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City holds public hearing on TPMSDA LLC tax‑abatement plan; developer to invest $25 million
Summary
City staff presented a public hearing on a proposed TPMSDA LLC tax‑abatement and reinvestment zone for a ~7.5‑acre West Houston redevelopment including GSI improvements. The mayor’s office said the project would invest about $25 million; council will review the abatement agreement ahead of the Dec. 4 vote.
City economic‑development staff held a public hearing Nov. 6 on a proposed tax‑abatement and reinvestment zone for TPMSDA LLC (also referenced as Market Square Companies), which plans to demolish and redevelop roughly 7.5 acres in West Houston into about 90,000 square feet of retail, restaurant and office space.
Andrew Busker of the Mayor’s Office of Economic Development summarized the proposal under Texas Tax Code sections 312.201 and 312.207 and chapter 44 of the City of Houston Code of Ordinances. Busker said the developer expects to invest approximately $25 million in the project, including about $2.6 million in eligible demolition costs and about $3.18 million in eligible green stormwater infrastructure (GSI) costs such as permeable pavers, bioswales and urban forestry. The GSI incentive structure in chapter 44 allows a 100% abatement on eligible GSI costs and the deteriorated/demolished property abatement allows up to a 90% abatement on eligible demolition costs; the abatement is structured as a variable percentage of city property taxes over a 10‑year period.
Busker said the first‑year abatement is projected at roughly $471,000 and the average annual abatement at approximately $540,000. The project addresses three West Houston addresses listed during the hearing and is expected to reach full operation in 2027. City staff said the formal abatement agreement and reinvestment‑zone designation documents will be provided to council for review ahead of scheduled council actions on Dec. 4.
No members of the public signed up to speak on this item during the hearing; the council moved to close the hearing and proceed with the agenda. Council members thanked staff for bringing forward one of the first GSI abatement applications under the updated chapter 44 program and encouraged developers to propose GSI elements to improve resilience and redevelopment outcomes.
Next steps: staff will publish the abatement agreement documents and the council will consider formal action (ordinance/zone designation) at the Dec. 4 council meeting.
