CHC Subsidizes New Affordable Homes in Houston, Texas with New Market Tax Credits

Avenue CDC is one of five non-profit recipients of Community Housing Capital’s (CHC) $30 million New Markets Tax Credit (NMTC) allocation. With a $5 million NMTC allocation from CHC, Avenue CDC plans to build approximately sixteen affordable homes at three different sites in the Northline community of Houston, Texas. CHC’s NMTC allocation and source loan will allow Avenue CDC to sell the homes at a lower price while not sacrificing construction quality.