HOUSTON, Texas (KTRK) — For families priced out of Houston\u2019s housing market, a new opportunity could soon be taking shape in southwest Houston.<\/p>\n
Houston City Council just approved plans for a 12-acre property along Stella Link near Main Street. City leaders said the project will bring dozens more affordable homes to the area.<\/p>\n
Council members said the proposed development will be called Braes Park.<\/p>\n
“This represents a really important investment in homeownership,” said Houston Mayor Pro-Tem Martha Castex-Tatum.<\/p>\n
Council records showed the city acquired the property back in 2022 with disaster recovery funds.<\/p>\n
On Wednesday, council voted to sell the property to developer Willowbend Link, LP, for more than $13 million. They also approved a construction loan agreement to finance the proposed development.<\/p>\n
“These affordable homes will range between $210,000 and $300,000 next to some market-rate townhomes built by the exact same builder,” Castex-Tatum said.<\/p>\n
According to city leaders, the property will include 144 single-family homes, 89 of which will be considered affordable housing.<\/p>\n
“This gives access to people that are working in the medical center,” Castex-Tatum said. “The location is just absolutely perfect.”<\/p>\n
This comes as city leaders acknowledge that buying a home is out of reach for many Houstonians.<\/p>\n
According to the Kinder Institute’s 2026 State of Housing report, home prices in Houston have risen 21% since 2020.<\/p>\n
In the Houston area, the median home price is approximately $345,000, according to the Houston Association of Realtors.<\/p>\n
“Everybody is talking about home affordability and how affordability is slipping away,” Castex-Tatum said. “The American dream of owning a home and passing a home down to your family members is getting harder as prices increase.”<\/p>\n
To qualify, a family of four would need an income of around $125,000 or less.<\/p>\n
“We can agree that purchasing a home remains one of the most meaningful opportunities to build generational wealth,” Castex-Tatum said.<\/p>\n
As for when the homes will be built and how someone can inquire about purchasing, the council has not made that information available yet.<\/p>\n
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