Temenos Place Apartments
Affordable Housing Coming Soon to Houston, Texas
Construction on Temenos Place Apartments, a 95-unit Permanent Supportive Housing building, began in the Summer of 2021 and is slated to be completed in 2023. Temenos Place will be a six-story elevator-served podium building consisting of 95 efficiency apartments, shared space for supportive service programs, and office space for The NHP Foundation’s partner in this development, Temenos Community Development Corporation. All units will be efficiencies with full kitchens and baths. The building will meet ICC 700-2020 National Green Building Standards. The new community space will provide a robust permanent supportive services program designed to prevent 95 households from being displaced into homelessness.
Total Development Cost
| $34,765,819 |
Financing
Secured financing and funding for this project include:
| $10,264,800 | 4% LIHTC Equity |
| $14,000,000 | City of Houston HOME Reinvestment |
| $8,000,000 | City of Houston CDBG Disaster Relief |
| $1,500,000 | City of Houston Housing Bond Reinvestment |
| $735,398 | Temenos CDC Seller Note |
| $265,621 | Deferred Developer Fee |