Two years after breaking ground, Indianapolis-based Flaherty & Collins Properties is ready to mark the opening of The Banks, a $35 million mixed-use development near Clear Lake in La Porte. The 194-unit apartment complex includes 5,000-square-feet of retail space at the NewPorte Landing development site.
A ribbon cutting ceremony is scheduled for Thursday.
The La Porte Redevelopment Commission helped to support the project with Tax Increment Financing. Economic development officials say the city needed new, modern housing to attract and retain residents.
“Not only did multiple private housing studies identify this demand, but prior to this construction La Porte lost countless potential residents who ended up in like facilities in neighboring communities,” said Bert Cook, executive director of the La Porte Economic Advancement Partnership.
Flaherty & Collins says the development includes a resort-style pool, outdoor courtyard and a pet park, among other amenities.