Houston Buys Land For Downtown Park
Real Estate Center Online
10/25/04
HOUSTON, Texas (HoustonChronicle.com) - The City of Houston has signed a contract to buy 5.3 acres near the George R. Brown Convention Center from Crescent Real Estate Equities Company. The city plans to consolidate this purchase with land it bought from Crescent in 2002 and more that it plans to acquire. The end result will be a 13-acre park, the largest park downtown. Houston Mayor Bill White said he expects the park will cause "an explosion of growth around the periphery of the park" in east downtown.
Downtown Area MapPrivate donors will provide 18 percent of the estimated $80 million cost of the park. The city's contribution would come from hotel and entertainment tax revenues. The park will be designed in 2005, built in 2006 and opened in 2007.