ALONG scenic Allen Parkway and five minutes from downtown, the Allen House Apartments are a local institution, a place college students, seniors, actors and journalists have called home. The owners of the property want to make it a different kind of local landmark.

On Tuesday, residents there were told that the Boston-based real estate firm that has owned the complex for two decades plans to turn the 24 acres of prime land into Regent Square, a mixed-use urban village housing apartments, condominiums, shops and a boutique hotel...

Regent Square's location "couldn't be much better" for an urban-style mixed-use project, said Kent Dussair, president of CDS Market Research, a Houston-based professional consulting firm. "Allen Parkway is one of Houston's gems."

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