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.
Fourth Ward
