NTS Tower getting $20 million makeover, developers to add lofts - FOX34 Lubbock

NTS Tower getting $20 million makeover, developers to add lofts

LUBBOCK, Texas -

Lubbock's tallest building will receive a makeover worth more than $20 million. It's intended to bring more homes downtown.

According to a news release, the NTS Tower, originally known as the Great Plains Life Building, will be renovated into the Metro Tower Lofts. Kansas City-based MRE Capital and its partner, Austin-based Structure Development, plan to start redevelopment before the end of this year. 

The partnership will use historical tax and housing tax credits as part of its financing. 

Plans include adding 89 one- and two-bedroom lofts. The first floor will house commercial amenities, with lofts on floors four through 18. NTS will occupy the second and third floors and the roof. 

“Full city support was crucial to making this happen,” Alison Blalock, of WestMark Commercial/TCN Worldwide, said in a news release. Mayor Dan Pope, the city council, state Rep. John Frullo and the Central Business District Tax Increment Board all lent their support, she said.

The developers have also purchased four parking lots: one is directly north of the building; another is opposite the building on the south side of Broadway; and the others are at 1301 10th St. and 1402 Main St.

The 1970 Lubbock tornado hit the building. For years, it was pretty much home to just birds. The tower was stabilized and re-opened in 1975. 

Recently, according to the news release, 13 floors have been off limits because they did not meed fire code.

The project is expected to be finished by the end of 2021.

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