History of Hope
HOPE acquired the General Partnership Interest in Sea Greens Apartment Homes, a planned unit development of 110 single family homes operated as an apartment home community located in Port Lavaca Texas. 100% of the units were set aside for residents at or below 60% of the Area Median Gross Income, as defined by HUD, and 5% of the units are used as transitional housing units for families that have experienced financial hardships.
Hope acquired the Limited Partnership Interest of Sea Greens Apartment Homes, giving 100% ownership to the Foundation.
HOPE, in partnership with the Texas Department of Housing and Community Affairs and the Enterprise Foundation, purchased Eban Village Apartments, a 330 unit multi-family housing development located in Dallas Texas. 100% of the units are set aside for residents at 30%, 50% or 60% of the Area Median Gross Income, as defined by HUD. HOPE has partnered with the City of Dallas to provide housing through a HUD funded City Grant for up to 70 families or persons that have experienced chronic homelessness. Some of these units are in Eban Village.
The Foundation relocated its principal office from Amarillo, Texas to McKinney, Texas.
HOPE, in partnership with the United States Department of Agriculture (USDA), United States Department of Housing and Urban Development (HUD), and Medlock Southwest Management, acquired Lavaca Landing Apartments, a 24 unit housing development in Hallettsville, Texas. 100% of the units are set aside for resident at or below 50% of the Area Median Gross Income, as defined by HUD.
HOPE, in partnership with the United States Department of Housing and Urban Development (HUD) acquired Cypress Cove Apartments (formerly Beechgrove Apartments), a 468 unit multifamily housing development located in Westwego, LA.
100% of the units are set aside for residents at 50% or 80% of the Area Median Gross Income as defined by HUD.
HOPE is focused on the acquisition and preservation of existing affordable housing communities. Through efficient asset oversight, management, and ownership, HOPE will maintain and \ or provide stability to the current operations. HOPE will concentrate on providing quality management services to the residents of these communities to ensure all affordable housing requirements are met and strict adherence to apartment leasing laws are applied. HOPE currently has a staff of experienced real estate and affordable housing professionals with a passion to meet the needs of the affordable housing community. The Board of Directors commit to ensure all properties owned and operated by HOPE are an exceptional example of quality affordable housing and a beacon of hope within their communities.
The ability to serve our Residents, Limited Partners, and Governmental Agencies in either of the aforementioned capacities would benefit all parties. HOPE, as a replacement general partner for a non-performing general partner, could possibly reduce the probability of any tax credit recapture for the limited partners, as a qualified replacement of a Non Public entity, could possibly reduce or eliminate the loss of ad valorem taxes associated with communities that currently possess the exemptions. In most cases, events such as these could dramatically affect the operations of the communities, and prohibit the ability of the community to service the needs of the residents.
We appreciate the opportunity to introduce you to HOPE. The following pages will provide you with information, future plans and goals of the Foundation, and unfold our sincere passion to uplift, strengthen and stabilize our communities with HOPE.
Hope Housing Foundation can Help Hope Housing Foundation (HOPE) is a Texas nonprofit corporation dedicated to the creation and preservation ...Learn more