Vesta Corp. said its renovation of Park Yellowstone Apartment Homes in Houston was recently awarded the Texas Apartment Association’s Affordable Housing Redevelopment Award for creativity and innovation in affordable housing.
Park Yellowstone was built in 1997 and serves an essential need from the risk of residents being displaced in an area of significant growth and investment, the company said.
The $30.2 million redevelopment included a complete renovation of all 210 apartments and townhomes. Community enhancements included a renovated leasing center, new swimming pool, new gazebo, enhanced lighting and installation of a state-of-the-art security camera system. The community also has an on-site daycare center, as well as case management services and resident activities on-site provided by Star of Hope Mission.
“Thanks to our many partners, including the City of Houston, TDHCA, Fannie Mae, PNC Bank, Key Bank, US Bank, and BMS CAT’s construction services we were able to complete an award-winning redevelopment which will benefit our residents for many years to come,” said Arthur Greenblatt, CEO and president of Vesta. “Park Yellowstone is an essential cornerstone to the preservation of affordable housing in the Greater OST / South Union neighborhood.”
