Finger has purchased a 1.4-acre tract for the project, whichwill be under construction early in 2001 and be open about a yearlater. The 288-unit apartment project is expected to commandmonthly rents ranging from $1,200 to $2.500.

The project will be constructed in an older part of Houston thatis studded with numerous mature oak trees. The site is about threeblocks north of the Museum of Fine Arts and is in within walkingdistance of the Children's Museum, Holocaust Museum andContemporary Arts Museum. The area has become popular withapartment developers, home builders and developers of townhomeprojects. Residential sales and apartment leasing have been strongdue to a strong demand from people who want to live close todowntown and the Texas Medical Center.

Finger has developed thousands of apartment units in Texas andother southern states. The tract was purchased from Denver-basedHensel Phelps Construction Co. Stan Creech Properties negotiatedthe land sale.