Sovereign at the Ballpark is a 229-unit multifamily building located downtown at 101 Crawford St.
HOUSTON—Aligning with the demand for multifamily development due in part by Downtown Living Initiative incentives, ACRES Capital Corp. and its subsidiaries have originated a $49 million construction loan to fund the completion of Sovereign at the Ballpark. The 229-unit multifamily building is located downtown at 101 Crawford St.
"As the second-most populated metropolitan statistical area in the state of Texas and the energy capital of the world, Houston has expanded its economic base with growth in the international business, information systems technology and service-related industries," said Mark Fogel, ACRES president and chief executive officer. "Downtown Houston has seen a substantial increase in multifamily development due in part to incentives provided by the city's Downtown Living Initiative, as well as the progression of its retail sector. This has created an ideal environment for new investments such as Sovereign at the Ballpark, which is perfectly positioned to accommodate the surge in demand from an assortment of residents."
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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.
