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PMRG Finalizes Purchase Of 3300 Main From Midtown Redevelopment Authority


PMRG has (finally) closed on 3300 Main in Midtown. PMRG has had plans to turn the 1.2-acre plot into a mixed-use high-rise since 2014. A few months ago, demo permits were filed with the city to remove the vacant building once used for code enforcement operations. PMRG told the Houston Chronicle that construction on the project will begin "in the near term" but offered no other specifics. The tower will house 336 units, roughly 14k SF of retail and 521 parking spaces. The Midtown Redevelopment Authority saw a decent return; proceeds were listed as $6.6M, and it originally purchased the building from the city for $5M. [Chron]