- Funding Needed
- $48 (Mio)
- EB5 Funding
- $12 (Mio)
- EB-5 Investors
- 24
- Investment Amount
- $500,000
- Job Creation per Investor
- 13.3
- Job Creation (Total)
- 319
- Category
- Construction
- Sub-Category
- New Multifamily Housing Construction (except For-Sale Builders)
- State
- Texas
- Location
- Downtown Houston, Texas
0 followers
- Last Update: February 04, 2015 01:01 PM
Funding
Jobs
Location
Your Project was viewed 24 times (totally).
For the last 7 days 0 times.
Block 384 Downtown
- Developer Name
- Allied Realty
Project Description
The project will consist of approximately 240 units in an 8-story building. The plan comprises 3 floors of parking with 5 floors of residential units above. The project site is an entire Downtown Houston city block, Block 384, consisting of 62,500 square feet, or 1.4348 acres. The project is being developed in partnership with Allied Realty, a Houston based multifamily developer founded in 1985. Downtown Houston has implemented a tax incentive program to encourage residential development of the Downtown area of Houston. The project is eligible for the program and has been approved by the Downtown Living Initiative board. The program will provide reimbursement of 75% of the increase in property tax revenue associated with the development up to $15,000 a unit.
The site is located in Downtown Houston near the northwest intersection of I-45 & Hwy 59. The site is within close proximity to the Toyota Center, BBVA Compass Stadium, Minute Maid Park, Theater District and all of the downtown entertainment and hospitality venues. The Downtown area is undergoing substantial new development due to the job and population growth within the urban core. The project will beproximate to the 50 - story Chevron tower scheduled to open in late 2016which is estimated to add 1,700 jobs within a half mile of the site.
Securities Disclaimer
This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.
