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Alliance Residential Buys Inner Loop Tract

Alliance Residential Buys Inner Loop Tract

Alliance Residential (JV'ing with the Carlyle Group) announced plans to build Broadstone Tinsley Park, a 365-unit multifamily community near Eleanor Tinsley Park. It plans to break ground this summer and deliver in 2017, the Houston Business Journal reports. Alliance purchased 10.5 acres just south of Allen Parkway from the City of Houston and immediately sold six acres to an undisclosed private investor. The site acquisition cost nearly $40M and took a year to work through environmental remediation. [HBJ]