Houston, TX, April 22, 2012 --(PR.com
)-- The Houston Housing Authority won the Houston Business Journal’s Landmark Award in the Public-Private Partnership category for the sale of its Scattered Sites properties. The Business Journal’s Landmark Awards honor the Houston area’s most influential real estate projects. In November 2011, HHA partnered with Paul A. Lynn & Associates, LLC and the National Residential Auctioneers, LLC to auction HHA’s entire scattered sites portfolio, which held 171 homes and 3 lots.
“The auction was the largest absolute auction held in the country in 2011,” said Principal Broker Paul A. Lynn. “The success of the program was a collaborative effort between the seller and the auctioneer.”
The Scattered Sites properties were a part of the Scattered Sites Homes Program which was intended to help low-income Houstonians move from living in public housing to owning their own homes. Although the program had some success in early years, eventually it became no longer viable and a drain on HHA’s resources. The entire portfolio was sold during the auction, which raised almost $8 million meaning that the Housing Authority will be able to more than replace the 171 homes.
“It is an honor to win this prestigious award,” said Houston Housing Authority President & CEO Tory Gunsolley. “It was a team effort that made this partnership successful.”
The Houston Housing Authority provides affordable homes and services to more than 60,000 low-income Houstonians, including over 17,000 families housed through the Housing Choice Voucher Program and another 5,500 living in 25 public housing and tax credit developments around the city. HHA also administers the nation’s third largest voucher program exclusively serving homeless veterans. More information about HHA can be found at www.housingforhouston.com.