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HOUSTON-Alliance Communities has purchased a 224-unit project called the Gramercy Park Condominiums located at 2600 and 2601 Gramercy in Houston close to the Texas Medical Center. The firm will convert the two-tower condominium complex into rental units.

Alliance will change the name of the development as Broadstone Gramercy. The firm also plans to finish the northern building construction. The complex features one-, two- and three-bedroom units with sizes varying between 781 square feet and 1,529 square feet. For the full story, go to Houston Chronicle.

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