Houston, TX

• 1711 Caroline is a 6-story podium project built across a full city block in downtown Houston, TX.

• Leon Multifamily obtained tax incentives from the Downtown Living Initiative Chapter 380 Program, which was designed to promote economic development in the east side of downtown. The initiative provided a discount to the City of Houston property taxes over a 15-year period.

• Working though a significant downturn in the Houston oil market, 1711 Caroline was able to achieve a leasing velocity matching initial underwrite.

• 1711 Caroline was sold in September 2016.

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