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Chicago-based developer, X Company, is poised to restart work on a 33-story co-living tower in Houston's Museum District after securing nearly $28 million in financing. The funding comes from New York-based lender Raven Capital Management and will be used by XSC Houston Investments, the project's subsidiary. Construction was halted over a year ago due to financing issues and unpaid services liens filed by contractors.

    The 750,000-square-foot tower at 5501 La Branch Street initially faced an estimated $107 million price tag, featuring 646 beds across 475 units with shared common spaces. After work stopped, more than $67 million in liens were filed, including a $38 million claim from Hoar Construction that has since been settled.

    With financing secured and contractors ready to resume work, construction could begin as early as November. X Company has faced similar financial struggles in other cities, including Phoenix and Denver, where lawsuits and liens have been filed against the company. The relationship between X and Raven Capital has also become more prominent, with records showing that X CEO Noah Gottlieb was removed from XSC Houston earlier this year, replaced by Raven Capital COO Noah Himmel as an authorized person.