swtsig

why in the hell do we have multiple posts in row debating bronze sculptures when we have a new rendering???

it's not posted on his website anymore but this morning Ralph Bivins announced that Hines was on the verge of kicking off block 58. V&E has long been rumored as the lead tenant and Ralph confirmed as much. Here was his write up:

HOUSTON - (Realty News Report) - Houston's next skyscraper - expected to be a 48-story, 1 million-SF tower - is quickly moving toward a construction start with the anticipated signing of an anchor tenant in the offing, Realty News Report has learned.

 

Hines will develop the tower on the site of the former Houston Chronicle building, which was demolished and is now a surface parking lot. The site, known as Block 58, is bounded by Texas Avenue, Travis, Milam and Prairie.

 

The Vinson & Elkins law firm is expected to sign a lease soon for approximately 250,000 SF, which is enough to accelerate the timetable for development. Vinson & Elkins' current lease in the 1001 Fannin building, formerly known as First City Tower, expires in 2021 and construction work needs to start soon to meet the law firm's deadline. No formal lease announcement has been made, but people in the real estate community say it appears to be close to a done deal.

 

The new Hines building is designed to be 36 stories of office space stacked atop a 12-level podium with street-level restaurants, a hospitable lobby, a fitness center and a parking garage with landscaped terraces. The building is expected to feature a distinctive crown to mark this new addition to the Houston skyline by the international development firm founded by master developer Gerald D. Hines in 1957.

 

The new building will be across the street from the 75-story JPMorgan Chase Tower, completed by Hines in 1982. It's the tallest building in Texas.

 

Hines recently completed two other towers nearby, the 609 Main at Texas and the Aris Market Square residential high-rise.  And, of course, there are a number of other Hines skyscrapers within walking distance.

 

A Hines partnership bought the Chronicle property for $54 million in 2015. The purchase included 99,184 SF of downtown land -- the full block where the 10-story Chronicle building stood at 801 Texas; and a half-block at Prairie and Milam, the site of the Chronicle's garage. The Chronicle site is connected to the tunnel system.

 

Although it will take a couple of years to complete, the Hines building is emerging at a time when the downtown office market has been struggling as it recovers from a downturn in the energy business. Downtown is weakened with an overhang of 2 million SF of sublease space and an availability rate of 20 percent. And Skanska is constructing a 750,000-SF tower that will hit the Central Business District in about a year.

 

So it seems like the glut of downtown office space is going to get worse.

 

But not all office space is created equal. New amenity-filled buildings   with great design, high ceilings and lots of light and glass are appealing to businesses that want to retain and recruit employees. Outstanding new buildings lure tenants away from older office space. Old and obsolescent space descends to Class B status and beyond, unless there are major upgrades.  

 

The Houston office market has a history of resiliency and the ability to revive quickly. So conditions could improve considerably by the time the Hines tower is completed on Block 58.

HOUSTON - (Realty News Report) - Houston's next skyscraper - expected to be a 48-story, 1 million-SF tower - is quickly moving toward a construction start with the anticipated signing of an anchor tenant in the offing, Realty News Report has learned.

 

Hines will develop the tower on the site of the former Houston Chronicle building, which was demolished and is now a surface parking lot. The site, known as Block 58, is bounded by Texas Avenue, Travis, Milam and Prairie.

 

The Vinson & Elkins law firm is expected to sign a lease soon for approximately 250,000 SF, which is enough to accelerate the timetable for development. Vinson & Elkins' current lease in the 1001 Fannin building, formerly known as First City Tower, expires in 2021 and construction work needs to start soon to meet the law firm's deadline. No formal lease announcement has been made, but people in the real estate community say it appears to be close to a done deal.

 

The new Hines building is designed to be 36 stories of office space stacked atop a 12-level podium with street-level restaurants, a hospitable lobby, a fitness center and a parking garage with landscaped terraces. The building is expected to feature a distinctive crown to mark this new addition to the Houston skyline by the international development firm founded by master developer Gerald D. Hines in 1957.

 

The new building will be across the street from the 75-story JPMorgan Chase Tower, completed by Hines in 1982. It's the tallest building in Texas.

 

Hines recently completed two other towers nearby, the 609 Main at Texas and the Aris Market Square residential high-rise.  And, of course, there are a number of other Hines skyscrapers within walking distance.

 

A Hines partnership bought the Chronicle property for $54 million in 2015. The purchase included 99,184 SF of downtown land -- the full block where the 10-story Chronicle building stood at 801 Texas; and a half-block at Prairie and Milam, the site of the Chronicle's garage. The Chronicle site is connected to the tunnel system.

 

Although it will take a couple of years to complete, the Hines building is emerging at a time when the downtown office market has been struggling as it recovers from a downturn in the energy business. Downtown is weakened with an overhang of 2 million SF of sublease space and an availability rate of 20 percent. And Skanska is constructing a 750,000-SF tower that will hit the Central Business District in about a year.

 

So it seems like the glut of downtown office space is going to get worse.

 

But not all office space is created equal. New amenity-filled buildings   with great design, high ceilings and lots of light and glass are appealing to businesses that want to retain and recruit employees. Outstanding new buildings lure tenants away from older office space. Old and obsolescent space descends to Class B status and beyond, unless there are major upgrades.  

 

The Houston office market has a history of resiliency and the ability to revive quickly. So conditions could improve considerably by the time the Hines tower is completed on Block 58.

On 4/9/2018 at 5:55 PM, Houston19514 said:

 

They were at close to 60% leased when the building oprned almost a year ago.

they'll be about 95% leased in the very near future.

edit: i'm talking about 609, not capitol tower

1 hour ago, wxman said:

So just for clarity, there are two towers, yes?

 

block 42: 46 stories, all residential.

block 58: skyscraper, office. Floors unknown.

 

Just checking.

correct. block 58 could have a mixed use component but office for certain.

hines is incredibly active in houston right now.