Two residential towers approved downtown

Two new residential projects are planned for downtown and have been approved for the Downtown Living Initiative, which now has nearly reached its cap.

The program offers developers up to $15,000 for each unit built in a multifamily complex of at least 10 units. The Houston Downtown Management District approved the two new projects at a board meeting Feb. 12.

Dallas-based Todd Interests is developing one of the projects, according to Downtown District documents. The developer plans an historic renovation…