LUBBOCK – Kansas City, Mo.-based MRE Capital and Austin-based Structure Development are redeveloping the iconic NTS Tower into an 89-unit residential tower.
Efficiency and one-, and two-bedroom lofts will take up 14 floors in the middle of the building. The first three floors will be dedicated to commercial amenities and server living space. The roof will continue to be used for communication equipment.
Fourteen residences will be leased at market rates, while the rest will be available at reduced rates to working households.
Built in 1955, the 274-ft tower is the tallest structure in the city.
The Texas Department of Housing and Community Affairs awarded MRE Capital tax credits for the project, which will cost over $20 million.
Work will begin this fall and wrap up by fourth quarter 2021.
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Source: KCBD TV
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