🚨 Houston CRE Controversy: Millions Diverted from Housing to Empty Offices! 🏢💰
Bill Rapp - Commercial & Residential Mortgage Broker Published on: 31/01/2025
Houston’s Affordable Housing Dilemma: A Tale of Mismanagement and Missed Opportunities 🏠💰 Houston’s Midtown Redevelopment Authority had a vision—a bold plan to curb gentrification and bring much-needed affordable housing to the historic Third Ward. The strategy? Purchase hundreds of lots, slow down displacement, and create opportunities for low-income families. Sounds great, right? Well, here’s where things take a turn. Instead of funneling the majority of those funds directly into housing, the largest single expense from their affordable housing budget wasn’t homes at all—it was a half-empty office building. 🤯
Bill Rapp, Commercial Mortgage Broker
