Participating in a national trend, more and more people are choosing to live in downtown or in the immediate downtown area. While 1,200 and 1,400 people lived in downtown in 1980 and 1990 (respectively), almost 3,700 people now live in downtown.
Provide here is a list of downtown residential developments including name, address, number of units and estimated number of residents, as well as a map identifying residential developments.
Demand for downtown residential units is demonstrated in an October 2003 Residential Demand Study. Increased residential demand is also anticipated in the Downtown Development Framework dated October 2004.
The latest residential announcement was made in July 2005: LandCo purchased the block between LaBranch, Crawford, Rusk and Walker near the George R. Brown Convention Center and the 12-acre park which will open in 2007. LandCo plans to build begin construction on a 300-unit high-rise residential tower in three years.
The type of residents attracted to downtown living tend to be young urban professionals working downtown, empty nesters, and reverse commuters. Residential units -- lofts, condos, apartments -- tend to be in the mid to upper income level range. On a per square foot basis, housing prices are within $180 to $270 per square foot at the lower to mid-rise levels. Rents generally vary from $1.00 to $2.00 per square foot per month.
Additional information:
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