Property Type

HOUSTON — Construction is under way on The Sovereign, a 21-story, 290-unit multifamily development located on the old Allen House Apartments site off Allen Parkway in Houston. The development is the first phase of Regent Square, a mixed-use development. Ziegler Cooper Architects designed The Sovereign to achieve LEED Silver certification with an efficient HVAC system, pedestrian-oriented street design, bicycle parking, usage of condenser water for irrigation, green and reflective roofs, low-energy glass, electric car charging stations, trash chutes and a cardboard bundler. Amenities will include a clubhouse, fitness center, yoga room, demonstration kitchen, private dining rooms, screening room, game lounge, bar/sports lounge, resident herb and vegetable garden, Zen garden, pet spa, massage room, library, cyber lounge and a business center. The development will be reimbursed for improvements to the public infrastructure through a development agreement from the City of Houston and Tax Increment Zone 5. The Sovereign is slated for a March 2014 completion.

HARRAH, SHAWNEE AND OKLAHOMA CITY, OKLA. — Boston Capital has invested in the construction of three affordable housing developments in Oklahoma. The properties include the 29-unit Cedar Hollow in Harrah, the 32-unit Cottage Park-Shawnee in Shawnee and the 44-unit Cross Creek Landing in Oklahoma City. The developments will be built with tax credit equity from the Low Income Housing Tax Credit program. Oklahoma City-based The Carland Group partnered with Boston Capital on the construction investment, which is expected to generate $10.2 million in local income and create approximately 155 jobs.