Councilman Boykins and Houston city officials join LDG Development to celebrate the completion of The Pointe at Crestmont
(Houston, Texas—April 15, 2019) Councilman Boykins, community leaders and other officials joined representatives from Louisville based LDG Development to celebrate the opening of The Pointe at Crestmont—a 192- unit affordable housing community for families located in Southeast Houston. Situated on an 11-acre site, The Pointe at Crestmont offers 1, 2- and 3-bedroom apartment homes for families earning no more than 60 percent of the area median income, or $44,,940 (family of four) annually.
The total cost of the development was $33 million and includes $5 million from the City of Houston; $3.4 million in block grant funding from the City of Houston’s Housing and Community Development Agency and almost $3.6 million in the city’s Tax Increment Reinvestment funds. Councilman Dwight Boykins, who represents the area, says benefits of The Pointe at Crestmont to District D, extend far beyond additional housing.
“The Pointe at Crestmont has transformed this site from an abandoned blighted property that was an eyesore to the neighborhood, to a site that offers high quality development that will provide residents with a variety of amenities and, more importantly, a place they can be proud to call home,” said Councilman Boykins. “I am confident that the opening of The Pointe at Crestmont is an important step in attracting additional investment into the area.”
The Pointe at Crestmont replaces an abandoned apartment complex that was built in 1973 and suffered extensive damage by Hurricane Rita. The building, which housed 308 apartment units, was closed in 2015. Residents of The Pointe at Crestmont will enjoy a number of amenities including a business and state of the art fitness centers; a swimming
pool and patio area, onsite laundry area and monthly residential events. Parking garages are also available for an additional fee. Tom McCasland, director of the City of Houston’s Housing and Community Development Department, says that The Pointe at Crestmont helps to address an ongoing need within Southeast Houston.
“There is an affordable crisis that was made worse by Hurricane Harvey. Rent has continued to rise while wages have remained stagnant,” said McCasland. “The Houston Housing and Community Development Department is committed to creating safe, affordable homes in communities where people can thrive.”
The Pointe at Crestmont is LDG Development’s 5th community in Houston.
LDG is the country’s largest developer of affordable housing with more than 10,000 units in eight states including Georgia, Kentucky, Louisiana and Tennessee. Chris Dischinger, founder and co-principle, of LDG Development, believes the addition of more affordable housing to a community strengthens an area’s economic development strategy.
“When businesses and organizations are considering relocating or expanding, increasingly the availability of a diverse work force plays a key role in their decision- making process,” said Dischinger. “Having a variety of housing options that can support a varied workforce is essential to any community’s ability to grow. It is clear that through this development and other initiatives, the City of Houston is committed to providing housing options that not only meet current needs but also strengthens its long-term economic development goals.”
As of April 1, The Pointe at Crestmont is 47 percent leased and 6 percent occupied. Monthly rental rates range between $752-$1,035. Dischinger says that as the occupancy rate at The Pointe at Crestmont increases, LDG will begin monthly programming that can enhance residents overall experience.
“LDG was founded on the believe that everyone deserves a quality place to live,” said Dischinger. “While our company has grown significantly over the past two decades, this philosophy continues to guide our work and shape the experiences we want to provide residents who call one of our communities home.”
About LDG Development
LDG Development is one of the country’s largest developer of affordable housing. The company was founded more than 25 years ago by Mark Lechner and Chris Dischinger based on their shared belief that everyone deserves a quality place to live. Since that time, the company has developed more than 10,000 units of high- quality affordable housing for seniors and families in eight states including Kentucky, Texas, Tennessee and Georgia.