HOUSTON—There are situations when a developer requires an abatement to remain, expand, locate or redevelop in Houston. This type of project may result in strengthening of the local job and economic market as a result of the developer's presence, especially if it is located in a declining part of Houston.
Such an investment could provide affordable housing, rejuvenate a blighted area or reduce poverty. In other words, a project that serves the public good would fall into that category.
What types of project costs qualify for an abatement? Some examples include when a developer-owner improves its building or equipment or improves/modernizes its site. Moreover, if a property is deteriorated or demolished, it would qualify under section 44-132 of ordinance 2014-0245, GlobeSt.com learns.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
