Developers have unveiled more details about a $500 million mixed-use project planned near Buffalo Bayou Park.
Tianqing Real Estate Development LLC — the U.S. subsidiary of Tianqing Group Real Estate Co. Ltd., one of the largest real estate developers in China — has partnered with Houston-based DC Partners to develop the massive project, which would rise on 6 acres at the southeast corner of Allen Parkway and Gillette Street. The joint venture purchased the property from HTX Real Estate Partners in May for an undisclosed price.
Plans for the mixed-use project are still in the works, said Acho Azuike, COO and managing director of DC Partners, a local real estate investment and development firm that specializes in foreign investors.
The joint partnership is meeting with several architects, including Gensler, Powers Brown Architecture and HOK, to develop a master plan for the project. However, Azuike outlined preliminary plans for the unnamed mixed-use project:
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