RHF Breaks Ground on Sagetree Terrace
RHF’s Sagetree Terrace, the last new construction project in Houston funded by the HUD 202 program, broke ground on March 2 with a ceremony and celebration held on the project site.
Sagetree Terrace will be a HUD 202 and Tax Credit community for older adults with 64 apartments. Sixty of the units will be funded with a HUD 202 Capital Advance, with additional funding from tax-exempt bonds and 4 percent low-income housing tax credits. Individual apartments will consist of a full kitchen, living and dining area, bedroom and full bath. Energy Star appliances will be used wherever possible throughout the apartment. Shared space will include a community room, an exercise room, a computer room, a library, an arts and crafts room and a central laundry room.
Sagetree Terrace will be RHF’s 16th community in Texas and its fourth in Houston. This community has been financed through a partnership with The Department of Housing and Urban Development, Wells Fargo Bank, Harris County Housing Finance Corporation, Texas Department of Housing and Community Affairs, and the Angelus Trust.
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