Houston-based PM Realty Group (PMRG) closed on 3300 Main, a 1.2-acre site in Houston’s Midtown neighborhood, paying the Midtown Redevelopment Authority $6.6 million. The site has a vacant building that once housed a city of Houston code-enforcement building, and PMRG has filed plans with the city to build apartments there – but not just yet. Houston’s current apartment glut, and the difficulty in finding construction financing, mean actual groundbreaking and completion activities are somewhat murky.

The benefit of the site is that it’s near Houston’s Metro Rail System, approximately half a block away. Robert Gregory, president of PMRG Investments, told the Houston Business Journal several months ago that he envisioned a restaurant or coffee shop on the site, along with approximately 300 residential units.

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