WHAT'S HAPPENING in Downtown Houston over the next five years is arguably the greatest shift to its urban core since the city began its renewal back in the mid 1990’s. This change can be attributed to the city’s focus on growing its Downtown residential population. Currently, there are approximately 3,600 residents within the Downtown District’s boundaries (and 55,000 within greater Downtown) but with the success of the city’s Downtown Living Initiative – a program which awards $15,000 per unit in tax rebates to developers who create homes or multifamily projects – that number will triple over the next few years. As of February, the Downtown District reports a total of 17 residential projects that are under construction or in the planning to date.
The types of residents attracted to downtown living are young urban professionals working downtown, empty nesters, reverse commuters and, yes, even small families. A variety of living options are also available from penthouse apartments to cool and funky lofts-- and at all price points.