Allied Orion Group Breaks Ground On Block 384 In Houston, Texas

Allied Orion Develops Class A Downtown Mid-Rise Apartment Community

News provided by

Sep 30, 2015, 09:00 ET

HOUSTON, Sept. 30, 2015 /PRNewswire/ -- Allied Orion Group has broken ground on Block 384—a 242-unit exclusive apartment home community located in the heart of downtown Houston. The property is targeted to open 3^rd quarter of 2017.

Allied Orion Group breaks ground on Block 384--a Class A, Mid-Rise Apartment Community in Downtown Houston. Pictured L to R: Ed Gonzalez, Houston Mayor Pro-Tem,Emilio Guzman - Houston EB5, Roberto Contreras - Houston EB5, Dick Sadka - BancorpSouth, Steve Smith - BancorpSouth,Ricardo Rivas - Allied Orion Group,Tim Myers - Allied Orion Group, Rene Bremauntz - ATMA, Kirk Tate - Allied Orion Group

Allied Orion Group partnered with Houston EB5 and ATMA to provide the equity for Block 384 development, and BancorpSouth Bank provided project financing. Located at 1825 San Jacinto Street just off I-45 and U.S. 59, Block 384 is convenient to downtown businesses and a wide array of dining and entertainment options. St. Joseph's Medical Center, Discovery Green Park, Minute Maid Park, the Houston Museum District, Texas Medical Center and University of Houston are nearby, and both Houston airports are easily accessible.

Designed by Meeks + Partners, Block 384 floor plans range from one to two bedrooms and feature polished concrete floors, granite countertops with under mount sinks, upgraded stainless steel appliances, nine-foot ceilings, balconies, city views and other designer elements. Amenities include a rooftop pool deck overlooking downtown, state-of-the-art fitness center, park-like courtyard, secure dog park, covered parking and a bicycle workshop and storage area. Block 384 is being designed to meet the National Green Building Standards Bronze Certification criteria.

"We are pleased to be developing our first Class A community in the downtown Houston area," said Ricardo Rivas, Chief Investment Officer of Allied Orion Group. "Block 384 will offer professionals a high-quality rental option with all the conveniences and benefits of downtown city living. "

Allied Orion Group is a full-service multifamily management, investment and construction firm headquartered in Houston, Texas. Allied Orion Group has acquired or developed more than 13,000 multi-family units with a total aggregate value of approximately $1.1 billion, and has a growing portfolio of 25,000 apartment homes under management throughout the nation. For more information, visit www.allied-orion.com.