HOUSTON--(BUSINESS WIRE)--The Life at Grand Oaks, a 556-unit affordable rental community located in Houston’s Greater Inwood neighborhood, will both add to and preserve critical affordable housing units for families in Northwest Houston. Olive Tree would like to thank the Texas Department of Housing and Community Affairs for its determination of 4% Low-Income Housing Tax Credits and the Houston Housing Finance Corporation for its allocation of tax-exempt bonds. In addition to The Life at Grand Oaks, Olive Tree Affordable Housing Development closed The Life at Parkview in May 2021, a HUD-insured substantial rehabilitation located in Pasadena, TX. “Both projects demonstrate the value our adaptive approach to affordable housing preservation creates and we are pleased to be afforded opportunities such as these to provide solutions for the long-term preservation of affordable housing to our Partners,” says Brennan Sanders, Vice President of Affordable Housing Development at Olive Tree. About Olive Tree HoldingsFormed in 2017, Olive Tree is a private real estate investment firm focused on the acquisition, reposition, and management of workforce and affordable multifamily communities in dynamically growing U.S. markets.

Source: MetroXpress August 17, 2021 18:56 UTC