMary’s Place.
The acquisition was made possible with $18,656,493 from the City of Houston Housing and Community Development Department, $10,248,169 from the Harris County Community Services Department, $13,554,324 from the sale of tax credits to Hudson Housing and $2,363,369 from Magnificat Houses Inc. as a sponsor loan. Demolition of existing structures on the Caroline property is completed.