The Houston Housing Authority appears poised to terminate a $24.3 million agreement to build a 260-unit affordable housing complex in Independence Heights, but officials at the agency so far have not publicly explained why.
If the housing authority follows through, it will owe developer Columbia Residential $2 million in fees, according to a memorandum of understanding between the two, and put committed bond financing, private investment and a 4 percent tax credit in jeopardy, even if a new developer is brought on to complete the project.
The housing authority and Columbia Residential have been consulting with the northwest Houston community on the project since 2018, said Rev. Ray Mackey. The reverend serves on the Independence Heights Redevelopment Council and is the former chair of the Independence Heights Greater Houston Baptist Ministers Alliance…