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Invest in Houston’s most walkable corridor: The Plant in Second Ward

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Development destined to change the conversation.

Our investors are taking action and seizing the opportunity to get in at the ground level of something that will profoundly impact the ideas and execution of how our city continues to grow. Ensuring Houston stays center stage as a city of the future, with a legacy of ideas that continue to change the world.

Concept Neighborhood has successfully brought together an irreplaceable assemblage of nearly 17 acres and 13 Historic buildings in a fast-growing urban location that capitalizes on existing connectivity through public transit, expansive green spaces, and close proximity to downtown. Coming in with the built-in benefit of major investments in infrastructure and amenities offers not only substantial unrealized gain, but also promises insured downside protection.

How we’re making it happen:

  • Capitalizing on the rare opportunity to create an authentic walkable corridor that establishes connectivity with real, measurable value.
  • Strategically following $300M of public, quality of life investments occurring adjacent to the development.
  • Targeting tangible and demonstrable market returns.
  • Deep community trust and city relationships that have been in the making for 10+ years.
  • Incentives include Qualified Opportunity Fund, Historic Tax Credits and Transit Oriented Development.
  • The leadership and vision of an experienced, co-invested operator.
This image shows The Plant at Harrisburg at night.
Investor Information

Join us

Capitalizeson value created by building over 1,200+ ground-up apartments and another 30ksf of retail and office space.

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Getting to know what,
and who you’re investing in.

This is a map of the east end of Houston, Texas with lots of markers indicating where the multitude of restaurants, retail, parks, and places there are to get to know in the mix.
Our 3-Step Plan

Organic Urban Development Strategy

Step 1

Property Acquisition

2020 - 2023

Step 2

Adaptive Reuse

2024 -2026

Step 3

Vertical Mixed Use

2026 - 2029
1
2
3
This image shows an aerial image of the land acquisition that Concept Neighborhood has gone through.

Land Acquisition

2020 - 2023

Combining nearly 17 acres and over 250,000 square feet of properties including historically designated buildings and a central 8-acre developable tract. Concept Neighborhood spent years assembling enough land and buildings to execute on its neighborhood development strategy.

This image shows the building assemblage for adaptive reuse.

Creation of a Central Greenway

Conversion and preservation of over 220,000 square feet of historic warehouses into retail and office space.

This image shows the existing building assemblage in the Second Ward that Concept Neighborhood has acquired.

Adaptive Reuse

2024 - 2026

A built-in walkable corridor that links all of our properties together and establishes them as a connecting pathway from the Buffalo Bayou trail expansion to the Metro Rail line.

This image shows how the Plaza and the Green Trail will create two distinct districts: Roberts Row and Trail Village.

Central Plaza & Bayou Trail

In the center of this corridor will be a plaza of about 20,000 square feet. Surrounded by several of our historic buildings, the Central Plaza will be lined with restaurants, bars, and retail spaces that serve as a bustling center of activity in the district. The Bayou Trail will then further link the Plaza directly north through our properties towards Buffalo Bayou.

This image shows how the Plaza and the Green Trail will create two distinct districts: Roberts Row and Trail Village.

Roberts Row & Trail Village

These greenspaces will anchor two distinct districts within the project :

  • Roberts Row, a 220,000 square foot historic campus of WWII-era buildings repurposed for retail development.
  • Trail Village, a mixed-use district of existing buildings and land for denser development.
This image shows established momentum in the development with lots of pre-leased space for the investment.

Established Momentum

The blue area represents what has currently been leased within The Plant. This level of occupation within the assemblage is the result of our strategy for curating and helping manage an authentic mix of tenants and relationships.

Outsize yields on lower construction costs (adaptive reuse) and going into the market with high occupancy creates a highly impactful halo effect that holds real value and continues to attract high-end tenants to our development.

This image shows a map of the buildings with a red area that represents a halo effect for the development.

Creation of Halo Effect

Nearly 11 acres, greater than 7 full city blocks, in a premium retail district connected to the rails and trails gives way to the halo effect.

The orange land seen here is destined for high-value multi-family development sites.

This image shows the vertical mixed use living and commercial spaces that will go up among the building assemblage and planned trails.

Vertical Mixed Use & Residential Development

2026 - 2029

Within the next 5 years 1,000+ new multi-family units and added mixed-use retail / commercial spaces will be in place to continue to add value to the growing campus; while effectively fulfilling our vision to keep the neighborhood affordable, accessible, and authentic for its residents.

This image shows the vertical mixed use living and commercial spaces that will go up among the building assemblage and planned trails.
This image shows a map of the buildings with a red area that represents a halo effect for the development.
This image shows what has already been leased in the grand development.
This image shows a map for the development that points out Roberts Row and Trail Village.
This image shows a map pointing out where the Central Plaza and Bayou Trail connect along the connecting green trail.
This image shows the building assemblage for adaptive reuse.
This image shows the existing building assemblage in the Second Ward that Concept Neighborhood has acquired.
This image shows an aerial image of the land acquisition that Concept Neighborhood has gone through.
Incentives

Qualified Opportunity Fund with Overlapping Incentives

Qualified Opportunity Zone

Historic Tax Credits

Transit Oriented Development

Economic Development Agreements

Investment Terms

Raising $9M additional equity to complete Phase I of Adaptive Re-Use Development, contracted acquisitions, and additional hold/pre-development costs.

Structure

Limited Partnership
Qualified Opportunity Fund

Term

11 years with extensions

Final Closing

October 31, 2024

Investment Minimum

$50k

Preferred Return

8% non-compounded annual rate of return

Carried Interest

30% with GP catch-up and 10% clawback reserve increasing to 40% after 18% return to LPs

Services & Fees

Asset management: 1 - 2% annually on equity.
Debt placement: 0.5 - 0.75% on loan amount.
Development: 4% on hard and soft cost.
Services otherwise provided by 3rd parties at market rate fees (e.g.  brokerage, management, personal guarantee, etc.).

*Accredited Investors Only

Disclaimer

No representation or warranty is made, expressed or implied, as to the accuracy or completeness of any of the information contained herein, which includes “forward-looking statements” that may differ materially from actual events or results.

Nothing herein constitutes an offer to sell nor is it a solicitation of any offer to buy any securities.  Such an offer will be available only to “accredited investors”. If any information herein is inconsistent with or contrary to the Offering Documents, the Offering Documents will control.

Prior and projected operating or investment results described herein are for illustrative purposes only and are not indicative of the Fund’s future investment or operating results.  There can be no assurance that the Fund will be able to avoid losses.

The information herein does not purport to contain all information that may be material to a prospective investor.  Recipients of this material should conduct their own evaluation of the investment described herein.  Prospective investors must carefully review the Offering Documents and consult with independent legal, tax and business advisors concerning any potential investment in the Fund.

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Disclaimer

No representation or warranty is made, expressed or implied, as to the accuracy or completeness of any of the information contained herein, which includes “forward-looking statements” that may differ materially from actual events or results.

Nothing herein constitutes an offer to sell nor is it a solicitation of any offer to buy any securities.  Such an offer will be available only to “accredited investors”. If any information herein is inconsistent with or contrary to the Offering Documents, the Offering Documents will control.

Prior and projected operating or investment results described herein are for illustrative purposes only and are not indicative of the Fund’s future investment or operating results.  There can be no assurance that the Fund will be able to avoid losses.

The information herein does not purport to contain all information that may be material to a prospective investor.  Recipients of this material should conduct their own evaluation of the investment described herein.  Prospective investors must carefully review the Offering Documents and consult with independent legal, tax and business advisors concerning any potential investment in the Fund.

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Ready to see your investment grow with The Plant?

This is a headshot of Dave Seeburger who is in charge of Investments & Asset Management.

Investments & Asset Management

Dave Seeburger

[email protected]
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