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33-story co-living tower in Houston's Museum District is set to resume construction after its developer, Chicago-based X Company, secured a $172 million loan from New York-based Mavik Capital. The financing package was arranged by Raven Capital Management and includes a repayment guarantee from the partner company, which also facilitated an earlier $27.9 million investment to cover completed work. This deal resolves over $67 million in liens filed by unpaid subcontractors, suppliers, and contractors.

    Work on X Houston, a 475-unit co-living apartment building, had stalled for more than a year after initial financing fell through, leaving the project half-finished. The development is expected to feature 646 beds across studio, one- and two-bedroom apartments with flexible lease terms. With this new financing in place, construction could resume before the end of the year.

    The deal marks a significant milestone for X Company, which has faced challenges in securing funding for its projects. The company's CEO remains committed to completing the co-living development, which would be one of Houston's first ground-up co-living developments.