Houston reaches for the Sky(House)Houston reaches for the Sky(House)https://www.recenter.tamu.edu/news/newstalk-texas/?Item=79622013-03-12T08:08:00Z2013-03-12T07:59:00Z

HOUSTON - The $67 million SkyHouse Houston, a 24-story, 336-unit high-rise apartment community will soon be underway.

The project at 1625 Main is expected to create 500 construction jobs and draw more than 400 residents to the Central Business District.

Simpson Housing LLP, Atlanta-based Novare Group and Batson-Cook Development Co. and Houston-based developer Peter W. Dienna plan to break ground in April. The joint venture is the first to take advantage of Houston's downtown residential incentive program,

The joint venture not only became the first to use the tax payer-based incentive program, but also the first to take advantage of the program’s new borders.

The City of Houston awarded SkyHouse Houston a tax abatement of $15,000 per apartment unit, subsidizing the more expensive high-rise construction costs necessary on the small city blocks and representing a substantial incentive to drive new development in the submarket.

Houston Business Journal
Houston-The Woodlands-Sugar Land
http://www.bizjournals.com/houston/blog/breaking-ground/2013/03/development-team-to-break-ground-on.htmlRead more at {Source}

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