South Main Innovation District in Midtown

[wilcal 1683]

Midtown Houston has several videos on their FB story where they were taking a tour of the ION.

 

I think that these only stay up for 24 hours? So it's going to disappear by like 6pmish today. I'll download them and post them here with the stills.

 

They did say that the north face of the building would be restaurants. 

Their post: https://www.facebook.com/stories/2112030015480802/UzpfSVNDOjEwMTYwNTUyNzU3ODEyMjI4/

 

Here are the same vids that I downloaded and then reuploaded to imgur

 

The stills: 

 

 

 

[BeerNut 2570]

Can't tell if RMC plans to go forward with the CBA or just going through the motions.

 

https://linktr.ee/hcedd

 

[Highrise Tower 33231]

Ion garage building permit and info about Greentown Labs.

 

 

[Fortune 888]

$33,517,144.00 seems like a nice price tag for a renovation. Maybe the renovation of the old Fiesta will be nicer than I was expecting. 

[hindesky 46515]

Opened on Nov. 16th 1939

Edited November 21, 2020 by hindesky

[hindesky 46515]

[cspwal 3903]

You can see the old facade starting to emerge in the new pictures

[H-Town Man 4989]

On 11/21/2020 at 1:27 PM, Fortune said:

$33,517,144.00 seems like a nice price tag for a renovation. Maybe the renovation of the old Fiesta will be nicer than I was expecting. 

 

Yes, at $670/SF, that is pretty substantial. They could build a Fiesta from scratch for maybe a third of that. If they were just filling it with offices and some exterior cosmetics, that would cost maybe $100/SF.

[CREguy13 1885]

4 hours ago, H-Town Man said:

 

Yes, at $670/SF, that is pretty substantial. They could build a Fiesta from scratch for maybe a third of that. If they were just filling it with offices and some exterior cosmetics, that would cost maybe $100/SF.

It's listed as 50,000 SF above, but the existing structure is 40,000 SF, so I wonder if they're adding on to this building?  $670/SF is extraordinarily high and far exceeds Greentown's original budget they mentioned publicly so I'm thinking something has changed... hopefully demand has been so strong it's made them rethink their original expansion plans.

[HNathoo 1183]

We’ve got lighting! 

[kennyc05 299]

Yep saw that the other night!

[hindesky 46515]

[midtowndweller 278]

Drove by and there are these lights on the northeastern side of the building. Not sure if they’ll be covered or if they’re part of the final aesthetic of the building. If they will continually go around the building this will look beautiful at night.

[X.R. 1117]

On 11/21/2020 at 1:27 PM, Fortune said:

$33,517,144.00 seems like a nice price tag for a renovation. Maybe the renovation of the old Fiesta will be nicer than I was expecting. 

 

Are we sure this isn't a clerical error? They maybe meant to say $335,171.44? Some smaller apartment building are cheaper than 33 million, aren't they? If its 33 million, they have to be adding a substantial amount of space somehow to the Fiesta. 

[H-Town Man 4989]

2 hours ago, X.R. said:

 

Are we sure this isn't a clerical error? They maybe meant to say $335,171.44? Some smaller apartment building are cheaper than 33 million, aren't they? If its 33 million, they have to be adding a substantial amount of space somehow to the Fiesta. 

 

I doubt they would have been given a price tag that had cents, these things are rounded to the nearest dollar. I imagine they will be renovating this the way Radom renovated those warehouse buildings off Shepherd in the Heights. You won't even know it was ever a grocery store.

 

[MarathonMan 1157]

$33 million on a project for which construction hasn’t started and with a completion date five months away.  That’s a tight timeline!

[clutchcity94 379]

How amazing would it be if Elon buys out all of the existing pre-leases at the Ion and turns the entire building into Tesla’s new headquarters! Smack dab in the middle of the energy capital of the world.

 

Would take some major balls, but I can see Elon doing something like that now that he has moved to Texas officially.

[Andrew Ewert 154]

On 12/13/2020 at 1:10 PM, clutchcity94 said:

How amazing would it be if Elon buys out all of the existing pre-leases at the Ion and turns the entire building into Tesla’s new headquarters! Smack dab in the middle of the energy capital of the world.

 

Would take some major balls, but I can see Elon doing something like that now that he has moved to Texas officially.

no thanks...

[wilcal 1683]

Microsoft signed as "major tenant"

 

https://www.houstonchronicle.com/business/article/Microsoft-signs-on-as-major-tenant-at-the-15811801.php

[j_cuevas713 3023]

36 minutes ago, wilcal said:

Microsoft signed as "major tenant"

 

https://www.houstonchronicle.com/business/article/Microsoft-signs-on-as-major-tenant-at-the-15811801.php

Huge!

[H-Town Man 4989]

1 hour ago, wilcal said:

Microsoft signed as "major tenant"

 

https://www.houstonchronicle.com/business/article/Microsoft-signs-on-as-major-tenant-at-the-15811801.php

 

Can someone fill in us non-subscribers? How much space are they leasing? What type/purpose of office?

 

[Yoda 1395]

9 minutes ago, H-Town Man said:

 

Can someone fill in us non-subscribers? How much space are they leasing? What type/purpose of office?

 

If you're using Google Chrome, right click the link and the click "Open Link in Incognito Window".

 

Microsoft signs on as ‘major tenant’ at the Ion

In another win for Houston’s technology sector, Microsoft has leased space in The Ion, the former Sears building in Midtown that Rice University is redeveloping into a collaborative hub for innovation.

“Having Microsoft as a major tenant is a huge step forward in realizing the vision for The Ion as a dynamic hub bringing together key elements of innovation in Houston,” Rice President David Leebron said in a press release.

Microsoft will occupy space on the building’s fifth floor, said Rice Management Co. announced Thursday afternoon.

In addition to becoming a tenant, Microsoft will play a role in professional and workforce development through community and start-up initiatives to be housed at the Ion. Microsoft will host executive forums and virtual symposiums, said Rice Management, which manages Rice University’s $6.5 billion endowment fund.

 

City leaders have long touted the importance of growing Houston’s technology sector.

“Over the last several years, Microsoft has made it clear it is committed to Houston,” Mayor Sylvester Turner said in a press release. “With the work Microsoft is already doing with the City and The Ion to support entrepreneurs, workforce development and energy transition, it is only fitting its new home should be in our City's hub for innovation. This news is an exciting next step in our partnership with Microsoft as we continue to grow Houston's innovation ecosystem and become a leader in the global energy transition.”

 

Over the summer, Rice announced its first tenant for the building: Chevron Technology Ventures, an arm of the oil and gas giant that scouts and funds energy-related tech startups. The company will occupy space on the third floor.

The Ion is designed to anchor a 16-acre “innovation district” in the Midtown area that focuses on bringing together entrepreneurs, incubators, accelerators, corporations and academics, and the community at large when it opens next year.

The 288,000 square-foot building at 4201 Main will include shared workspace, prototyping and maker resources, event space, classrooms and communal areas with shared amenities.

[Moore713 784]

28 minutes ago, Yoda said:

If you're using Google Chrome, right click the link and the click "Open Link in Incognito Window".

 

Microsoft signs on as ‘major tenant’ at the Ion

In another win for Houston’s technology sector, Microsoft has leased space in The Ion, the former Sears building in Midtown that Rice University is redeveloping into a collaborative hub for innovation.

“Having Microsoft as a major tenant is a huge step forward in realizing the vision for The Ion as a dynamic hub bringing together key elements of innovation in Houston,” Rice President David Leebron said in a press release.

Microsoft will occupy space on the building’s fifth floor, said Rice Management Co. announced Thursday afternoon.

In addition to becoming a tenant, Microsoft will play a role in professional and workforce development through community and start-up initiatives to be housed at the Ion. Microsoft will host executive forums and virtual symposiums, said Rice Management, which manages Rice University’s $6.5 billion endowment fund.

 

City leaders have long touted the importance of growing Houston’s technology sector.

“Over the last several years, Microsoft has made it clear it is committed to Houston,” Mayor Sylvester Turner said in a press release. “With the work Microsoft is already doing with the City and The Ion to support entrepreneurs, workforce development and energy transition, it is only fitting its new home should be in our City's hub for innovation. This news is an exciting next step in our partnership with Microsoft as we continue to grow Houston's innovation ecosystem and become a leader in the global energy transition.”

 

Over the summer, Rice announced its first tenant for the building: Chevron Technology Ventures, an arm of the oil and gas giant that scouts and funds energy-related tech startups. The company will occupy space on the third floor.

The Ion is designed to anchor a 16-acre “innovation district” in the Midtown area that focuses on bringing together entrepreneurs, incubators, accelerators, corporations and academics, and the community at large when it opens next year.

The 288,000 square-foot building at 4201 Main will include shared workspace, prototyping and maker resources, event space, classrooms and communal areas with shared amenities.

Here hoping how well this place is filling up encourage them to immediately move to the next phase. .   In 5 years that entire area going to look completely different.. where there is business ,services follow  , were there services , residential follows( even more so ). 

 

Given we know  that the areas around it are already marked for development.. the only  logical course is to continue  development along main pass the bridge.

 

Was driving past that old wendys yesterday and thought " just buy out that shop next to it and you have enough sq  for mid size highrise... access to the highway, access to the rail line. 

 

[TheSirDingle 1474]

Found the HBJ report on this, it has square footage and a lot of extra data.

Link: https://www.bizjournals.com/houston/news/2020/12/17/microsoft-inks-lease-in-the-ion.html

 

Square Footage:

Quote

Microsoft will occupy about 25,000 square feet, but the company does not disclose headcount by location, a Microsoft spokesperson confirmed.

Considering this building is 288k Square Foot, this is pretty significant. 

 

Outlines the type of employees to work here:

Quote

The Microsoft employees working at The Ion will be "Azure engineers with deep expertise in cloud computing, data/AI, product development, and subject matter experts from the energy industry," Ravi Krishnaswamy, corporate vice president of Azure Global Industry at Microsoft, wrote in a LinkedIn post about the announcement.

 

Purpose for Lease:

Quote

"Their primary purpose is to work with customers, partners and startups to support and accelerate the energy industry’s transformation and Microsoft’s commitment to sustainability," Krishnaswamy continued. "We will do this by helping them optimize how they use Azure and its many services, partnering with them to develop new data and AI models and listening to their unique problems and challenges to inform new, industry specific platforms and services."

Ion's Smart and Resilient Cities Accelerator 

Quote

Redmond, Washington-based Microsoft also is an established partner of The Ion and a founding sponsor of The Ion's Smart and Resilient Cities Accelerator. The tech giant "will play a role in professional and workforce development through support of The Ion's various community and startup initiatives," including hosting advancement opportunities and supporting future accelerators for advanced manufacturing, digital skilling and smart and resilient city innovation, Rice Management Co. said.

 

Other Information and Tenants:

Quote

Rice Management Co. confirmed that more than half of The Ion's space is now committed to end users.

A leasing brochure from commercial real estate firm Savills shows the fourth and fifth floors each feature roughly 50,000 square feet dedicated to premium office spaces.

Dallas-based Common Desk will operate 58,000 square feet of flexible coworking space on The Ion's second floor. California-based energy giant Chevron Corp. (NYSE: CVX), which was the first tenant to sign a lease this summer, will have an office on The Ion's third floor, which is for enterprise tenants seeking office space of around 5,000 square feet and up.

   

 

Both Chevron and Microsoft are among the most elite companies on the Fortune 500 list. Chevron is No. 15 this year, and Microsoft is No. 21.

Shop Architects was the design architect for The Ion, while Gensler serves as architect of record and interior architect. Gilbane is the general contractor for the project.

 

Lot of exciting and interesting things happening here. 

[hindesky 46515]

https://www.houstonchronicle.com/business/article/Microsoft-signs-on-as-major-tenant-at-the-15811801.php

 

In another win for Houston’s technology sector, Microsoft has leased space in the Ion, the former Sears building in Midtown that Rice University is redeveloping into a collaborative hub for innovation.

“Having Microsoft as a major tenant is a huge step forward in realizing the vision for the Ion as a dynamic hub bringing together key elements of innovation in Houston,” Rice President David Leebron said in a press release.

The amount of space Microsoft will on the building’s fifth floor was not disclosed. In addition to becoming a tenant, it will play a role in professional and workforce development through community and start-up initiatives to be housed at the Ion. The Redmond, Wash.-based company will host executive forums and virtual symposiums, according to Rice Management, which manages Rice University’s $6.5 billion endowment fund and is overseeing the development.

 

 

Rice Management would not disclose how much space is being leased, but said that more than 50 percent of The Ion’s space is committed to by tenants such as Microsoft and Chevron Technology Ventures.

Once completed, the facility will host engineers that work with Microsoft’s Azure cloud computing platform, on data and artificial intelligence and product development, Ravi Krishnaswamy, corporate vice president of Azure Commercial Industry said in a statement. The team will focus on working with customers, partners and startups to help the energy industry’s transition to more sustainable strategies.

In August, Microsoft announced a $1 million investment into social entrepreneurship programs in partnership with the Ion. It will focus support on startups in Houston with a diversity of founders. The company is also supporting initiatives to address health disparity by informing civic and government leaders on air quality.

 

City leaders have long touted the importance of growing Houston’s technology sector.

“Over the last several years, Microsoft has made it clear it is committed to Houston,” Mayor Sylvester Turner said in a press release. “This news is an exciting next step in our partnership with Microsoft as we continue to grow Houston's innovation ecosystem and become a leader in the global energy transition.”

Rice announced Chevron Technology Ventures, an arm of the oil and gas giant that scouts and funds energy-related tech startups, as its first tenant for the building over the summer. The company will occupy space on the third floor.

 

 

The Ion is designed to anchor a 16-acre “innovation district” in the Midtown area that focuses on bringing together entrepreneurs, incubators, accelerators, corporations and academics, and the community at large when it opens next year.

The 288,000 square-foot building at 4201 Main will include shared workspace, prototyping and maker resources, event space, classrooms and communal areas with shared amenities.

Houston once had a thriving technology scene with Compaq Computer Corp., BMC Software and smaller companies in related industries.

Microsoft’s move is only one example of a recent win for Houston’s tech scene. Earlier this month, Hewlett Packard Enterprise’s announced it planned to move it’s headquarters to Houston, which may not result in a lot of new jobs, but it could be a catalyst to bring more companies to the region.

 

There are no current plans to change Microsoft’s existing space in Houston at Town and Country as a result of this expansion.

nancy.sarnoff@chron.com

[corbs315 515]

15 hours ago, hindesky said:

 

The amount of space Microsoft will on the building’s fifth floor was not disclosed.

 

proofreaders...😒

[Highrise Tower 33231]

On 12/17/2020 at 4:06 PM, H-Town Man said:

 

Can someone fill in us non-subscribers? How much space are they leasing? What type/purpose of office?

 

[hindesky 46515]

[hindesky 46515]

Lots of interior work on the old Fiesta.

[hindesky 46515]

I saw a few workers at the parking garage block, asked one of them when they are going to start working on it, he said  "Enero". I just wonder if it will be a precast or built in place? 

 

[Urbannizer 44117]

 

 

 

[toxtethogrady 807]

On 12/13/2020 at 2:10 PM, clutchcity94 said:

How amazing would it be if Elon buys out all of the existing pre-leases at the Ion and turns the entire building into Tesla’s new headquarters! Smack dab in the middle of the energy capital of the world.

 

Would take some major balls, but I can see Elon doing something like that now that he has moved to Texas officially.

Musk seems to be much more interested in Austin. I guess the return of Compaq (now known as HP Enterprise) is the most Houston can expect, at least until some serious VC money starts being made available for industries outside of oil and gas...

[hindesky 46515]

They have cut out the walls for windows at the old Fiesta.

Adding new siding to the entrance.

Running conduit for the parking garage build.

Porch floor is going in.

[hindesky 46515]

I drive by this east side on Caroline St. every day I go to work in order to get to the San Jacinto on ramp. I don't recall these glass blocks. I think they uncovered them.

[phillip_white 1910]

22 hours ago, hindesky said:

I drive by this east side on Caroline St. every day I go to work in order to get to the San Jacinto on ramp. I don't recall these glass blocks. I think they uncovered them.

The glass block windows have been there the whole time.

[Montrose1100 3714]

The Lighting is cool around the rim of the "crown". Hopefully it circle the whole building and not just the 3/4ths that is lit now.

[dbigtex56 1211]

The goal of Rice U. and the architects seems to be to create an active lively urban scene with amenities to attract people and promote interactions. 
Half-Price Books would fit in admirably with this scheme. Its inclusion would be mutually beneficial.

[H-Town Man 4989]

17 hours ago, dbigtex56 said:

The goal of Rice U. and the architects seems to be to create an active lively urban scene with amenities to attract people and promote interactions. 
Half-Price Books would fit in admirably with this scheme. Its inclusion would be mutually beneficial.

Couple of problems.

1. Techies hate used books. They think they're silly. They think Steve and Jeff ended the need for books for intelligent people.

2. Used book stores generally cannot afford rent in newly constructed/renovated buildings. They like older shopping centers.

[dbigtex56 1211]

1 hour ago, H-Town Man said:

Couple of problems.

1. Techies hate used books. They think they're silly. They think Steve and Jeff ended the need for books for intelligent people.

2. Used book stores generally cannot afford rent in newly constructed/renovated buildings. They like older shopping centers.

I see what you're saying, and you make valid points. 
My impression is that one of the goals of this facility is to integrate it into the surrounding community, so that the developers and techies could draw inspiration from other sources. There's a tendency for people who surround themselves with others much like themselves to become stale. A couple of well-worn cliches seem applicable ("Echo chamber" and "thinking inside the box").
A bookstore would provide a break from their routine, and allow for socializing and the exchange of ideas that could provide different perspectives and lead to unexpected insights.
This is not a typical investor and developer driven project. The techies are being subsidized. Many tech companies were started literally in someone's garage, because that's all they could afford. It's not as if they're going to be paying market rates here.
This is a large project. I don't have the square footage available, but it's sizable. I'm suggesting that setting some aside for Half-Price Books is an idea worth examining.

[Texasota 2933]

I think Rice (or anyone really) should buy 1700 N Main, restore it, and make it a Half Price Books. 

[Houston19514 4621]

 

I think Rice (or anyone really) should buy 1700 N Main, restore it, and make it a Half Price Books. 

Not sure there is much salvageable in that building, unfortunately.  Have you seen it from above?

[clutchcity94 379]

1 hour ago, H-Town Man said:

Couple of problems.

1. Techies hate used books. They think they're silly. They think Steve and Jeff ended the need for books for intelligent people.

2. Used book stores generally cannot afford rent in newly constructed/renovated buildings. They like older shopping centers.

The problem is Half Price Books wants to pay Half Price Rent. Not going to work.

Edited January 7 by clutchcity94

[clutchcity94 379]

20 minutes ago, Texasota said:

I think Rice (or anyone really) should buy 1700 N Main, restore it, and make it a Half Price Books. 

Or how about 368 Fairview? It’s a beautiful building (albeit very dilapidated), but I could totally see a HPB in there. That way they can stay in the neighborhood (Montrose) as well.

[H-Town Man 4989]

18 hours ago, dbigtex56 said:

There's a tendency for people who surround themselves with others much like themselves to become stale. A couple of well-worn cliches seem applicable ("Echo chamber" and "thinking inside the box").

Those of us observing the tech revolution from the outside can see this problem very well. But from inside, it's invisible/not a problem. They think they are on the frontiers of thinking, the Leonardos and Galileos of today's world, even though most of them are just finding clever ways to sell ads and keep people scrolling. 

So you're in a position of trying to give them medicine they don't think they need. And although the project is subsidized, the reason for the subsidies is Houston's desperate need for tech industry. If you're trying to get them to come to you, it's not really the moment to tell them they should try out new interests.

 

[zaphod 444]

I don't agree, I don't think the web delivery app types are what this intends to attract. Everything I've read suggests this is more about cloud and data science type stuff as applied in health care, industry, etc.

[H-Town Man 4989]

3 hours ago, zaphod said:

I don't agree, I don't think the web delivery app types are what this intends to attract. Everything I've read suggests this is more about cloud and data science type stuff as applied in health care, industry, etc.

I was generalizing about the overall tech industry and its culture. Even if the companies we get are different, the culture follows a larger pattern for the entire industry. An example is casual dress. This was pioneered by Silicon Valley companies like Google and now any tech company in the world just about will have its whole workforce coming to work in faded jeans and t-shirts. You could offer one of them an Armani suit and they would frown and shake their head. The slouchy clothes are a symbol of elite status (because great innovators wear slouchy clothes, not suits) and indicate their membership in the guild.

 

[hindesky 46515]

[Andrew Ewert 154]

On 1/8/2021 at 1:32 PM, H-Town Man said:

An example is casual dress. This was pioneered by Silicon Valley companies like Google and now any tech company in the world just about will have its whole workforce coming to work in faded jeans and t-shirts. You could offer one of them an Armani suit and they would frown and shake their head. The slouchy clothes are a symbol of elite status (because great innovators wear slouchy clothes, not suits) and indicate their membership in the guild.

Counterpoint, this is because suits are expensive and uncomfortable, and are and always have been dumb.

[H-Town Man 4989]

2 hours ago, Andrew Ewert said:

Counterpoint, this is because suits are expensive and uncomfortable, and are and always have been dumb.

Many articles of clothing that people find pleasing are expensive and uncomfortable. You are applying reason to fashion, which... well, good luck.

 

[zaphod 444]

As a lower middle class slob I wish I had more opportunities to wear a suit sometimes. I happen to think I look good in one.

But yeah, going to work everyday like that would be awkward. It's nice to look good in the office though, I have co-workers who come in with t-shirts with holes in them and I'm like, really?

Edited Saturday at 12:29 AM by zaphod