The purpose of the Downtown Living Initiative is to promote economic development and stimulate business and commercial activity in the combined target area by providing economic and other development incentives for certain new multifamily residential mixed-use developments. The target area comprising most of downtown offers exciting attractions and amenities including Discovery Green, Phoenicia Specialty Grocery, churches and schools (including the planned HISD High School for the Performing and Visual Arts), major hotels, three of the region’s four major sports venues and the George R. Brown Convention Center, ranked in the nation’s top twenty.
- A qualifying project in the Program will receive a reimbursement of the lesser of $15,000 per residential unit or equal to seventy-five percent (75%) of the incremental City of Houston property tax and the Houston Downtown Management District (HDMD) incremental assessment paid per unit over 15 years from the project’s completion.
- Program target area is exempt from the $700 per unit in lieu fee for open space land dedication requirements, per Houston Code of Ordinances, 42-251.
- Program cap is 5,000 units and closed June 30, 2016.