Standing in the shadow of downtown, the vibrant Near Northside bustles with generations-old taquerias, corner bodegas and shabby historic Victorian bungalows. Yet, in the past, the lack of zoning laws allowed for industrial sites to cut gashes through the historic residential grid.

Now, encroaching gentrification in the conveniently-located neighborhood also threatens the heavily-Latino community.

Enter Avenue Community Development Corporation (CDC), which recently unveiled its latest affordable housing community in the neighborhood. Less than three years ago, the development, dubbed Avenue Terrace, was a bleak FedEx freight facility. Now the land belongs to a 144-apartment community, with neighboring construction of a 90 single-family home subdivision of LEED-certified homes already underway.

The 20-acre site's former purpose clogged the dynamic Irvington Boulevard with intrusive shipping trucks. Soon, METRO's fleet of light rail cars will whiz by the development's doorstep, securing the area's potential as a walkable neighborhood.

"Most of the folks who have moved into these apartments moved in from this area," Mary Lawler, Avenue CDC executive director told CultureMap. "They had been doubling up with their parents or living in low-quality housing. People want the neighborhood to improve, but we want to make sure that the people who have lived here for a long time aren't forced out. So we're looking to create affordable housing, and people can be close to their jobs, friends and family."

Indeed, the Near Northside is increasingly desirable to the previous generation and new residents alike. One of the coveted 2011 Greater Houston Preservation Alliance's Good Brick Awards went to brothers Saul and Ruben Obregon for their renovation of their circa-1900 Victorian home in the area. Among the prospective transplants is none other than former mayor Bill White's son, Will White, a first-year teacher in the North Forest Independent School District.

At a recent ribbon cutting at Avenue Terrace's courtyard, Bill White, the son of two schoolteachers, recounted a recent anecdote involving his oldest son:

Already, the one- to three-bedroom units are nearly completely leased to middle- and low-income households. Monthly rents range from just below $300 to $1,000. Avenue CDC's planners have imbued the development with a sense of dignity through intelligently-designed interiors, a swimming pool and splash pad.

Children in the community have already painted a series of small tiles that will adorn benches. Other amenities include a computer lab and fitness center. What's more, residents will save money on utility bills thanks to Energy Star appliances.

Avenue Terrace was made possible with financing by Capital One Bank, Hudson Housing Capital, City of Houston Housing and Community Development Department, Texas Department of Housing and Community Affairs, Houston Endowment, Inc., Neighborworks America, Houston Housing Finance Corporation and Local Initiatives Support Corporation. Capital One provided debt and equity financing, including a $9.6 million construction loan and a $3.4 million permanent loan for Avenue CDC. The endeavor was also supported by a Houston Endowment grant and a subordinate loan from the City of Houston.

Construction is already in progress on the adjacent single-family project. When complete, the development will include a neighborhood park, walking trail and bike trail that links the development with Moody Park.

"With the single-family homes," White said, "people can put their roots in the community and say where they're from 20 years from now, that they grew up in a house and point down the street to the park and the neighborhood. Those are some of the best memories for many people."