At LISC Houston, we recognize that safe, affordable housing is foundational to the financial health and well-being of our communities. It is the cornerstone of sustainable, economically vibrant, and diverse neighborhoods. However, recent trends have shown an alarming escalation in housing costs and robust development geared toward higher incomes, making affordable housing increasingly difficult to attain. In fact, according to The 2023 State of Housing in Harris County and Houston report, as of 2021, 51% of Harris County renters are burdened with housing costs exceeding 30% of their income.
The challenges extend to prospective homeowners as well. Data from the 2022 State of Housing report by the Kinder Institute for Urban Research at Rice University reveals that homeownership rates for Black households in Harris County have decreased from 41% in 2010 to 36% in 2020. Meanwhile, rates for white households have dropped slightly, and Hispanic household rates have remained stable. These trends are aggravated by significant wage disparities, particularly affecting low-wage workers in service and retail industries, alongside a consistent rise in home prices across Houston. This confluence of factors underscores the urgent need for more affordable housing options.
In response, LISC Houston is proud to announce the launch of the LISC Houston Pre-development and Preservation Grant. This initiative is designed to support the development and preservation of both single-family and multifamily affordable housing units, including mixed-use developments, throughout the Greater Houston area. The grant focuses on two main areas:
Pre-development: Support is provided for projects at the pre-development stage, preparing the groundwork for future construction and development.
Preservation: Efforts are aimed at maintaining and extending the affordability of existing housing to prevent its conversion into market-rate properties.
Eligible activities under this grant include environmental reviews, architectural and engineering services, market studies, legal expenses, and comprehensive community engagement efforts to name a few. Additionally, various preservation activities will be supported to ensure the longevity of affordable housing.
This grant opportunity is open to nonprofit housing developers and for-profit emerging developers. We are particularly interested in projects that demonstrate a potential for significant impact within underserved communities. By not only focusing on the development of new housing but also emphasizing the preservation of existing housing stock, we aim to address both the symptoms and the root causes of the affordable housing crisis in our community.
The application period opens on June 4th. Detailed application guidelines, eligibility criteria, and submission deadlines can be found here.
For more information, please contact Jason Grant, Program Officer, at jgrant2@lisc.org.