Client OM Housing wins prestigious Vanguard Award
FOR IMMEDIATE RELEASE
CONTACT: Julie D. Ratcliff
BOSTON HEIGHTS APARTMENTS IN BENBROOK WINS PRESTIGOUS VANGUARD AWARD
DALLAS November 4, 2021 - OM Housing (OMH) has announced its Boston Heights apartment community, located in Benbrook, Texas, was awarded a prestigious National Vanguard Award from the National Affordable Housing Management Association (NAHMA).
Boston Heights is located southwest of Fort Worth, in Benbrook, Texas on a 10.5-acre site which faced significant challenges before the project’s inception. The site was previously home to homeless encampments and illegal activities before the community was completed in 2017. The LEED-Gold certified, 144-unit affordable housing community features numerous amenities and residential services, including a clubhouse with a community center, kitchen, and audio-visual equipment for social events, along with separate spaces for business, fitness, and children’s activities. In partnership with Abundance of Life, Boston Heights provides after-school tutoring and social programming, family-focused resources and support, community integration activities, and year-round social events.
The property was designed in a trendy, hybrid, urban style with smaller buildings and flat roofing to better harmonize with nearby single-family homes. The project was financed with 9% housing credits from the Texas Department of Housing and Community Affairs, along with an FHA 221(d)4 debt.
The National Vanguard Award recognizes newly developed or significantly rehabbed affordable multifamily housing communities which showcase high-quality design and resourceful financing. The excellence exhibited throughout these multifamily developments belies the notion that affordable housing cannot be assets to their communities. Vanguard Award winners deliver powerful proof that affordable housing done well can transform neighborhoods as well as the lives of individual residents. Each year, NAHMA selects only 3 award winners in affordable housing: 1 rehabilitation project, 1 new project under 100 units, and 1 new project over 100 units.
“Boston Heights is a strong example of Housing Tax Credits being used right, says Deepak Sulakhe, Owner/CEO of OM Housing. “The tax credits helped clean up a site mired in illegal activities and convert a non-marketable site into a gorgeous LEED-Gold community. Boston Heights is a win-win to its neighbors, the local jurisdiction, and primarily to its residents.”
About OM Housing
Deepak Sulakhe, President/CEO, established OM Housing in 2005 and has developed over 7,500 units with over $950 in debt and equity since then. OMH’s last three projects are the first LEED Gold certified multifamily communities in their respective municipalities. OMH has 3 additional projects under construction. In keeping with the Green Living precedent, will also be the first in their cities to hold NGBS Certifications.
The goal of developing quality affordable housing that sets the standard among multifamily complexes, along with the value of implementing Green Living standards, set OMH apart from its counterparts. Some of OMH’s other projects have won other awards such as Best Multifamily Project of the Year and Best Commercial Project of the Year.