Houston 'fleas' market to $41M Village at Palm CenterHouston 'fleas' market to $41M Village at Palm Centerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=22562014-12-08T12:08:00Z2014-12-08T11:00:00Z

HOUSTON - ITEX Group will soon start work on turning the former King's flea market into a $41 million mixed-use project, The Village at Palm Center. The project will feature about 222 housing units — 154 apartments and 68 townhomes — and 14,500 sf of retail space.

Located at 5330 Griggs Rd., the project received $15.3 million in federal funding from the Hurricane Ike Disaster Recovery Program, which is meant to spur the creation of affordable housing for low- to moderate-income individuals affected by the hurricane.

Most of the apartments will be affordable housing for low- and moderate-income renters, but a portion will be priced at market rents. The retail space will be located on a portion of the ground floor of the apartment complex.

Amenities will include a promenade, pools, playgrounds, gazebos, a splash pad, barbecue pits and picnic tables. The center of the project will be a 4,000-sf community building with a computer lab, a gym, meeting areas, a coffee bar and a daycare center.

Parking will be supplemented with a parking garage for apartment residents and individual garages for townhome tenants.

Port Arthur-based ITEX builds and manages affordable apartment complexes and rental housing. The Palm Center complex will be its first Houston development.

Read more at the Houston Chronicle and Commercial Property Executive.
Texas real estate news

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Houston-The Woodlands-Sugar Land
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