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The Life At Westpark

Project Impacts

Back to Project Details: The Life At Westpark

Note: At the time of this report, SDS is in the process of collecting additional data from the project sponsor, development team consultants, local government officials, community stakeholders, and others to assess the full scope of the project’s impacts in the context of the surrounding community. The projected impacts below are based on the ASREF CRA Analysis. For more information on Impact Report methodology, please see section 1.3.


The Life at Westpark benefits LMI individuals by maintaining the quantity and improving the quality of affordable housing in the area. Sixty-two of The Life at Westpark’s previous residents had an average income of $700 per month and received housing assistance. Approximately 20% of the units were occupied by tenants that are on subsidized rent with Section 8 vouchers or similar housing assistance. The property is part of a LIHTC program and is currently in the extended-use period.  This requires that all the units are leased to individuals earning 60% or less of the area median income.  

The redevelopment of The Life at Westpark created eight jobs with a total aggregate payroll of $461,618 per annum. The annual average income of $57,702.25 is higher than the 2018 tract median family income.

Economic
Development
Impacts

Impact on LMI Individuals & Communities

  • Improves housing quality and services
  • Maintains strict rent controls under LIHTC regulations (60% and below)
  • Improved maintenance, community area amenities and roof repairs 
AREA REVITALIZATION

By preserving affordable housing for LMI individuals in Houston, The Life at Westpark supports the service industries in which most of its residents work. ASREF’s investment allowed these LMI individuals to live close to where they work while also sustaining and improving the LMI housing inventory.

ALIGNMENT WITH LOCAL REDEVELOPMENT PLANS

The Life at Westpark is located in a Texas Enterprise Zone (areas that are identified by the states as highly distressed and targeted for revitalization). The project’s site improvements and updated maintenance may catalyze other similar investments either in residence or commercial real estate. This aligns the redevelopment of The Life at Westpark with the goal of the Texas Enterprise Zone to “encourage private investment and job creation in economically distressed areas of the state.”