A new apartment project offering mostly affordable housing units has broken ground on a nine-acre tract near Ella and Rankin Road in north Houston near Greenspoint, according to filed city permits and brokers involved in the deal.
The Oasis at Ella was also approved for a low income housing tax credit from the Texas Department of Housing and Community Affairs. Documents show $1.5 million in credits were requested. The developers behind the Oasis at Ella LLC filed building permits valued at $24.7 million with the city of Houston for the six-building complex, which includes a club house.
Fred Ghabriel, a partner at Houston-based Bejjani & Associates Inc., represented the seller, Northborough Wiese Joint Venture. Representatives for the buyer were listed as Andrew Armour on the project’s low-income housing tax credit application. Armour declined to comment.
A page detailing the development team members lists Houston-based Canterbury Development LLC as the developer, and another document within the application dated June 15, 2017, showed the ownership structure for the Oasis at Ella, with 99.99 percent owned by RBC Capital Markets Tax Credit Equity Group and the other .01 percent owned by Ella Apartments LLC. Of that .01 percent, 100 percent is owned by I.E.G. Interests Inc. Documents filed with the Texas comptroller show Canterbury Development’s registered agent name as I.E.G. Interests Inc.
Houston-based Element Architects designed the 135-unit project, with 102 affordable and 33 market rate apartments. The location is outside of both the 100- and 500-year floodplain, whereas 72 percent of all multifamily units in the Greenspoint area are located inside the floodplain or floodway, the application states.
In 2017, the Houston Housing Authority broke ground on its first new affordable housing project in a decade. The year prior, Mayor Sylvester Turner Mayor Sylvester Turner blocked a proposed affordable housing development at 2640 Fountain View Dr., located in a so-called “high opportunity” neighborhood in the Briargrove area near the Galleria. The move prompted a federal Housing and Urban Development investigation, which found in 2017 that Houston had violated the Civil Right Act prohibiting discrimination in housing.