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Market Square Tower: 40-Story High-Rise for Downtown


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Got to take a hardhat tour of the site yesterday. Still a lot of work to be done. They're shooting for an October 26th grand opening, with about the first 15 or 16 floors complete at that time. The 39

That's a great shot.  And to give an idea of how much things have changed from this angle recently, below I have attempted to highlight everything that's new in the last 15 years:

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The surface lot next to the Market Square Parking Garage will be closing on July 6th due to upcoming construction.  As I recall, this project is to be residential.

 

Thats what I hear... But what is the source if you don't mind me asking.

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Oh so true, more then a sticker shock. He has 5 more years to retire. Good idea One Park Place.

OPP has an occupancy rate reportedly in the low 90% range. I suggest that he look there "early" in his process.

If outside of downtown would work for him, try Windsor highrise on Studemont and memorial. The views facing downtown are shockingly lovely. He could also rent a condo at the royalton. Similar views.

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Scrape my theory. This is no longer just a quick soil sample and then bring back the parking until construction like we've seen with other projects. Looks like this is actually the beginning of construction and here's why I say all of this... I'm on the lot right now and they have completely removed everything. There's no sign indicating this is parking anymore and they have scraped off the payment machine. Looks like this an early go but let's wait for a press release perhaps.

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Do we know if the parking garage is part of the development? Will it be torn down and a new one built or will it be saved and simply incorporated into the project? Or, I guess, is that garage not part of the development at all and the new building will have a new garage?

The Downtown development map shows the whole block as this new project (I seem to recall). So, is the garage coming down or staying?

Edited by UtterlyUrban
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woah! pool on the 40th floor?! niceeee... that will be by far the tallest pool in the city. and i really dig the design too. its understated, yet something about it is elegant. perfect for market square.

Edit.. just noticed the rooftop pool is cantilevered with a glass wall. NICE!!

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From Bob Eury:

 

Tomika,

 
Thank you for your interest and letting us know of your concerns about the new residential building to the west of Market Square. The project is being developed by BMS, owner of the entire block 35 for many years. Their plans include Market Square Garage which will primarily serve the residents of the new building. In review of the plans the District took into consideration the active ground floor uses on the entire block which includes reuse of the existing retail space along Congress and Milam, new retail space along Preston and the entrance and lobby area. Total retail space in the project is over 22,000 square feet or 35% of the block, and 59% of the block will have active ground floor uses including the retail space. We support the owners' desires to have the front door on Milam Street at the park and have encouraged them on the design of the entry area to make it as open as possible. Adding 600 to 700 new residents from the building to the Market Square neighborhood will be a real boost to pedestrian activity and patronage at existing and new food and beverage establishments and other retail.
 
Best regards,
Bob Eury

 

 

I am not sure what he meant by the front door being on the park. By now it is clear that the front door is on Preston - this based on the footprint of the building and the article's mentioning of the rooftop pool being on the south side of the building.

 

I am trying to figure out where the new GFR will be, if there really is any. There is apparently an entrance driveway on Milam, and an exit driveway coming out on Preston, based on the curb cuts in the rendering (strange why this is necessary though, considering that the garage already has an existing entrance/exit on Milam). I am hoping that the space in between them on the corner, the 1x3 bay section, will be ground floor retail of some sort. It looks kind of open air though in the rendering, so I have my doubts.

 

Looking at the existing ground floor retail space in the garage, which wraps from Milam all the way down Congress to Louisiana for a grand total of two tenants, it looks like this might by itself by the 22,000 sf / 35% of the block that Eury was talking about above, and there is no new retail space in the plans. If so, what a shame.

 

 

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classic design that should fit in well in the historic district... having this and hines' market square project delivering near the same time will be fantastic, assuming the market can absorb 800 units within a block of each other :blink:

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woah! pool on the 40th floor?! niceeee... that will be by far the tallest pool in the city. and i really dig the design too. its understated, yet something about it is elegant. perfect for market square.

Edit.. just noticed the rooftop pool is cantilevered with a glass wall. NICE!!

It will be the highest pool in the state, beating out the Four Seasons Residences pool in Austin. :)

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Do local Hines-types ever want the whole top floor for themselves and guests? Like the skyboxes of a stadium for when you pop into town? Does Hines have a place in town?

My first thought when I saw the top floor and pool: "man, that will be one expensive Penthouse apartment!"

Of course, it could be communal.... But, it might also be rented space! Time will tell.

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The financial incentive will be paid for the first 5,000 residential units under contract to participate in this Program or for a four year period from July 2012 through June 30,2016

 

http://www.downtownhouston.org/site_media/uploads/attachments/2014-05-06/140506_Combined_Toolkit_Program_Description__Eligibility_1.pdf

.

 

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Anyone have any thoughts on how long it will take to open this one?

Skyhouse is much smaller and is about 16-18 months now as I recall

2929 Weslayan is about the same size and still has a lot more to be done..... When did it start?

My guess on this new building: 28 months from groundbreaking to move-in. Sound right? Aggressive?

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I am not sure what he meant by the front door being on the park. By now it is clear that the front door is on Preston - this based on the footprint of the building and the article's mentioning of the rooftop pool being on the south side of the building.

 

I am trying to figure out where the new GFR will be, if there really is any. There is apparently an entrance driveway on Milam, and an exit driveway coming out on Preston, based on the curb cuts in the rendering (strange why this is necessary though, considering that the garage already has an existing entrance/exit on Milam). I am hoping that the space in between them on the corner, the 1x3 bay section, will be ground floor retail of some sort. It looks kind of open air though in the rendering, so I have my doubts.

 

Looking at the existing ground floor retail space in the garage, which wraps from Milam all the way down Congress to Louisiana for a grand total of two tenants, it looks like this might by itself by the 22,000 sf / 35% of the block that Eury was talking about above, and there is no new retail space in the plans. If so, what a shame.

 

 

We went roundy round on this before, but I still think if the porte cochere is done well, it will look good from the park, and this thing will make the old Kim Son space more valuable. One could call the entrance of OPP facing Discovery Green its front door, but I never see anyone going in or out of it (to say nothing of the empty GFR space next to it), they all seem to use the covered drive on McKinney. The Kim Son location could be equivalent to Phonecia in this case. Not facing the park, but right there. With this and Hines a block away, there has to be some critical mass for something other than typical downtown stuff.

 

They are going to have to do something different with the existing garage entrance off Milam, I would imagine, although by the time they are done, the whole entrance/exit/ground floor situation of the garage as it sits now might need to be completely reconfigured, how they can do that has to be a limiting factor.

 

The design looks good to me. Can't wait to see the area in 5 years, especially if the surface lot block is claimed.

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I am not sure what he meant by the front door being on the park. By now it is clear that the front door is on Preston - this based on the footprint of the building and the article's mentioning of the rooftop pool being on the south side of the building.

 

I am trying to figure out where the new GFR will be, if there really is any. There is apparently an entrance driveway on Milam, and an exit driveway coming out on Preston, based on the curb cuts in the rendering (strange why this is necessary though, considering that the garage already has an existing entrance/exit on Milam). I am hoping that the space in between them on the corner, the 1x3 bay section, will be ground floor retail of some sort. It looks kind of open air though in the rendering, so I have my doubts.

 

Looking at the existing ground floor retail space in the garage, which wraps from Milam all the way down Congress to Louisiana for a grand total of two tenants, it looks like this might by itself by the 22,000 sf / 35% of the block that Eury was talking about above, and there is no new retail space in the plans. If so, what a shame.

 

"new retail space along Preston"

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now now arche_757.. i am thinking that our initial and yet reluctant responses.. were due to the simple fact that the first rendering was not as SEXY as the above masterpiece.  complete with a cherry (sorry) pool on top!

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Will this have any effect on Hines market square project or do you think that they will go ahead with theirs.

On the office space side Hines starting 609 Main seemed to take the sails out of Stream Essex's project.

Just wondering if this would have a similar result. I am well aware of the size and scope of the work Hines does but I just

don't see the urgency to get their project going like this one has. Any thoughts?

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