High watermark buy for Heights waterworks

​​​​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.​