220-Unit apartment underway in downtown Houston

HOUSTON – Leon Capital Group has broken ground on a five-story, 220-unit apartment building on city block 365, which is bounded by Austin, Caroline, Jefferson and Pease Streets.

The unnamed Class A project is expected to be completed in late 2016, according to Central Houston’s quarterly downtown real estate report.

Leon Capital’s project was approved for the City of Houston’s Downtown Living Initiative, which offers developers $15,000 in tax breaks for each unit built in a multifamily complex built downtown.

Since launched, nine apartment projects have broken ground, with nine more planned for downtown Houston. These 18 projects will add 4,408 new multifamily units downtown.