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Better Cities Project
  • Home
  • About Us
    Our Vision
    BCP’s vision is that free-market municipal policy solutions are broadly available, widely acceptable, and regularly employed, enabling American cities to achieve their full potential as engines of economic prosperity. We reject the idea that cities are lost to free-market principles or policies.
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    BCP uncovers ideas that work, promotes realistic solutions, and forges partnerships that help people in America’s largest cities live free and happy lives.
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    304 S. Jones Blvd #2826
    Las Vegas NV 89107

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    (702) 608-2046‬

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    Monday through Friday, 8 a.m. - 5 p.m.

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    info@better-cities.org

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Home Community, Growth and Housing

Houston’s land bank succeeds where others fail

It leveraged its nonprofit status to avoid the bureaucratic delays common in city agencies

Patrick TuoheybyPatrick Tuohey
November 15, 2024
in Community, Growth and Housing
Reading Time: 2 mins read
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Houston’s land bank succeeds where others fail
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Roshan Abraham’s piece for Next City, “How Houston Land Bank Is Building Accessible, Affordable Housing – While Turning a Profit,” spotlights an innovative model in affordable housing led by Houston Land Bank (HLB) CEO Christa Stoneham. Since her 2022 appointment, Stoneham has prioritized accessibility by requiring new HLB-built homes to meet ADA standards for entryways, kitchens, and bathrooms—a critical consideration in a state where accessible, affordable housing is sparse.

The Houston Land Bank’s mission stands out. While land banks traditionally prioritize affordability, HLB has leveraged its nonprofit status to access grants and streamline projects, enabling it to retain control over vacant, tax-delinquent properties while avoiding some of the bureaucratic delays common in city agencies. Since 2019, HLB has transitioned to a government-affiliated nonprofit, allowing it to ensure these homes remain below market rate for residents earning up to 120% of the area median income, while also generating tax revenue and uplifting neglected neighborhoods.

Stoneham’s leadership has seen HLB take on ambitious projects, from developing affordable single-family homes to securing a $5 million EPA grant to clean up contaminated land for future developments. Importantly, her approach has balanced accessibility and affordability with profit-making—a rarity in the affordable housing sector—by selling lots for below-market prices yet sustaining a 12% profit margin for builders. This model enables HLB to continually reinvest in the communities it serves, even as it navigates rising property costs and shifting budgets.

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Abraham’s article highlights HLB’s growing impact on Houston’s affordable housing stock, which has declined alongside rising property prices in recent years. Through forward-thinking management, Houston Land Bank demonstrates a viable path to not only provide accessible, affordable homes but to do so while delivering real economic returns—a model that many other cities should consider replicating.

Tags: BlightHousing AffordabilityReal EstateRegulation
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Patrick Tuohey

Patrick Tuohey

Patrick Tuohey is co-founder and policy director of the Better Cities Project. He works with taxpayers, media, and policymakers to foster understanding of the consequences — sometimes unintended — of policies such as economic development, taxation, education, and transportation. He also serves as a senior fellow at Missouri's Show-Me Institute and a visiting fellow at the Virginia-based Yorktown Foundation for Public Policy.

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