Near Northside · Houston, TX
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Yellow Cab Houston Site Redevelopment
The proposal requests funding for the redevelopment of the former Yellow Cab Houston site, aiming to address community needs such as affordable housing, environmental remediation, and the revitalization of a historically significant area. The project aims to build at least 65-70 housing units, serving a range of income levels, with community-oriented commercial spaces and green space for amenities. The plan includes a mix of unit sizes to support multi-generational living and affordability.
6.8
Acres
65–70
Housing Units
$7.3M
Total Investment
3
Tracts
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Background and Significance
A Pivotal Moment for Near Northside
The Near Northside, affected by displacement and crime, stands at a pivotal moment for transformation. The 6.8-acre former Yellow Cab site offers an opportunity to combat these challenges.
The site's proximity to downtown, the light rail, and local amenities, coupled with its rich cultural heritage, presents a unique setting for a landmark development.
Tract Ownership Status
Tracts 2 and 4 are owned by HLB. Tract 3 is under contract.
Investment Opportunity
$7.3 Million Total Investment
The project requires a total investment of $7.3 million, encompassing land acquisition and pre-development expenses. This presents a unique opportunity for investors and funders to contribute to a transformative urban development project that aligns with social, environmental, and economic goals.
Tracts 2 and 4 are owned by HLB, Tract 3 is under contract
Community Engagement and Vision
HLB has engaged the community extensively from 2020–2022. The vision formulated includes mixed-use development with a focus on affordable housing, retail options, and green spaces. This approach ensures that the redevelopment reflects the community’s needs and aspirations.
"COLORFUL, DIVERSE, SINGLE-FAMILY HOUSING WITH GREEN SPACE AND WALKABLE FOR HUMANS AND DOGS"
Environmental Justice and Remediation
With EPA brownfields grant funding, HLB has completed environmental remediation of the site. This process has been pivotal in preparing the land for safe and sustainable development, aligning with environmental justice principles. With brownfields grant funding awarded by the U.S. Environmental Protection Agency (EPA), the Houston Land Bank conducted Phase I and II site assessments and engaged the community in reuse planning. The assessments identified several environmental issues within the soil that were discovered, removed, and cleaned up. Remediation included lead-impacted soil, removal of underground storage tanks, and excavated petroleum. TCEQ review and the clean-up process of the property is complete as of January 2024.
2019–2020
Site Acquired
2020
Completed Phase I Environmental Site Assessment (ESA)
2020–2022
Phase II ESA & additional investigations
2020–2024
Cleanup activities on Tract 2 and 3
2022–2025
Reuse planning, community visioning, and redeveloping
BUDGET
Funds will be used to acquire 3 out of 6 acres of the Yellow Cab site in Houston and to initiate predevelopment activities to develop 65–70 affordable single-family homes. The 3-acre tract is contracted with the Houston Land Bank, and the remaining 3 acres are owned by HLB. The budget will cover acquisition costs and pre-development support needed, such as demolition, site planning, and infrastructure support. Funders will be able to determine unit quantity and affordability range in partnership with HLB.
Item | Description | Total |
|---|---|---|
Acquisition | Costs to close on tract 3 (middle tract) | $4,900,000 |
Off-Site | off-site removal | $25,000 |
Site Work | site preparation activities, including demolition of existing structures, replatting of the land, and establishing necessary infrastructure. | $600,000 |
Direct Construction | supports the purchase of construction materials. | $500,000 |
General Soft Costs | architectural and other professional services. These costs encompass the design, planning, and oversight. | $600,000 |
Construction Financing | costs associated with financing the construction phase. | $286,000 |
Reserves | support community engagement efforts and additional professional services that may arise during the development process. | $230,000 |
Developer Fees | administration and support of the project. | $184,000 |
Total | $7,300,000 |