Beyoncé Knowles, also known as that girl, has dominated the music industry for more than two decades. Now the 32-time Grammy award winner is taking on the Houston housing market, Chron reported.
Knowles, along with Kelly Rowland, a four-time Grammy award winner and an original member of Destiny’s Child, is collaborating with Harris County and the nonprofit organization Bread of Life to convert a gymnasium into housing in Midtown, a neighborhood of Houston where the county is combating rampant homelessness, Chron reported. County leaders announced last week that the project will launch in October at an estimated cost of $8.4 million, 85.7% of which is slated to come from the American Rescue Plan.
In addition to securing the support of Knowles and Rowland — who are both Harris County and Houston natives — developers will employ case managers, peer and service specialists, as well as provide transportation, health, and well-being services to the complex’s residents, Chron’s writer Kennedy Sessions found. It was unclear if Knowles and Rowland are investing in the project.
Many Hollywood stars have made housing their side hustle.However, Knowles and Rowland are among the few that have taken their real estate interests beyond the glitz and glamor of purchasing luxurious homes. Along with celebrities like NBA superstars LeBron James and Shaquille O’Neal, as well as Golden Globe and Grammy award winner Queen Latifah, they’re taking a more social tack with their housing efforts.
Harris County judge Lina Hidalgo, a member of President Joe Biden’s reelection advisory board, said in a press conference that it was “especially interesting” that Knowles and Rowland are getting behind the project, which she said will help Houston combat homelessness. The city has already reduced homelessness by 20% in conjunction with the Coalition for the Homeless, she said.
After decades of robust economic growth, Houston has seen a dramatic surge in its population, especially during the pandemic. With more buyers moving into the area, home prices and rents have spiked as residents compete for housing. The cocktail has led to more Houstonians becoming priced out of the market or housing-insecure.
According to a 2021 study from the US Census Bureau, about half of renters — who are a majority of Houston’s residents — spend more than 30% of their income on housing costs, above what experts recommend spending on housing, the Texas Tribune reported. Many of these renters also face significant difficulty in affording other aspects of life such as food, clothing, transportation, and health care.Houston Pastor and executive director of Bread of Life Rudy Rasmus told Chron that the housing projects in the area have been relatively few, at just five over the last 17 years. Given that statistic, he said he’s “grateful” for the Knowles and Rowland project.
Source: businessinside
In other news- Electricity Minister: Energy-short South Africa will survive winter
South Africa, which has experienced crippling electricity outages in recent months, will “survive” this winter season thanks to a huge improvement in generation, a cabinet minister said on Saturday.
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