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About Tirz 15

WHAT IS A TIRZ?

Tax Increment Reinvestment Zones (TIRZs) are special zones created by City Council to attract new investment in an area. These zones help finance costs of redevelopment and promote growth in areas that would otherwise not attract sufficient market development in a timely manner. Taxes attributable to new improvements (tax increments) are set-aside in a fund to finance public improvements within the boundaries of the zone.
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WHAT IS TIRZ 15?

The creation of TIRZ 15 was passed and approved by the city of Houston, TX on July of 1999. View Document.

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The purpose of the Zone is to set forth goals, expectations, and redevelopment plans and programs necessary to create and support an environment attractive to private investment; and to ensure that the improvements will result in the long-term stability and viability of the area. Find out more.

DEVELOPMENT GOALS FOR TIRZ 15 ARE:

Infrastructure improvements. Public roadways and public utilities systems are required to create an environment that will stimulate private investment in retail, residential, commercial, and mixed-use developments. Reconstruction of utility systems will be taken to improve functionality and replace aged facilities. All roadway improvements will be integrated with street reconstruction projects of the City of Houston, METRO, TxDOT, and other public entities, and where possible include elements not included in those programs.

Pedestrian-friendly environments with ample lighting and streetscape amenities. Streetscape enhancements are required to create an environment that will help stimulate investment in retail, residential, and commercial developments. Enhanced streetscape components include sidewalks, lighting, signage, street trees, landscaping, benches and other pedestrian amenities. The reconstruction of key streets and major thoroughfares will enhance the level of service in the area. The construction of sidewalk systems including ADA compliant ramps and other treatments will improve pedestrian safety, enhance the visual environment and provide connectivity both within the community and to adjacent districts.

Parks and related amenities. The development of public green space through land acquisition, the dedication of public easements, dedicated parking, and the construction of enhancements. All improvements will be integrated with adjacent land uses and provided with upgrades focused on connectivity, pedestrian safety, and the visual environment.

The reinforcement of pedestrian-attractive retail developments. The retention and expansion of the retail and commercial developments in the East Downtown area including the Bastrop, Saint Emanuel, Dowling, Hutchins, Texas and Chartres corridors is of key importance to the successful redevelopment of the area. The provision of base level retail functionality is essential to the continued expansion of mixed-use residential projects in the area. In particular, it is envisioned to assist in the development of primary commercial and retail corridors through the implementation of an enhanced pedestrian environment with an emphasis on parking, landscaping, wide sidewalks, public art and adequate pedestrian amenities.

Complementing revitalization activities proposed to occur along future/proposed METRO mass transit alignments within the boundaries of the TIRZ. METRO funding of public transit systems can be complimented by TIRZ activities including the funding of alignment improvements, upgrades, right-of-way acquisition, and provisions for public art. Future METRO stations with the boundaries of the TIRZ could spur redevelopment while benefiting existing businesses. The METRO Solutions Southeast and East End alignments will include station locations within the boundaries of the TIRZ. The TIRZ will look for specific key economic development opportunities and capitalize on METRO’s revitalization of key corridors included in the TIRZ.

Economic Development. In cases where improving public infrastructure alone is insufficient or inadequate to stimulate private investment and economic development, the TIRZ would seek to fund an economic development program that would directly incentivize private enterprise that affects the TIRZ and serve as a catalyst for other business developments. Examples of how the program would be used including funding for business development and retention, business loss mitigation in cases where large public construction projects disrupt access to and operation of businesses, economic development grants to catalyze investments, and matching grants to provide leverage for other economic development funds, such as state enterprise projects, state economic development bank funds and new market tax credit allocations. An appropriate economic development program would be created by the TIRZ and subject to City approval.

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Affordable Housing. The TIRZ projects it will fund Affordable Housing initiatives inside and outside the Zone. The Affordable Housing projects could include a supportive housing program designed to develop supportive housing and services that allow homeless persons to live as independently as possible. Emphasis could be placed on supportive services needed to assist homeless persons in the transition from homelessness to self-

TIRZ 15 DESIGN GUIDELINES

This document contains suggested development guidelines for public improvements and is intended to provide urban design and materials to be used as reference for developers/consultants operating or planning to redevelop within TIRZ 15. The intended GOAL of this publication is to convey the quality and resultant ambiance to private developers as well as professionals engaged in planning and design within or adjacent to the public ROW. Professionals with commissions in the area are encouraged to reinforce the existing character as well as design diversity of the area fabric and to echo in the design of new and/or renovated existing structures, when possible.

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Accountability

BUDGET, ORDINANCES AND OTHER DOCUMENTS

MAPS & BOUNDARIES

DEMOGRAPHICS

Meetings

Meetings of the Board of Directors for the East Downtown Management District are held on the 3rd Monday at 12:00 PM in February, April, June, September, October, and the 2nd Monday at 12:00 PM in December.

On occasion, the date or time of a board meeting may change, or special meetings may take place as necessary. Agendas are posted at City Hall. If you would like to receive notice of TIRZ meetings, please utilize the Contact the TIRZ form below.

Past Public Meetings:

Projects

UPCOMING

ACTIVE

• Phase 1 (Underway)

Contact Us

Relevant Links

A development company is planning to construct Houston's first 'micro-unit' condominium in east downtown and is marketing its small living spaces and customizable amenities as an affordable option for young single adults wanting to live and work in the area.

As the millennial generation enters the workforce, land developers are attempting to determine where the demographic of adults between the ages of 20 and 37 want to work, live and play.

Novel Creative Development LLC is betting that its development, The Ivy Lofts, will appeal to that generation.

Plans for the 24-story condominium feature 550-units, the majority of which measure less than 500 square feet and will cost less than $200,000.

Located on a 1.4-acre city block, bounded by Leeland Avenue, Nagle Street, Pease Avenue and Live Oak Street, the project is to be completed sometime in 2018.

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First in Texas?

'It is an innovative project that could be a first in Texas, maybe in the country,' said Jeffrey Brown, principal designer with Powers Brown Architecture, the Houston-based firm Novel Creative hired to draft and plan the construction project.

At a glance

Novel Creative Development LLC purchased the site for The Ivy Lofts in November 2014. A Vietnamese grocery store once sat on the property. Novel Creative purchased the property in November 2014 for less than $3 million. To learn more about the project, visit www.theivylofts.com.

The Ivy Lofts will feature four loft floor plans. The smallest measures 300 square feet.

The next plan measures 450 square feet. Prices start at $119,000.

Brown said more traditional sized condos measure 600 and 700 square feet. Prices for the larger units start at $375,000.

Eight penthouse-style units also will be available.

Tables fold into floor

All units will feature convertible living spaces that Brown said were designed to make maximum use of the small spaces. Amenities include beds that fold up into walls, bookshelves that transform into chairs, coffee tables that turn into desks, and dining room tables that fold into the floor.

'We've designed a package of finishes and micro-furniture accoutrements that you can buy up in,' Brown said.

'You can have different levels of finishes and built-in furniture that help with space flexibility because the key to living in 450 square feet is all the space has to be used for multiple things.'

He said buying a condo in The Ivy Lofts is almost like buying a new car.

'Nowadays, people go to the website for BMW and they have a ton of pull-down menus and you pick what you want and you customize your car,' Brown said. 'It is sort of an extension of mass customization.'

The building features two towers and will offer a number of residential amenities such as a rooftop courtyard and dog park, fitness and yoga centers, rooftop pool, party and lounge areas and views of downtown, including the Toyota Center, Minute Maid Park and BBVA Compass Stadium.

A small business retail space will take up the first floor of the building. The parking area will be on the remaining eight floors.

'There is a fair amount of residential community space to make up for the fact that, really, the building and the city is the living room for the residents,' said Brown, who added that a lot of research on the project considered how much time millennials will spend in their homes.

'In terms of the average hours that this demographic will spend in a room is really low,' he said. 'It is amazing how much time they spend out.'

Brown's firm was approached by the New York-based developer in mid-2015 to considering designing the project. Brown said he was leery of taking on another condominium.

His architecture firm has designed a couple of condo projects, including Arabella, a 33-story, 99-unit tower in the River Oaks district.

After a couple of meetings with the development company's own principals and getting to understand how the micro-unit concept could fit into the Houston real estate market, Brown said he was eager to design the condominium.

'We take them on with a great sense of responsibility but this was different than just a condominium,' Brown said.

'What intrigued me was 550 micro-units all in one spot. We haven't seen that anywhere in the world. So our developer thinks this is the largest set of aggregated micro-units in the country.'

The best comparison, Brown said, is to micro-apartments that are common in high density areas such as New York, Washington D.C. and Shanghai.

Thirty or 40 micro-apartments may sit atop retail and office mixed-use developments, for example.

Most of these small rental units are found in places where the land is dear and driven by density.

'I think that our developer is looking more at an economic demographic rather than a density driven environment,' Brown said.

The Ivy Lofts' developers are looking to millennials who would like to own their own space but are willing to live a lifestyle that requires less of it.

RE/MAX Inner Loop, located at 2011 Leeland St., is handling marketing and sales for The Ivy Lofts.

According to a news release posted on RE/MAX Inner Loop's website, East Downtown is a fast-growing area in Houston's original Chinatown.

The Ivy Lofts is located approximately 2 miles from the University of Houston and 4 miles to the Texas Medical Center.

A pre-sales center recently opened at the site, and Freddy Rodriguez, broker and owner of RE/MAX Inner Loop, said his staff expects inventory to sell quickly.

More millennials

According to the Urban Land Institute, millennials surpass baby boomers as the largest living generation in the United States.

The institute studies land use and conducted a survey of millennials last year to try and learn more about the demographic group, also often referred to as Generation Y.

Kathleen Carey, the institute's executive vice president and chief content officer, discussed the survey's findings during a Dec. 16 conference held at the Junior League of Houston.

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She said millennials have influenced how and where people work, shop, play and live while reshaping social media, the sharing economy, as well as casual, flexible, diverse and collaborative workplaces.

Developers, she said, need to be ready for even more changes as this population grows older.

According to the institute, Generation Y makes up 27 percent of the population.

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Of those 62 percent are unmarried, compared to the 42 percent of Baby Boomers at similar ages.

Sixty-two percent work full-time, 15 percent work part-time, and 9 percent are in school, according to the survey.

Fifty-seven percent of the demographic, Carey said, own pets. The majority own dogs.

And millennials are mobile, she said, and looking for quality environments with green space to access parks, that are convenient to public transit and made up of diverse races, nationalities and age groups.

And 63 percent of the millennials that participated in the institute's survey said they would consider a 'car optional place.'

Many also indicated they prefer living in urban environments.

That could change as they get married and start families, Carey said.

'I know that (millennials) don't like to hear that they will do this or that, but by sheer force of numbers, even if a fraction of (the demographic) do something, it will be a lot of people doing whatever it is,' she told the developers at the meeting.

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'Wouldn't it be nice to know where they are going and what they want when they get there?'

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Brown, The Ivy Lofts' designer, believes the project's developers have put a lot of thought into how the project answers what millennials are looking for.

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Even though, he said, the micro-unit concept may not make sense to those who just look at the Houston market and the way it's typically understood.

'It takes a certain frame of mind to understand the millennial socio-demographic,' Brown said.