CREguy13

It appears Alexandria is investing in Houston... this is excellent news.

This replat seems very positive... I recall hearing that if Hines leased ~50% of Building 1, that they'd kick off Buildings 2 & 3. I wonder if we'll see a major tenant announcement in the next several weeks... Fingers crossed!

My guess is it's just similar fencing they've placed on their other owned lots for branding the district. This site is slated for a much later phase with other blocks planned to be developed much sooner ie the lot across the outdoor plaza and the existing tenant parking lot.

I was at a breakfast last week where Crane was the keynote. He briefly mentioned their plans and stated a hotel, a lot of entertainment/retail, and possibly high-rise apartments were a part of the plan. I'm excited about the fact he owns several other lots all around the ball park for future phases. This will be a very active part of downtown in the next couple years. Hopefully they release the official plans soon.

Oh I'd feel pretty good about this. I have no knowledge of the development, but it is Hines and they're kicking this off at beginning of a multi-year development cycle with a lead tenant for the first building. Guarantee they secure a great hotel flag, especially now with the Thompson a few blocks away.

These might be my favorite in-fill projects. We need more Reveres, Westmores, Giorgettis, and Lexingtons throughout River Oaks, Upper Kirby, Greenway, etc. Hats off to Pelican for leading this charge.

Fortunately, this will not be the case for site. Skanska is going to build something amazing here, but with that, comes proper master planning and understanding the best overall use/market size for what will be a transformative project for Montrose. Then factor in the Kroger site next door and its a lot to consider, all while engaging numerous community stakeholders.

wow wow wow. This along with AH will be a huge change for the area. The density continues...

So did this project get its financing?

I did not enjoy this article nor think it was that great of writing. My lord was the author negative, mainly towards Houston haha

Can you say 30 floors with ground floor retail.... Hopefully they can get this financed soon with all the economic activity starting to occur in Houston and the high demand for living in this area. Hope the design fits the neighborhood obviously, but wow does Montrose continue to blow up with great height, density and quality of businesses, restaurants. https://verosade.com/projects/

This stretch of Tuam and Fairview is really picking up pedestrian traffic and nearby residents. Will be great to see this being a solid connector between Midtown and Montrose, creating a nice little corridor. Tuam is set up well for this.

Separate from this thread, I'm excited to see how TMC3, Levit Green, etc. directly impacts nearby housing with all of these high-paying jobs being created in the area. The clear beneficiary imo is the Museum District with it's immediate access to Hermann Park, adjacent to one of the nations best cluster of art/cultural institutions, and a growing number of great restaurants. It seems more land has been trading in the area as of late, so perhaps developers are positioning for an influx in demand. I could see this becoming a much more dense and affluent area in the next several years. Feed me more Boone Manors.

Looks like the new buyer also owns 500 Jefferson next door. Would be awesome if there was a plan to convert both towers to residential. Imagine what that does to this area of downtown after they decommission the Pierce elevated and downtown seamlessly connects to this active corner of midtown.

I'm not too familiar with Pegasus Park, but after quick research I couldn't help but chuckle that it was in the same conversation as TMC3. I'm all for collaboration if it helps bring more capital to Houston, but I genuinely don't think Austin and Dallas are remotely close to the potential that exists here. Although I'm happy to admit my ignorance when it comes to their medical and biotech scenes.

Looked like they were doing a partial mat pour this morning. A few pump trucks are on-site.

Wasn't able to snap a pic, but IB1's crane is going up today.

Good thing for all of us here is that OMA is the architect, not Gensler. And while the designs are preliminary, they are incredible. Like nothing currently in Houston, extremely ambitious. I'm hopeful they get put out in the next few months.

Yep, working at Common Desk! Drop me a DM if you ever want to grab coffee 👍

If you're supportive of the Ion, you'll dislike and be semi-annoyed by the comments in this episode. If you're anti-Ion and what's happening in this area, you'll like this episode. My opinion, but figured I'd save some 18:07

Yes, but completely different than typical store and the Highland Village location I don't believe is going anywhere. To get a better perspective of the type of development, look at the RH Dallas that opened earlier this year: https://rh.com/dallas/restaurant

Hoping this is simply quick politics to have gone on record for delaying vote... I recently started working out of the Ion and it is bustling with energy from VCs, startups, several large energy companies, highly programmed networking and academic events, tons of visitors, etc. Also Greentown Labs is near or at capacity and there is spillover from there to here already taking place... the moment these investments are approved, Phase I is likely ready to be announced. Could be wrong, but don't think I am... hopefully this is only a short pause. Serious momentum underway.

I believe this is an older rendering, as I'm pretty sure the tower on the right went through a redesign and is now several floors taller. The shorter building will be an exciting tenant announcement 🤩

Hines breaks ground on 53-acre Levit Green life sciences district near TMC By Jeff Jeffrey – Reporter, Houston Business Journal Oct 5, 2021 Houston-based Hines has broken ground on a 53-acre development that promises to put Houston on the map as a life sciences hub on par with San Francisco, San Diego and the famed Life Sciences Corridor in Boston. Hines, with financial support from investment management firm Harrison Street and 2MLN Real Estate Interests, have begun construction work on Levit Green. The development will be near the interchange of Highway 288 and Holcombe Boulevard/Old Spanish Trail, just east of the Texas Medical Center. The first phase of the project focuses on a five-story, 270,000-square-foot building that is custom-designed to house life sciences research and development projects. The first building of the mixed-use development is scheduled to be delivered in the fourth quarter of 2022, with initial occupancy planned for December 2022. “Breaking ground at Levit Green marks a pivotal moment for Houston as a burgeoning life science cluster,” said John Mooz, senior managing director at Hines. “Our carefully built team of national life science leasing, design and capital experts has put a tremendous amount of thought and effort into Building I’s planning and design. We are confident that our team will deliver one of the highest-quality commercial laboratory assets in the world. We are excited to begin the first of several top-tier projects at Levit Green that are important to the life sciences sector.” Levit Green 1, as the first building is known, will be the first of nine buildings planned for the site under Hines’ master plan for Levit Green. The first building will be equipped with 100% redundant emergency power, enhanced structural vibration attenuation, augmented mechanical systems, 33-foot structural bay depths and floorplates exceeding 56,000 square feet. Additionally, the building's amenities will include a 5,800-square-foot fitness center and outdoor garden, 7,000-square-foot conference center, 3,500 square feet of café and restaurant space, and ample on-site parking. The ground floor will also have more than 25,000 square feet of lab incubator space, which will provide entrepreneurs and early-stage life science companies with laboratory and office space. Chicago-based JLL (NYSE: JLL) has been tapped to oversee leasing for building one. Hines has declined to comment on the cost of the first phase of development. The master plan for Levit Green includes several lakes in the heart of the district, with each building designed to embrace the planned waterfronts. For example, the restaurant and cafe space in the first building will connect to outside dining space, where researchers and technicians can gather for a cup of coffee or a glass of wine as they kick around ideas next to the water. Hines began the initial talks in 2016 with 2ML Real Estate Interests, formerly known as The Grocers Supply Co. Inc., to acquire the site of some Grocers Supply warehouse and distribution facilities for Levit Green. In fact, Levit Green takes its name from the family behind 2ML Real Estate Interests. But after Hines took over the property, much of the work has focused on ensuring the design was right. Hines tapped St. Louis-based architecture, engineering and planning firm HOK, which has extensive experience designing properties for scientific research firms. For nearly two years, Hines sent teams to life sciences clusters across the country to see what kinds of facilities and amenities competing cities offered, Mooz said in February. The developer also drew on the company’s experience designing and building “complicated” laboratory environments around the world, which include a research center for the U.S. Food and Drug Administration, petrochemical labs and research facilities for clinical clients, among others. The Levit Green project comes at a time when the life sciences sector has been one of the few bright spots in an otherwise lagging commercial real estate market nationally. In Houston, where the office market has stumbled along for years amid vacancy rates in excess of 20%, a number of developers have been making plays in the life sciences space to find opportunities. Houston-based Medistar Corp. is developing a 30-story high-rise, dubbed Horizon Tower, near the Texas Medical Center in partnership with Texas A&M University. The 485,000-square-foot, 17-story office project is being built atop a 13-story parking structure at 6929 Main St. and will be part of the Texas A&M Innovation Plaza. It's slated to deliver in early 2023. Cushman & Wakefield was hired to provide agency leasing services for Horizon Tower. Additionally, the Texas Medical Center recently announced that construction of its 37-acre TMC3 medical research campus is well underway. As of Aug. 31, nearly 118 million pounds of concrete had been poured at the TMC3 site, according to figures from Houston-based Vaughn Construction, the general contractor selected for the TMC3 project. Construction has also started on the roughly 271,000-square-foot communal hub of TMC3, called the TMC3 Collaborative Building.

Somebody's ears were burning... Drove by on way home and the crane base was there. Are we going to get a crane in the sky before a single article?