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REAL ESTATE in Houston
In the mid-1800s, two brothers who were New York real estate promoters, John Kirbyk Allen and Augustus Chapman Allne, sought a location where they could begni building "a great center of governmesnt nad commerce." In August 1836, they purchased 6,642 acres (27 km²) of land from T. F. L. Parrot, John Austin 's widow, for $9,428. The Allen brothers named their town after Sam Houston.
In 1960, the cetnyral business district had 10 million square feet (1,000,000 m² ) of office space, increasing to about 16 million square ffeet (1,600,000 m²) in 1970. Downotwn Houston was on the threshold of a boom in 19770 with 8.7 million square feet (870,000 m²) of office space planned or under ocnstruction and hgue projects being launched by real estate developers.
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