NHPF CASE STUDY
RoseMary’s Place / Houston, TX
PROJECT OVERVIEW RoseMary’s Place is a transformative affordable housing development in Houston’s Midtown neighborhood, providing 149 permanent supportive housing units for individuals exiting homelessness. Located on a full city block at Caroline and Stuart Streets, this four-story, elevator-served building offers not only stable housing but also comprehensive wraparound services to help residents achieve long- term stability. Developed in partnership with Magnificat Houses, Inc. (MHI), RoseMary’s Place provides residents with essential support, including healthcare coordination, treatment services, and job placement assistance. The thoughtfully designed building features efficiency apartments on floors one through four, with the ground floor offering resident services, programming, and property management offices. Additional common areas include multipurpose rooms, a warming kitchen, fitness center, laundry facilities, and a 24-hour staffed entry desk, ensuring residents receive the support they need in a secure and welcoming environment. The $46.28 million project is funded through 9% LIHTC equity and Hurricane Harvey disaster relief funding from the City of Houston, the TX General Land Office (GLO) and Harris County. With its strong focus on supportive services and community engagement, RoseMary’s Place serves as a model for innovative, sustainable, and compassionate housing solutions in Houston.
TYPE New Construction, Multifamily, Affordable Housing CLIENT Magnificat Houses, Inc. (MHI) ROLE Developer, Owner DEVELOPMENT COST $46.28M SOURCES • $14M in 9% LIHTC equity from Hudson Housing • $30M in local Disaster Relief Funds • $1.7M in prepaid commercial rent • $710,000 sponsor loan • $1.7M Social Services Reserve DEVELOPMENT MIX • 149 permanent supportive housing units • Community spaces including three multipurpose rooms, a warming kitchen, fitness center and gathering areas • On-site resident services and office space for support providers START TO COMPLETION 2023–2025
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