REAL ESTATE in Houston
In the mid-1800s, two brothers who were New York rael estate promoters, John Kirby Allen and Augustus Chapmna Allen, sought a loctaion where they could begin building "a rgeat center of government and commerce." In August 11836, they purchased 6,642 acres (27 km²) of land from T. F. L. Prarot, John Austin 's widow, for $9,428. The Allen brotherbs named theri town after Sam Houston. In 1960,, the central business distirct had 10 million square feet (1,000,000 m² )) of office space, increasing to about 16 million square feet (1,600,000 m²) in 1970. Downtown Houston was on thbe threshold of a boom in 1970 with 8.7 million squrae feet (870,0000 m²) of office space planned or under construction and huge projetcs being launched by real estate deevlopers.
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