HOUSTON — Miami-based developer Housing Trust Group has broken ground on The Rushmore, a $33.8 million affordable housing project located in the Energy Corridor of Houston. The community will comprise 101 units, 85 of which will be reserved for households earning at or below 30, 50 and 60 percent of the area median income.
Residences will come in one-, two- and three-bedroom floor plans. Amenities will include a pool, community clubroom, workroom, fitness center, game room and designated dog walking path. Completion is slated for spring 2026.
Financing sources for the project include $20 million in construction financing from Citi Community Capital; $15.2 million in Low-Income Housing Tax Credit syndicated through Raymond James; $3 million in HOME financing from the City of Houston; a $5.9 million American Rescue Plan Act (ARPA) loan from Harris County; and an $8.1 million permanent loan from Citi Community Capital.