{"id":1004095271,"date":"2014-04-23T17:02:21","date_gmt":"2014-04-24T01:02:21","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=256736"},"modified":"2022-03-04T11:57:10","modified_gmt":"2022-03-04T19:57:10","slug":"marquette-cos-to-break-ground-on-364-unit-m-f-project-in-downtown-houston","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/marquette-cos-to-break-ground-on-364-unit-m-f-project-in-downtown-houston\/","title":{"rendered":"Marquette Cos. to Break Ground on 364-Unit M-F Project in Downtown Houston"},"content":{"rendered":"

By Amalia Otet, Associate Editor<\/em><\/p>\n

Naperville, Ill.-based The Marquette Cos.\"\"<\/a> plans to break ground on Block 52, a 364-unit apartment building in downtown Houston.<\/span><\/p>\n

The property encompasses a city block on the northeast side of the Houston CBD and is situated one block from Minute Maid Park.<\/p>\n

Among the many premier features, the 29-story structure will showcase two amenity floors including a full-size, resort-style rooftop pool; it will also sport a 589-space private parking garage and approximately 7,700 square feet of ground-floor retail\/restaurant space.<\/p>\n

Apartment units will range from approximately 600 to 1,800 square feet in size, with rental rates ranging from $2.70 to $2.80 per square foot, as reported by the Houston Business Journal<\/a><\/em>.<\/p>\n

The multifamily project is expected to be complete in summer 2015.<\/p>\n

Marquette is utilizing the Downtown Living Initiative (Chapter 380) for the development of the high-rise complex and will reportedly receive a $5.5 million benefit from the grant.<\/p>\n

In an effort to drive more residential momentum in downtown Houston, the city council recently approved the expansion of the Downtown Living Initiative (DLI) from a cap of 2,500 residential units to 5,000 units by June 30, 2016. This will add 7,500 new residents to downtown, bringing the total to a little over 11,000, according to Downtown Houston<\/a>.<\/p>\n

The DLI is a program that incorporates financial and other benefits to promote the development of mixed-use residential projects. The initiative requires developers to comply with essential guidelines that aid in creating supportive urban designs, with residential streets featuring trees, enhanced lighting, active ground-floor uses and appropriate sidewalk design.<\/p>\n

DLI’s first project, SkyHouse Houston, is set to open this summer at 1625 Main St. A joint venture of Batson-Cook Development Co., Peter W. Dienna and Simpson Housing, the 24-story luxury high-rise will include a mix of studio, one- and two-bedroom apartment homes with high-end finishes and amenities.<\/p>\n

Rendering of Block 52 in Houston via The Marquette Cos. official website<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Naperville, Ill.-based The Marquette Companies plans to break ground on Block 52, a 364-unit apartment building in downtown Houston.<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1589,21742],"tags":[1815],"class_list":["post-1004095271","post","type-post","status-publish","format-standard","hentry","category-houston","category-latest","tag-national"],"acf":[],"yoast_head":"\nMarquette Cos. to Break Ground on 364-Unit M-F Project in Downtown Houston - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/marquette-cos-to-break-ground-on-364-unit-m-f-project-in-downtown-houston\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marquette Cos. to Break Ground on 364-Unit M-F Project in Downtown Houston\" \/>\n<meta property=\"og:description\" content=\"Naperville, Ill.-based The Marquette Companies plans to break ground on Block 52, a 364-unit apartment building in downtown Houston.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/marquette-cos-to-break-ground-on-364-unit-m-f-project-in-downtown-houston\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-04-24T01:02:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-04T19:57:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/04\/Block-52-via-The-Marquette-Companies.jpg\" \/>\n<meta name=\"author\" content=\"Amalia Otet\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/marquette-cos-to-break-ground-on-364-unit-m-f-project-in-downtown-houston\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/marquette-cos-to-break-ground-on-364-unit-m-f-project-in-downtown-houston\/\",\"name\":\"Marquette Cos. to Break Ground on 364-Unit M-F Project in Downtown Houston - 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