Sovereign at the Ballpark is a 229-unit multifamily buildinglocated downtown at 101 Crawford St.
HOUSTON—Aligning with the demand for multifamily development duein part by Downtown Living Initiative incentives, ACRES CapitalCorp. and its subsidiaries have originated a $49 millionconstruction loan to fund the completion of Sovereign at theBallpark. The 229-unit multifamily building is located downtown at101 Crawford St.
"As the second-most populated metropolitan statistical area inthe state of Texas and the energy capital of the world, Houston hasexpanded its economic base with growth in the internationalbusiness, information systems technology and service-relatedindustries," said Mark Fogel, ACRES president and chief executiveofficer. "Downtown Houston has seen a substantial increase inmultifamily development due in part to incentives provided by thecity's Downtown Living Initiative, as well as the progression ofits retail sector. This has created an ideal environment for newinvestments such as Sovereign at the Ballpark, which is perfectlypositioned to accommodate the surge in demand from an assortment ofresidents."
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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.
