Update: 9 residential projects under construction in downtown Houston
“Efforts from the Downtown Living Initiative are starting to bear fruit in downtown Houston.
The third residential project spurred by the tax incentive project has opened in the Central Business District, according to Central Houston’s second-quarter report. The Houston-based nonprofit organization tracks the progress of residential and commercial projects in downtown Houston.
Alliance Residential opened Block 334, a five-story 207-unit luxury apartment at 1515 Main Street in June 2016. The Scottsdale, Arizona-based multifamily developer took advantage of the city of Houston’s Downtown Living Initiative, which has sparked a new wave of residential development in downtown. The initiative offers $15,000 per unit in tax breaks to developers building multifamily projects downtown. The program reached its 5,000-unit cap last year.”
To read the entire article, visit Houston Business Journal.