Husband and wife team behind new affordable development Grand Park Square in SE Houston

HOUSTON, Texas (KTRK) -- The city of Houston is dealing with a housing affordability crisis. The average price for a single-family home is 32% more expensive right now than it was last year.

A husband and wife team is bringing investment in the form of new, affordable homes to an older community inside the Loop. On top of that, they said they're doing it without displacing people who have lived there for decades.

"The perception of this area is it was bad. It was a war zone," Kevan Shelton said.

That reputation is under construction. Shelton, the co-founder of Park Street Homes, grew up in the South Union neighborhood. He said he's building the community he wants to see.

"The only way to turn something bad into something good is to do something. So, we decided to do something," Kevan said.

He and his wife Ayesha created Grand Park Square. Phase one features 16 market-rate homes. Beginning this fall, phase two will incorporate affordable housing.

"Housing prices are astronomical. To be able to bring a product to the community that is affordable and convenient to all of the local amenities in the city of Houston, I think, is a game changer," Ayesha said.

Their company is partnering with organizations like Houston Land Bank and Midtown Redevelopment to get land at a discount. That helps offset the cost of construction and allows them to sell new homes inside the Loop starting around the low to mid $200,000.

The Sheltons said their approach to redevelopment will also protect people living in older homes.

"We believe in development without displacement. All the land we are developing on, there were no houses here. It was desolate land. So, we are taking the raw, unfinished lots where no infrastructure was put in, and we are building housing there versus tearing down existing homes," Kevan said.

"We are of the community. We are from the community. We host events that benefit the community, and we partner with community organizations," Ayesha said. "So, this is not come into the neighborhood and extract the value. This is a coming into the neighborhood and adding value to it and also adding value to the people that are already living here."

Grand Park Square is located off of the Loop 610 and Cullen Boulevard.

For updates on this story, follow Briana Conner on Facebook, Twitter and Instagram.