HOUSTON (globest.com) – Three downtown city blocks on Main, Caroline and Polk streets are proposed sites for a $200 million, 360,000-square-foot development. Partners William Denton and Geoffrey Jones envision the proposed Houston Pavilions to have upscale retail, entertainment, condominiums and office space. Because downtown land is pricey and development costs are high, a tax increment reinvestment zone (TIRZ) was needed to help make the project a reality. The commissioner’s court, the TIRZ’s board of directors and the city council have all approved the TIRZ creation. The next step will be for the city and developers to enter into a formal agreement.
The Houston Pavilions are projected to be similar to Entertainment Development’s 350,000-square-foot Denver Pavilions, which opened in 1998.
http://www.HoustonProperties.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment