Jul 1, 2016
Foreign investors raise funds for high-rise condos
HOUSTON - Developer Randall Davis and Roberto Contreras, president and CEO of Houston-based DC Partners, are breaking ground on the Marlowe, a downtown luxury condo tower.The Marlowe is utilizing EB-5,...
HOUSTON – Developer Randall Davis and Roberto Contreras, president and CEO of Houston-based DC Partners, are breaking ground on the Marlowe, a downtown luxury condo tower.
The Marlowe is utilizing EB-5, a federal program that allows foreign investors to invest money in U.S. projects and create jobs in exchange for a Green Card.
DC Partners applied and become a so-called “regional center” for EB-5 investors in Houston.
The project also was approved for the Downtown Living Initiative, which awards tax breaks to residential developers building in downtown Houston.
The Marlowe was planned as a 20-story, 100-unit condominium tower on about 0.3 acres at 1311 Polk St., across the street from the House of Blues and a couple of blocks from the Toyota Center and Discovery Green park.
The one- and two-bedroom units average 1,200 sf.
Did you like this NewsTalk?
You might also like
PUBLISHED SINCE 1977
TG Magazine
Check out the latest issue of our flagship publication.