Founded in 1995, The Houston Downtown Management District facilitates various public and private projects related to residential housing, nightlife, and transportation options. It is spread over an area of more than 1,100 acres. The district maintains an outdoor, retractable-roof baseball stadium that hosts national-level tournaments and leagues. It also features a multipurpose facility that has a seating capacity of nearly 15,500 people for basketball and approximately 20,000 people for special events, as well as a venue for musical concerts and performance arts events. Additionally, the Houston Downtown Management District features more than 20 residential communities, as well as several historic buildings being converted into residential lofts.