Houston, TX – Appropos Real Estate is proud to announce its participation in a transformative affordable housing initiative in Houston’s historic Third Ward, in partnership with the Herbert Stroman Foundation, Womack Development & Investment Realtors, Stellar Bank, and its sister company Gulfstone Alliance Build & Design.
This collaborative development will deliver eight high-quality affordable homes to residents of the Third Ward, a neighborhood rich in culture and legacy. Through the City of Houston’s Affordable Home Development Program (AHDP) and with funding support from the Midtown Redevelopment Authority (TIRZ 2), the project will help expand access to homeownership for families earning between 60% and 120% of the Area Median Income (AMI). Each homebuyer may qualify for up to $125,000 in down payment assistance, helping to significantly reduce the barriers to entry for first-time and income-limited homebuyers.
“This project is about more than just construction—it’s about access, equity, and investment in communities that matter,” said Peter Nwaokolo, Executive Director at Appropos Real Estate. “We’re honored to work alongside a powerhouse team that shares our vision of inclusive growth.”
The Midtown Redevelopment Authority has allocated $705,000 in infrastructure reimbursement funds for this development as part of the City’s broader strategy to support affordable infill housing across the Greater Third Ward and Southeast Houston. According to City records, the Herbert Stroman Foundation was awarded funding to construct these homes as part of a 47-home initiative supported by AHDP, reflecting public-private coordination to achieve long-term community impact.
Appropos Real Estate and its construction affiliate, Gulfstone Alliance Build & Design, bring deep experience in homebuilding, property management, and residential development. This project reflects a continuation of their legacy, having delivered over 100 homes across Texas and managed properties throughout Houston, Beaumont, San Antonio, and Dallas.
Together with trusted partners like Womack Development and Stellar Bank, this development represents a blueprint for how financial institutions, nonprofit visionaries, and development leaders can come together to change the landscape—one home at a time.
To learn more about this initiative or explore eligibility, visit the City’s program page:
houstontx.gov/housing/homes/greater-third-ward.html
About Appropos Real Estate
Appropos Real Estate is a premier full-service firm offering brokerage, property management, design/build, and consulting services. Known for its elevated service and strategic execution, Appropos delivers impactful solutions across residential and commercial markets statewide.
