A company headed by Jim Crane, owner of the Houston Astros, obtained an $18.72 million construction loan for a hotel project in West Palm Beach.
The Woodlands-based Woodforest National Bank awarded the loan to Houston-based WPB Dugout Hotel LLC, managed by Crane. It covers the 0.72-acre site at 1675 Palm Beach Lakes Boulevard. HFF worked on behalf of the borrowers to secure the loan.
Westmont Hospitality Group will manage the hotel, which is expected to open mid-year 2018, according to a statement.…
A district court judge on Monday signed an emergency temporary restraining order preventing the embattled Montrose Management District from issuing, collecting or spending assessments from commercial property owners in the Houston neighborhood.
An attorney representing property owners in two lawsuits against the district filed the order after learning it was planning to hold a board meeting Monday to discuss assessments and other matters.
The Montrose Management District is one of dozens in the Houston area created by the Legislature to promote economic development and make improvements to public areas in individual neighborhoods. Commercial property owners help pay for the improvements through assessments.
Capital Retail Properties and Wile Interests have teamed up to transform 1.7 acres along North Shepherd Drive, south of 16th Street, into a 30,000-square-foot lifestyle center that will bring services and restaurants to a rapidly changing area of the Houston Heights.
Houston Independent School District announced Dec. 11 that a plan has been proposed to completely rebuild four elementary schools that sustained the most damage from Hurricane Harvey.
HISD’s board of education will consider the plan at its regular monthly meeting on Dec. 14, according to a press release. The plan is expected to cost $126 million — $30 million for each campus, plus a $6 million construction contingency — and would be funded by a combination of HISD’s operations reserves and…