Related California won't have to pay $6.5M in fees if the deal is approved.
The development will include retail and green space in addition to residences.
About 30 downtown office buildings will be included in the study.
The MetroCenter redevelopment project has 17 acres and 23.7M SF up for grabs.
Panelists at Bisnow Houston's Urban Core event stressed the importance of working with the community when developing the historical wards of the city.
City Council Member Tiffany Cabán said she would vote in favor of a project bringing deeply affordable housing to a former industrial area in her district.
Face rent, which does not take concessions into account, hit a median of $4,009 in Manhattan in October
The Durst Organization has stopped work at its multifamily development on the Delaware River waterfront, citing construction costs and market conditions.
High rents and incentives from municipal governments are luring developers to Long Island as the region tries to diversify its housing stocks.
The prolific developer talks about how to grow as an upstart developer and how to break the logjam that is keeping New York's housing supply at crisis levels.
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