Adaptive reuse development in Midtown Houston features 31 permanent supportive housing units for individuals experiencing chronic homelessness
HOUSTON - (OCT. 14, 2026) — The AIC CEI-Boulos Opportunity Fund, a joint venture between CEI-Boulos Capital Management and Allivate Impact Capital®, celebrated the opening of Knowles-Rowland House yesterday with project developer Bread of Life, Inc., community leaders, and other partners and supporters. Located at 2019 Crawford Street in Midtown Houston, the adaptive reuse development, in which the fund made a majority equity investment, delivers 31 units of permanent supportive housing for Houston's most vulnerable residents.
The October 13 ribbon-cutting celebration brought together community leaders, elected officials, funding partners, and supporters, including Tina Knowles, Kelly Rowland, and Beyoncé Knowles-Carter, who made a surprise appearance. Houston Mayor John Whitmire, U.S. Congressman Christian Menefee, and Harris County Commissioner Rodney Ellis also attended.
The Knowles-Rowland House will help address chronic homelessness in Houston by expanding access to stable, service-enriched housing in a highly accessible urban neighborhood. The project demonstrates how impact-focused investment can help bring transformative housing solutions to market while generating meaningful social outcomes.
The three-story, 18,900-square-foot building transforms the former Knowles-Rowland Center for Youth into permanent supportive housing with 31 residential units.
All rents at Knowles-Rowland House are 100% subsidized through HUD's Project-Based Voucher program administered by Housing Alliance HTX (formerly the Houston Housing Authority). Temenos Community Development Corporation, Bread of Life, Inc.'s sister organization, will deliver comprehensive social services to residents including case management, mental health counseling, substance abuse treatment, life skills training, and nutrition assistance.
Located in Houston's walkable Midtown neighborhood near the METRO light rail system, the property offers residents convenient access to employment, education, health care, and other essential community resources.
The original structure was built in 1999 by Bread of Life, Inc. with support from Tina Knowles, Beyoncé Knowles Carter, Kelly Rowland and Mathew Knowles. Before a fire in March 2021, the center served as a youth summer camp, senior community center, and overnight shelter for people experiencing homelessness. The redeveloped property continues that mission by providing safe, stable housing and supportive services for vulnerable Houstonians.
Permanent supportive housing has been a key component of Houston's nationally recognized approach to addressing homelessness. Residents can remain housed for as long as needed, with ongoing supportive services that help them maintain housing stability. Research shows that most residents of permanent supportive housing remain stably housed rather than returning to homelessness.
“Knowles-Rowland House demonstrates how mission-focused investment capital can help address some of our communities' most pressing challenges,” said Sam Spencer, CEO and Managing Director of CEI-Boulos Capital Management. “By combining permanent supportive housing with comprehensive social services, this project will provide stability and dignity for people who have experienced chronic homelessness. We are proud to partner with Bread of Life, Temenos CDC, and Allivate Impact Capital to help bring this remarkable project to life.”
Noelle St.Clair Lentz, CEO, Allivate Impact Capital, added: “This project shows what can happen when mission-driven organizations and purpose-driven capital come together around a shared vision. Knowles-Rowland House represents more than a housing development. It is a foundation for stability, a source of hope, and an opportunity for individuals to rebuild their lives with dignity and support. At Allivate, we are proud to invest in solutions that elevate communities, alleviate poverty, and create lasting pathways to opportunity.”
Partners of the development include:
AIC CEI-Boulos Opportunity Fund, a joint venture between CEI-Boulos Capital Management and Allivate Impact Capital
American Rescue Plan Act (ARPA) funds from the Harris County Housing Finance Corporation
B1 Bank
Rice Management Company
Federal Home Loan Bank of Dallas via Home Bank
“For nearly 35 years, Bread of Life, Inc. has focused on making life better for Houstonians living on the edge,” said Pastor Rudy Rasmus, who founded the organization with his wife and fellow Pastor Juanita Rasmus. “The opening of Knowles-Rowland House is the culmination of years of hard work and welcome participation by so many people who ensured this project came to fruition. We could not have done this without our key funding partners, including CEI-Boulos and Allivate Impact Capital.”
Tina Knowles told attendees, “I have these beautiful young women who have hearts and empathy, and they give and they work and do things to give back to the community. I have this place to thank for that because God always gives you what you need at the time you need it and I needed a place to teach that. I'm so full because this is full circle. Juanita and Rudy are the biggest visionaries I've seen in my life. Nothing is too big of a vision for them. Look what they've done, and look what they've accomplished.”
Beyoncé Knowles-Carter shared, “I have so many memories here, and I want to thank Juanita and Rudy because your prayers have held us up. This church was our foundation. I was baptized right here. I made the choice on my own to be baptized because I felt the spirit here, and I feel the spirit right now. And I'm so grateful for that foundation.”
About Bread of Life, Inc.
Bread of Life, Inc. is a Houston-based nonprofit organization founded by Pastors Juanita and Rudy Rasmus in 1992 helping underserved individuals and families across the Houston region. Through programs focused on health access, housing, and hunger relief, the organization helps vulnerable Houstonians achieve greater stability and self-sufficiency. Bread of Life also supports communities through disaster preparation, relief, and recovery. Learn more at www.breadoflifeinc.org and LinkedIn.
About Temenos CDC
Temenos Community Development Corporation was founded following the devastation and loss caused by Hurricane Katrina. Their mission is to provide affordable housing opportunities, supportive services, and employment resources to low- to extremely low-income persons on their journey to wholeness. www.temenoscdc.org
About CEI-Boulos Capital Management
CEI-Boulos Capital Management is a real estate investment fund management company focused on delivering both competitive financial returns and social impact. The company serves banks, family offices, and other institutional investors, and has a national scope. Areas of the company's specialization include Opportunity Zones and the Community Reinvestment Act (CRA). Learn more at www.ceiboulos.com.
About Allivate Impact Capital®
Allivate Impact Capital is an impact investing firm with a mission of using innovative capital solutions to elevate communities, alleviate poverty, and activate entrepreneurial ecosystems. As a subsidiary of Woodforest Financial Group, Allivate leverages an award-winning Community Development Team to deliver attractive risk-adjusted returns from investments while delivering measurable positive social impact. Learn more at allivate.com and follow us on LinkedIn®.
View the full livestream of the event published on the Bread of Life Inc. YouTube.
Photo credits: Jaylon Gregory, Harris County Housing & Community Development and Ross Folkenroth, Allivate Impact Capital