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Ribbon Cutting Ceremony Marks the Opening of Rasmus-Temenos

NEW YORK, March 4, 2024 /PRNewswire-PRWeb/ -- Temenos Community Development Corporation (CDC) in partnership with The NHP Foundation ("NHPF"), a national not-for-profit provider of affordable housing, announced the opening of Rasmus-Temenos, 95 Permanent Supportive Housing (PSH) apartments at a Ribbon-Cutting ceremony today.

The construction of Rasmus-Temenos is a testament to the collaborative efforts of government entities, nonprofit organizations, and private sector partners dedicated to addressing the pressing issue of homelessness in this community, many of whom addressed the crowd at the event today.
Of the momentous occasion, Mayor Pro-Tem Martha Castex-Tatum said, "Saving this housing that will provide specialized services in order to increase the wellness of the population was achieved by all the entities here today, through innovative funding mechanisms and unwavering commitment, this project ensures that vulnerable individuals have access to safe and supportive housing."

The property includes an entire floor that is dedicated to at-risk youth and 80 of the units replace those lost to The Texas Department of Transportation (TxDOT) to make way for highway improvements. Funding for this transformative project includes significant contributions from the City of Houston Housing and Community Development, with $12.5 million allocated, and $11 million in Community Development Block Grant (CDBG) funding for Disaster Recovery from Harris County. Community Services Department.

These critical funds, approved by the Texas General Land Office (GLO), underscore the government's commitment to supporting initiatives that address homelessness and housing insecurity. Of the project, Clarissa Perez, Intergovernmental Relations Manager, Disaster Recovery, Texas GLO added, "The completion of Rasmus-Temenos is a significant milestone for the Texas GLO, whose ongoing efforts to manage state lands includes creating positive change through effective, affordable housing."

"Houston has long been at the forefront of helping residents in need, particularly those facing difficult circumstances, and our partnership with Temenos CDC helps us with that endeavor," said Director Ketih Bynam, Housing and Community Development. "The City is proud to be part of Rasmus-Temenos, an extraordinary affordable home community that offers addiction recovery support and other health and wellness benefits that will make life-changing impacts on residents for years to come."

Additionally, Temenos CDC has provided $735,000 towards the project, demonstrating their dedication to serving low-income individuals and families in the Houston area. Key Bank provided $10 million in construction financing, while WNC has contributed $10.3 million in tax credit equity. Furthermore, tax-exempt bonds issued by the Houston Housing Finance Corporation and 4% tax credits allocated by the Texas Department of Housing and Community Affairs (TDHCA) have played a crucial role in financing the development.

Rental subsidies for the 95 units will be provided by the Houston Housing Authority, with approximately $600,000 in annual services funding allocated to the project by the U.S. Department of Housing and Urban Development (HUD), with the support of the Coalition for the Homeless. 
"This comprehensive funding through our Continuum of Care programs ensures that Rasmus-Temenos will provide much-needed rent support to individuals experiencing homelessness in Houston," said Eric R. Cobb, Field Office Director, HUD Field Policy and Management, Houston Field Office.

Temenos CDC, known for its mission-driven approach to affordable housing and supportive services, has played a pivotal role in championing this initiative. With a portfolio that includes Knowles-Temenos, Temenos Place, and Temenos III SRO, the organization remains committed to creating inclusive communities where all residents can thrive.

Eva Thibaudeau, CEO of Temenos CDC, highlighted the cooperative nature of the project and thanked all funding partners for their support. She stated, "All affordable housing is collaborative and we are grateful to our funders for the faith they have shown in our two organizations helping us take this enormous step."

The relocation of Temenos II to Midtown, within one mile of its current location, underscores the commitment to maintaining continuity for residents. Dr. Rudy and Juanita Rasmus, founders of the Temenos development, expressed gratitude for the support of TxDOT and the seamless transition process for residents.

"This rebuilding was a long journey, involving the efforts of several agencies and individuals to ensure that the 80 rental apartments lost are now restored for individuals experiencing homelessness," said Neal Drobenare, Sr. Vice President of NHPF, emphasizing the importance of this project in preserving permanent supportive housing for vulnerable individuals in Houston.

About Temenos CDC
Temenos has been building permanent supportive housing since 2006, with the first property, Knowles Temenos Place Apartments (Temenos I), at 1719 Gray St. Since that time, Temenos has built two additional properties, Temenos II and Temenos III. Temenos CDC properties are located in the Downtown, Midtown and East End areas of Houston. All three neighborhoods are undergoing significant revitalization. Therefore the presence of the Temenos properties to help alleviate the challenges of homelessness is vital.

About The NHP Foundation
Headquartered in New York City with offices in Washington, DC, Baltimore and Chicago, IL, The NHP Foundation (NHPF) was launched on January 30, 1989, as a publicly supported 501(c)(3) not-for-profit real estate corporation. NHPF is dedicated to preserving and creating sustainable, service-enriched multifamily housing, and single-family homes that are both affordable to low and moderate income families and seniors, and beneficial to their communities. NHPF's Construction Management Group provides in-house resources dedicated to infrastructure review, infrastructure development and cost management. Through Family-Centered Coaching, NHPF's subsidiary Operation Pathways engages with, and assists, families experiencing poverty and other hardship, to problem-solve together. Through partnerships with major financial institutions, the public sector, faith-based initiatives, and other not-for-profit organizations, NHPF has over 10,000 units, in 16 states and the District of Columbia. For more information, please visit .

Media Contact
marijane funess, , 19148303754, [email protected],

SOURCE NHP Foundation