Houston Sells Off Its "Scattered Sites" Low-Cost Housting for $8 Million

Categories: Surreal Estate

No reasonable offer refused.
It's not the easiest real-estate market in history, but the city of Houston says it made $8 million in selling 171 scattered homes and three lots around town that had been designated for low-cost housing.

The 1987 experiment in scattering low-cost housing around neighborhoods only worked to a degree (Note: You must have read Evelyn Waugh's Scoop to get that reference), and the city sold the inventory and will apply the money to other low-cost housing.

"This is an example of innovation and efficiency that has beneficial results for Houstonians in need of housing, communities around the city as well as investors," Houston Mayor Annise Parker said in announcing the sales.

The Housing Authority's new president and CEO, Tory Gunsolley, said the properties were a drag on the agency. "Selling these properties was a critical first step in our effort to get the agency moving forward," he said.

Sponsor Content

My Voice Nation Help

Your choice: Leave the Waugh reference unstated so those who get it, get it.  Or, you could go the route of "I know something that you don't know ... and just in case you miss it read this: 'Note: You must have read Evelyn Waugh's Scoop to get that reference'.

Nope, I have not read Evelyn Waugh.

Now Trending

Houston Concert Tickets

From the Vault