Aspen Heights, a builder and developer of off-campus student housing across the United States, is planning to build a $56 million private dorm complex on Cullen Boulevard just north of I-45. Set to be completed by the fall of 2015, the complex will be located a quarter of a mile from the University of Houston's main campus.
To help build the 305,076 square foot dorm, set to house 739 beds, Aspen Heights is seeking a 10-year tax abatement from the city. Since the property is located in a high poverty census block in the far southeast corner of east downtown, the project is also receiving a 90-percent tax abatement.
The complex, situated on 7.7 acres, will feature one-, two- and four-bedroom apartment-like units.