NHPF Builds Texas

Cleme Manor Apartments 5300 Coke Street, Houston, TX 77020 / 284 units

Originally constructed in 1970, Cleme Manor is situated on 12.8 acres east of downtown Houston in the Greater Fifth Ward-Finnegan Park neighborhood. There are a total of 284 residential units (24 single-bedrooms, 112 two-bedrooms, 120 three-bedrooms, 24 four-bedrooms, and 4 five-bedrooms) in Cleme Manor’s 24-building garden style community. The surrounding neighborhood is in the midst of a comprehensive City of Houston redevelopment with over $35 million in streetscape improvements, multifamily housing construction, and single family rehabilitations. Cleme Manor is part of the City’s Tier 1 redevelopment zone, an area which has received targeted city investments.

At the time of its acquisition, Cleme Manor had not undergone a comprehensive rehabilitation in over 20 years, and many of the building elements had reached the end of their useful economic lives. A substantial and comprehensive rehabilitation of the property was required. Construction included demolition down to the studs, disposal of asbestos-containing materials, replacement of all windows, doors, existing interior wiring, kitchen and bathroom cabinets, countertops, fixtures, sinks, toilets, 75% of all tubs, re-piping all waterlines, repair and replacement of sewer vent and sanitary piping, replacement of the property’s existing HVAC system with new equipment meeting modern energy efficiency standards, and a complete renovation of the property’s office, laundry and community service areas. The redeveloped property includes ample space for resident services and new landscaping and exterior recreation areas for children and adults.

$ 40,900,000


Secured financing and funding for this project included:

$ 18,542,700

HUD Insured Mortgage Financing Provided by PNC Bank

$ 4,260,000

HOME & CDBG Funded Loans from City of Houston

$ 16,498,350

LIHTC Equity Provided by NAHT (BBVA as Investor)

$ 1,598,950

NHPF, Existing Reserves & Interim Income

$ 13,089,221


Secured financing and funding for this project included:

$ 9,600,000

Bank of America

$ 3,000,000

City of Houston

$ 489,221



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