Since 2012, the Downtown Living Initiative (DLI) has promoted economic development and stimulated commercial activity through development incentives for selected multifamily residential mixed-use projects. The goals and incentives of the program’s next phase, DLI 2.0, will be defined and announced in 2023-2024.
More Space Main Street 2.0
The More Space: Main Street initiative began as a temporary way to support our businesses during the COVID-19 pandemic. In March 2023, City Council approved the program’s permanent establishment, closing portions of Main Street to vehicular traffic, creating safe, walkable space for pedestrians and room for Main Street-facing activities. While Blocks of Main Street from Commerce to Rusk to vehicles are closed for traffic, drivers can still cross Main Street on the side streets.
Downtown Houston Office Conversion Study
To begin shaping an adaptive reuse incentive program, the Downtown Houston+ worked with a consultant to conduct a feasibility study of selected buildings located within the Downtown Houston boundaries of the DRA. This first phase of this process laid the groundwork for an Office Conversion Program, designed to incentivize the rehabilitation and repurposing of underutilized office space in downtown buildings within the boundaries of the DRA. The completed study is intended to assist participating property owners in understanding potential project feasibility for multiple adaptive reuse scenarios once the program is formed, authorized by the DRA Board, and approved by Houston City Council. These scenarios will provide a means to identify and appropriately assess the efficacy of the currently known financing tools that may be utilized to bridge capital or operational funding gaps related to office building conversions.