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Levit Green: Life Science Mixed-Use District By Hines


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On 6/15/2020 at 7:30 PM, Lux said:

An amalgam of life science clusters from 288 to the TMC would be a beautiful thing, and it’s going to take massive CRE Life Sciences investments, in addition to TMC3, for Houston to rise by leaps and bounds in the U.S. Life Science cluster rankings (JLL, CBRE, etc.).  Thoughts?

There's not a lot of space to buy low and sell high when a field is already as superheated as life sciences has gotten.  This literal field owned by 2ML, can still sell higher, yes; but the industry itself?


TMC is great, but as an industry cluster, if you look at the burn rate required of the top ten areas just to stay in the top ten, Houston has almost no shot to ever break into the top six or eight, let alone five.  So is rising from third tier to second tier in a currently important prestige niche actually important enough to justify the opportunity cost?  The cost of not putting that toward an area that is more distinctive to our local character and would make us more headway?  IMHO no.  Life sciences are just something like "cyber" that seems totally investable and inevitable -- that is to say, lucrative without the risk of looking professionally foolish that, say, going to bat for something more creative but less recognizable would carry.


In that sense, this highly costly upside opportunity is the functional equivalent of what mixed use development itself suddenly became for the commercial real estate and institutional investment fields of business.

Edited by strickn
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The things I've been reading about the coronavirus and its effect on work-from-home, hotels, retail, etc, sound apocalyptic for urban development, at least in the near term.


In contrast, medical research labs and clinics inherently by their nature favor a physical presence of people and workers. And the people who work in these places tend to be well paid, and for various reasons they like to live reasonably close to where they work. And of course they go and eat and buy things nearby and visitors stay in hotels, etc.


Seems like a development like this would be a slam dunk and a really safe bet during all that's going on right now, and I would think investors would be wanting to pull their money out of other projects with less certain futures and throw it behind stuff like this instead.

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Houston could be catching some tail winds if/when life science research gets a boost in funding or a shot in the arm due to effects of Covid. I hope our local  legislators and public/private advocates rise to the challenge/opportunity. 

Edited by kdog08
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Man, if they have set up a tree preservation zone warding off potential construction workers...you wouldn't do that unless this thing is really underway, right? I'm getting Ion-levels of "is this really happening right now?"  I'm sure dredging/digging up that area to create that pond is going to take a lot of time, and meticulous planning to not have it flood. They could be racing to have everything prepped by the time hurricane season ends so they don't have to worry tooooo much about torrential rain when they hit the digging part. An underrated part of this development is that its v accessible via bike/bus infrastructure.


Still can't believe this is moving forward, or that they've already started to do this much work. Thanks for the pics!

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On 10/21/2020 at 12:15 AM, Urbannizer said:


They're listing 84.55-acres total. C&S Wholesale Grocers across the street is planned to sell soon? The early renderings included the extra land, but Hines only bought half of it.


3M-5M SF of building space for phase 1. This will be awesome.










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