A new affordable housing development is going up in Houston’s Third Ward, led by Rice Real Estate Company, in partnership with Brinshore Development and the nonprofit Family Scholar House.
The project, Manson Place for Parent Scholars, combines affordable housing with comprehensive family support services to support single parents pursuing higher education
"Rice Real Estate is pleased to support this development that will expand access to quality affordable housing," Sam Dike, senior manager, real estate and asset management, said in a statement.
The 76-unit development will serve households earning between 30 and 80 percent of the area median income (AMI), with a focus on families earning at or below 50 percent AMI. According to the U.S. Department of Housing and Urban Development (HUD), 80 percent AMI for a family of four in Houston is $75,700.
Houston ranks second nationwide in the shortage of affordable rental homes for households earning at or below the federal poverty line or 30 percent of the area median income, according to a report by the National Low Income Housing Coalition.
Rice Real Estate Company, a subsidiary of Rice University that buys and manages properties such as Rice Village and the Ion District in Midtown, has tasked Brinshore Development, a firm specializing in mixed-income housing, to lead the project. Family Scholar House will oversee support services for residents, offering access to career counseling, financial literacy programs, and other resources.
“Scholar House is a proven program that promotes self-sufficiency and represents our commitment to creating inclusive communities that lift families up out of the generational cycle of poverty,” said Richard J. Sciortino, founding principal of Brinshore Development. “By combining affordable housing with educational support, we are not only addressing their immediate housing needs but also investing in their future and the future of their children.”
Funding for the project comes from Amegy Bank, Memorial Hermann Health System, and Rice University. Rice’s portion is a part of the $15.3 million Ion District Community Benefit Agreement established in 2022 to support community development and mitigate potential impacts around the Ion. While community organizers sought a direct agreement, Rice instead negotiated the deal with the city, leading to criticism over limited community input, as reported by the Houston Chronicle.
Rendering courtesy of Brinshore Development
Rice Real Estate is partnering with Brinshore Development and Family Scholar House to build affordable housing units in the Third Ward.
Manson Place will also rely on Federal Low-Income Housing Tax Credits, state and county ARPA funding, and an operating subsidy from the Houston Housing Authority. A low-interest loan from Rice Real Estate and Memorial Hermann helped close the project’s financing gap.
Construction has begun on Manson Place for Parent Scholars, with completion anticipated by year-end.
A rendering illustrates one of the building's penthouses.Rendering courtesy of Shimahara Visual