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Houston City Council Approves Purchase Of Abandoned Apartments

The Houston City Council on Wednesday unanimously voted to pay for the acquisition of a dilapidated building in southeast Houston.

The Houston City Council on Wednesday unanimously voted to pay for the acquisition of a dilapidated building in southeast Houston.

The city will pay $5 million in loans to a nonprofit, which will help buy the abandoned Crestmont West apartment complex from a slumlord.

The money comes from the city’s affordable housing fund and federal community development grants.

The plan is to tear down the existing buildings and build a 192-unit complex for low-income people.

Some council members had previously expressed dismay over basically paying off the owner responsible for the blight. But Mayor Sylvester Turner convinced them that it’s the best way to address the problem and ensure the construction of affordable housing there.

Twitter post showing artist render of plans

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Florian Martin

Business Reporter

Florian Martin is currently the News 88.7 business reporter. Florian’s stories can frequently be heard on other public radio stations throughout Texas and on NPR nationwide. Some of them have earned him awards from Texas AP Broadcasters, the Houston Press Club, National Association of Real Estate Editors, and Public Radio...

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