August 5, 2019
MRE Capital and Structure Development are teaming to redevelop the NTS building in Lubbock, TX. The development team is planning to re-do the building, ranked as the tallest in the West Texas city, into a residential property. The $20-million project is scheduled for completion in Q4 2021.
Known as Metro Tower Lofts, the property at 1220 Broadway will have 89 units, with a mix of studios, one- and two-bedroom units for lease on the fourth through 18th floors. Meanwhile, NTX Communications will continue using the second and third floors. Four adjacent parking lots were also purchased for the development.
The 274-foot-tall tower delivered in 1955 as the Great Plains Life Building. It had been impacted by a tornado in 1970. Though it re-opened in 1975, 13 floors had been uninhabitable because of new building codes.
It’s time to register for this year’s Connect Texas Multifamily Conference on Aug. 15! For information and to register, click here.
For comments, questions or concerns, please contact Amy Sorter