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DOWNTOWN HOUSTON Development Update
January 6, 2015
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$-
$500,000,000
$1,000,000,000
$1,500,000,000
$2,000,000,000
$2,500,000,000
$3,000,000,000
$3,500,000,000
$4,000,000,000
$4,500,000,000
1985-1990 1991-1995 1996-2000 2001-2005 2006-2010 2011-2016
Public Investment Private Investment
• $6.1 billion investment since 1987; $3 billion more by 2016 • 33% public/ 67% private
DOWNTOWN’S TRANSFORMATION
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609 MAIN AT TEXAS
• Hines • Pickard Chilton • Under construction
• 48 stories • 1,057,000 sf • Occupancy Dec ‘16
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1111 TRAVIS
• 1110 Main Partners
• 23 stories
• 475,000 sf
• 600 parking spaces
• Under construction
• Initial move-in 12/14
• Final completion 3/16
• Single-tenant building
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800 BELL
• 1.3 million sf + garage • Shorenstein owns and will
redevelop • Exxon will vacate 1Q15 • Redevelopment work
complete in 2016 • Delivery 1Q 2017 • Re-clad the building • LEED Gold • Illuminated, iconic crown • Add to parking structure
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CHEVRON, planned
• Urban Campus • Owns & occupies 1400
Smith & 1500 Louisiana • New building
– 1.7 msf, 50 stories – 1600 Louisiana
• Estimated 10,000 jobs total on the campus after new building
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CAPITOL TOWER, planned
• Skanska • 750,000 sf, 35 floors • Parking garage u/c • Go-ahead for tower TBD
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RESIDENTIAL
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UNITS Current Units 2,665 Under Construction 500 Crawford 397 BMS 463 Old Texaco 323 Block 334 207 Marquette 361
1,751 Planned Hines 274 Allied Orion 302 Camden 550 Leon Capital 220 Crow - Block 98 314 Crow Resid 264 Cosmo/Realtex/#166 209 Marlowe (Blk 275) 100
2,233 Total u/c or planned: 3,984 Units if all built 6,649
149%
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1 development recently completed 6 under construction
9 planned
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SKYHOUSE HOUSTON
• Opened July 2014
• Developer: Novare Group
• 24-story, 336 rental units
• Target 25- to 34-year-old professional singles
• 577-1,400 sf, priced around $2.50/sf/month
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BLOCK 334
• Developer: Alliance Residential • Block 334 – Main / Fannin / Leeland / Bell • Under construction • 5 stories • 207 units • Opens 2Q 2015
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500 CRAWFORD
• Developer: Finger Properties • Under construction, open 2Q 2015 • 7 stories • 397 units
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1111 RUSK / OLD TEXACO BLDG.
• Developer: Provident Realty Advisors
• 309 luxury apartments, 1,065 sf average
• New 550-car garage • Under construction to
4Q15 • $95 million
redevelopment • Built 1915, 1938 • 425,000 square feet
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MARKET SQUARE TOWER
• Developer: Woodbranch Investments (affiliate of BMS)
• 40 stories • 463 rental units • $1,800 - $5,800/month • Under construction to
1Q17
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BLOCK 52
• Developer: Marquette Companies
• 28 stories • 361 units • Under construction • Est opening 4Q16 • Texas / Austin /
Prairie / LaBranch
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HINES RESIDENTIAL, proposed
• Developer: Hines
• 32 stories
• 274 rental units
• Construction 1Q15 – 3Q16
• 327,000 square feet
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BLOCK 384
• Developer: Allied Orion Group
• 10 stories, 302 units • 5 street-level live-work
units • Est. start 4Q2014 • Complete 3Q 2016 • St. Joseph / San
Jacinto / Jefferson / Caroline
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CAMDEN PROPERTY TRUST, proposed
• Developer: Camden Property Trust
• 20 stories each • 550 units total • Phase 1: Block 330
– 1Q15 – 1Q17 – 10/14: former structures
cleared, no parking
• Phase 2: Block 346 – 1Q17 – 1Q19
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SKYHOUSE MAIN
• Developer: Novare Group
• 24-story, 336 rental units
• Target 25- to 34-year-old professional singles
• 577-1,400 sf, priced around $2.50/sf/month
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INTOWN LIVING
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INTOWN LIVING
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HOTEL
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1 recently completed 5 under construction
3 planned
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JW MARRIOTT
• Developer: Pearl Hospitality
• Former 806 Main office building
• 328 rooms • Meeting space • Built 1910 • Opened November 2014
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MARRIOTT MARQUIS
• Houston First Corp. • Rida Development • ~1,000 rooms • Under construction • Opens 3Q16 • 1,800-space parking
garage north of GRBCC
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SPRINGHILL SUITES
• 3-building complex purchased by RLJ Lodging Trust
• Cost: $79.5 million • Will convert 82-unit
residential tower to 166-room hotel
• Complete 2Q15
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HAMPTON INN/HOMEWOOD SUITES
• 14 stories • $50 million • Hampton Inn: 168
rooms • Homewood Suites:
extended stay, 132 rooms
• Under construction • Completion 1Q16
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HOTELS, planned
• Hotel Alessandra, in Greenstreet – Developer: Midway – 25 stories, 225 keys – Construction 1Q15-4Q16
• Hilton Garden Inn, next to 1415 Louisiana – Developer: Wedge – 12 stories, 230 keys – Construction 1Q15-1Q16
• Hotel at GRBCC, atop parking garage – Developer: TBD – 15 stories, 225 keys
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OTHER DEVELOPMENTS
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HIGH SCHOOL FOR THE PERFORMING & VISUAL ARTS (HSPVA)
• Under construction • Opens fall 2016 • 160,000+/- sf • 700 students • ~200 parking
spaces • $80 million
project
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HIGH SCHOOL FOR THE PERFORMING & VISUAL ARTS (HSPVA)
• a
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CENTER FOR TEXAS CULTURAL HERITAGE
• Between GRBCC and Minute Maid Park, Capitol • 2-story, 60,000 sf cultural center • Explore and experience the history and culture of
Houston, the region and the state • Estimated opening 4Q16
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GRBCC IMPROVEMENTS
• Grand entry in center of GRBCC
• New retail/restaurant spaces
• Street traffic one-way and reduced to two lanes, can be closed for major events
• Completion December 2015
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SUNSET COFFEE BLDG
• 3-story, 1910 building
• Outdoor plaza – refreshments and rental facilities for runners, canoeist, kayakers, bikers
• Office space for BBP
• Event space on 3rd floor and rooftop terrace
• Open 3Q15
• $5.3 million
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UHD GARAGE/WELCOME CENTER Under construction
Three parking levels with welcome center on fourth level
Completion Fall 2015
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BUFFALO BAYOU – under construction
• 160 acres, 2.3-miles long
• $55 million project; complete summer 2015
• Goal: restore the bayou to be more natural and self-sustaining; reintroduce native park landscape; add amenities
• Complete summer 2015
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THE DUNLAVY
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TRANSPORTATION
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Drive Alone 57% Park & Ride
26%
Bus/Rail 6%
Carpool/Vanpool 9%
Other 2%
COMMUTE MODE, 2013
32% take bus and/ or train
N=12,701
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• North extension opened Dec 2013, adding 5.3 miles
• Total Red line: 12.8 miles
LIGHT RAIL
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• East-West line opens April 2015
• Results in fewer buses in downtown (rail cars carry more people)
• East/west light rail will not have priority over traffic signals
LIGHT RAIL EXTENSION 2015
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GREENLINK 2.5 mile-route 6:30-6:30 M-F 1,000 riders/ day avg User friendly CNG-fueled vehicles
SIX IN THE CITY $6.00 cash to take a cab anywhere within downtown, up to 4 riders
B-CYCLE 11 stations, 87 bikes downtown 28 stations in Houston Averaging 2,000 checkouts/ week
ZipCAR 7 downtown locations
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DOWNTOWN HOUSTON