Parkside Point

3360 Alice Street, Houston, TX 77021
Status: Available
Year Built: 2004
For more information please contact:
jeff@lihtcadvisors.com
In Cooperation with:

Mike Elliott
Energy Real Estate Solutions, LLC
Managing Principal
701.713.6606
Mike.Elliott@Energyreco.com

# of Units: 260
# of Buildings: 12
# of Stories: 2
Rentable SF: 274,680
Lot Size: 14.91 Acres
Density: 17.44 Units/Acre

Highlights:

  • Opportunity to Convert All Units from 50% Rental Limits to 60% Rental Limits at the Expiration of the Bond Restrictions in February 2021
  • Located in the Most Populous City in Texas and the 4th Most Populous in the U.S.
  • AMI’s in Harris County have Increased by Over 10% Since 2016
  • Excellent FMR Growth on Two & Three Bedroom Units with a 24% Increase from 2015 to 2019
  • Located 3 Miles from NRG Stadium and 5.5 Miles from Downtown Houston

Description:

Parkside Point Apartments is a 260-unit affordable apartment community located in Houston, TX. The property is conveniently located within minutes of shopping, entertainment, schools, and downtown Houston.

Parkside Point was built in 2004 and placed in service in 2005 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 60% of Area Median Income (AMI) limits, which are provided by Texas Department of Housing & Community Affairs. The property is still within its initial tax credit compliance period.

Parkside Point offers two and three bedroom apartment homes featuring open floor plans with a full appliance package, ceiling fans, and washer & dryer connections. Community amenities include a clubhouse, fitness center, on-site laundry facility, business center, bbq/picnic area, on-site management, on-site maintenance, playground, and community pool.

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