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High watermark buy for Heights waterworksHigh watermark buy for Heights waterworkshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=154952016-12-22T06:00:00Z2016-12-23T00:00:00Z

​​​​HOUSTON – The historic Heights waterworks site has been sold for $15.2 million at a price that was "way above the appraised fair market value," according to the Houston Chronicle.

Houston City Council approved the transaction Dec. 20​​.​

The four-acre site is expected to be redeveloped to include two midrise apartment buildings with garages and retail space, according to Phoenix-based Alliance Realty Partners LLC, the buyer.​​

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The properties—catty-corner lots along Nicholson at West 20th​ streets—include one of the city's early water pumping structures. The building at 449 W. 19th St. is a protected landmark.​

The historic waterworks includes a 1928 concrete and brick reservoir building recorded in the National Register of Historic Places; an Art Deco pumping station from 1939; and a pump building constructed in 1949.​

Houston Business Journal
Houston-The Woodlands-Sugar Land
Multifamily
http://www.bizjournals.com/houston/news/2016/12/21/historic-heights-property-sold-to-phoenix-based.html

​ Check out Houston area Multifamily Market Research​ for quarterly reports at your fingertips.

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