The complicated transaction that allowed the city to sell the 10.52-acre brownfield site along Allen Parkway between the Federal Reserve building and Allen Parkway Village to an apartment developer was concluded in late April, the Houston Business Journal‘s Paul Takahashi reports. Alliance Residential paid $39.9 million for the property along Gillette St., where the city began operating a solid waste incinerator in the 1920s and later converted the site for use as its fleet maintenance facility. The company immediately sold the northern 6 acres to an unnamed private investor; Alliance now plans to build a 365-unit apartment complex on the southern half of the property, fronting Gillette and West Dallas St.
Remediation concerns centered on groundwater and soil contamination stemming from its use to store and then burn garbage, the underground fuel storage tanks installed later, and debris used to fill a former gully that flowed from the southern portion of the site directly north to Buffalo Bayou on the opposite side of Allen Pkwy. The northern portion of the site was formerly a city park. An HPD SWAT team substation fronted West Dallas on its southern border.
The 4-story Broadstone Tinsley Park Apartments will wrap around a central garage, and include hardwood floors, a pool, and a dog park. A new traffic light and crosswalk at Gillette St. are included in the city’s plans to redo Allen Pkwy. Alliance says it plans to begin construction by the end of the summer; the apartments are expected to be complete in 2 years.
- Plans revealed for new luxury apartments near Houston’s Buffalo Bayou Park [Houston Business Journal]
- City sells prime piece of real estate near Buffalo Bayou to Phoenix multifamily developer [Houston Business Journal]
- Municipal Setting Designations (PDF) [Public Works]
- Previously on Swamplot: Comment of the Day: A Brief Annotated History of Allen Parkway Village’s Dirty Neighbor; City Selling Off Land, Streets, and a Park on Allen Parkway
Renderings: Alliance Residential. Map: Terracon