South Acres Ranch cut the ribbon on 81 new single family rental homes in southeast Houston. The community provides reduced rent four-bedroom homes for families who otherwise might not be able to afford more than a small apartment.
Its developers also say it provides a sense of ownership and helps the surrounding area.
"When you talk about helping a community with an absolutely awesome event and foundation such as this for this community what more can you say?" said Annella Metoye with Capital One Bank.
The rent is based on income and ranges from a little more than $400 a month to the market rate of $1,200.