April Housing Preserves Affordability at Houston-Area Affordable Housing Community

Investing over $20 Million in Community-wide Renovation Brings Total Units Preserved in Texas to Nearly 2,000

LOS ANGELES, August 21, 2025 – April Housing, Blackstone Real Estate’s affordable housing portfolio company, today announced the closing of a 236-unit affordable housing community resyndication in the Houston metro area, adding at least 30 years of affordability for the residents. This is April’s first resyndication in Houston and brings the company’s total number of preserved units across the state of Texas to 1,875.

“Through Blackstone Real Estate’s substantial resources and with the partnership of the state and local housing agencies, we have been able to close on our first preservation deal in the Houston area,” said Alice Carr, CEO of April Housing. “In the last year, we have preserved almost 2,500 units across our portfolio, ensuring affordability at these communities for at least another 30 years, with much more to come.”

Built in 2005 under the Low-Income Housing Tax Credit program (LIHTC), this community sits outside of Houston, in Webster, Texas, near the NASA Space Center campus and a new Great Wolf Lodge, the family entertainment and indoor water park resort brand backed by Blackstone Real Estate. It is made up of 25 garden-style buildings and uniquely features private garage parking in each building. The property will undergo $22 million in renovations that will include full kitchen and bathroom overhauls, new energy-efficient lighting, appliances, flooring, and fresh paint throughout the units. The public community spaces will also receive a thorough update, including clubhouse modernization, fitness center refresh, new gathering areas, pool renovation and a new playground and sport court for residents to enjoy.

“We are also proud to be offering additional resident services on-site that could include anything from an after-school program, adult education classes, recreational activities, health and wellness, or career training opportunities,” said Perica Bell, April Housing’s Head of Preservation.

With the completion of this resyndication, April Housing has now preserved nearly 2,500 affordable housing units since 2024.