Empty Office Tower Gets New Life

UBS Realty Investors just sold a massive, mostly empty downtown Houston office tower to Zhukovskyi Development — a Tampa-based apartment builder — for over $48 million. Built in 1956 and last renovated last year, the 24-story, half-million-square-foot building at 919 Milam St. was previously purchased in 2025 by 3L Real Estate, which also eyed a $26M conversion. With Texas recently passing legislation to ease zoning hurdles, this landmark property — ranked a top candidate for residential conversion — could soon become a model for urban reinvention. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/80a9fe4b576ae49a