WNC & Associates and Pedcor Companies to Construct Comprehensive Affordable Housing Community in Houston

The new development will create 264 units of affordable housing in the Kohrville neighborhood

/EIN News/ -- HOUSTON, April 24, 2025 (GLOBE NEWSWIRE) -- WNC & Associates (WNC), a family-owned business known as both a pioneer and leader in the affordable housing industry, and Pedcor Companies, a full-service development, construction, property management, banking and finance team, have closed a deal to begin construction on Willow Creek Manor, a new affordable housing community in Houston, Texas.

Located off of Highway 249 in the Kohrville neighborhood of Northwest Houston, the new development will provide 264 units across 11 garden-style buildings and span 261,228 square feet. Willow Creek Manor will be comprised of 72 one-bedroom, 156 two-bedroom, and 36 three-bedroom units targeting families at or below 60% of the area median income (AMI).

Each residence at Willow Creek Manor will be thoughtfully designed with comfort and sustainability in mind. Residents will enjoy Energy Star-rated electric ranges, microwaves, and refrigerators, alongside convenient washer/dryer hookups. The units are equipped with modern central air conditioning, energy-efficient dishwashers, and ceiling fans for year-round comfort. Each residence also boasts a private patio or balcony, exterior storage, and a blend of durable carpet and composite flooring. Window blinds and garbage disposals add to the convenience, ensuring a well-rounded living experience at Willow Creek Manor.

“Providing high-quality, affordable housing to low-income families is at the core of what we do,” said Darrick Metz, Vice President of Originations at WNC. “Willow Creek Manor will not only bring safe, sustainable homes to families in need, but it will also enhance the surrounding community through thoughtful design and impactful amenities.”

The development will also include a clubhouse featuring a business/computer center, community room, laundry room, fitness center, and on-site management office. Residents will enjoy outdoor amenities including a swimming pool, grilling area, playground, and common area Wi-Fi.

The $79.8 million project, which includes hard costs of $173,801 per unit, is structured using 4% LIHTC credits, tax-exempt bonds, and a HUD loan (FHA 221(d)4).

Construction is expected to be completed in 2027.

About WNC & Associates
Founded in 1971, WNC & Associates (WNC) is a family-owned business known as both a pioneer and leader in the affordable housing industry. WNC and its affiliated companies specialize in tax credit syndication, affordable housing development, and preservation equity fund investments. Combined, the WNC companies have acquired approximately $18.2 billion in assets across 48 states, including more than 1,800 affordable rental properties that house more than 1 million residents. With offices in 16 states, WNC has partnered with more than 400 developers and 125 institutional investors. To learn more, visit: https://www.wncinc.com/.

About Pedcor Companies
Pedcor Companies is a full-service development, construction, property management, banking and finance team committed to creating stable, inclusive, and quality rental housing across the nation. We are cultivating thriving communities. To learn more, visit: https://www.pedcorcompanies.com/

MEDIA CONTACT:
IDEA HALL
Andy Vernier
andy@ideahall.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/282ca8c0-6c6c-464f-a8cb-d801c36bd316