(HOUSTON) – Hines and Ivanhoé Cambridge today announced that the new 47-story, one-million-square-foot office tower on the 800 block of Texas Avenue (the former site of the Houston Chronicle) will be named Texas Tower.
Bounded by Milam, Prairie and Travis streets, the building will become an architectural presence in Houston’s skyline, and offer a radical new approach to lobby and common-area design and activation. Designed by Pelli Clarke Pelli, the project will be built to the highest standards that Hines has ever developed in Houston, including LEED® Platinum, WiredScore and WELLTM Building Standards. Fred Clarke, senior principal with Pelli Clarke Pelli explained, “The experience of the building has been considered from every angle, designed to serve its tenants and created to help companies make bold strides into the future.”
Amenity-rich and tailored to the specific needs of tenants, Texas Tower puts its people first. Pushing the boundaries of hospitality and design, the ground-floor experience of the project features an eye-catching pavilion, soaring ceilings, and even varied food and drink options. The grand lobby will include double-height ceilings and a massive mezzanine. Texas Tower will also offer a full-featured coworking space; a high-performance, flexible fitness center; dedicated library; adaptable amenity spaces; and multiple tenant gardens on levels 12 and 13. Sharing an environment with some of Houston’s most influential people, this truly unique lobby will generate countless opportunities for creative and constructive collisions.
Ten-foot, full-height windows will allow for an abundance of natural light across the 30,000-square-foot floor plates and a sophisticated underfloor HVAC system will put comfort choices individually controlled and in the hands of occupants. Cantilevered bays on each face of the floorplate extend out and project away from the building providing opportunities for dramatic internal stairs, atriums and communal spaces, as well as potential access to fresh air and outdoor green space through balconies.
Senior Managing Director John Mooz said, “Texas Tower seemed the perfect name for what is destined to be the best new building in the Southern U.S. This powerful combination of flexible physical spaces, tenant-centric amenities, and innovative health features that are consistent with LEED and WELL programs, is poised to set new standards for office space and is the next step in human-centered workspaces.”
Chief Development Officer, Office, North America and Vice Chairman for Ivanhoé Cambridge, Arthur Lloyd, stated, “Texas Tower is the epitome of the next generation of office buildings, designed to answer future tenant needs by addressing what their employees want. We are excited to be on the front lines of cutting-edge innovation in the built environment.”
Texas Tower is 33 percent leased following the signing of two anchor tenants. Vinson & Elkins, the largest and one of the oldest law firms in Houston, has signed a 16-year lease for 212,000 square feet over the top seven floors. Hines will also relocate its global headquarters to the new building, signing a 15-year lease for approximately 155,000 square feet covering five floors. Colvill Office Properties is handling the leasing for Texas Tower which is scheduled to open in late 2021. Join the evolution here: texastower.com.
About Ivanhoé Cambridge
Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a long-term view to generate optimal, risk-adjusted returns. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint. Vertically integrated in Canada, Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,000 buildings, primarily in the residential, office, retail, industrial and logistics sectors. Ivanhoé Cambridge held more than C$60 billion in assets as at June 30, 2018, and is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada's leading institutional fund managers. For more information: ivanhoecambridge.com.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 207 cities in 24 countries. Hines has approximately $116.4 billion of assets under management, including $64 billion for which Hines provides fiduciary investment management services, and $52.4 billion for which Hines provides third-party property-level services. The firm has 109 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,319 properties, totaling over 431 million square feet. The firm’s current property and asset management portfolio includes 527 properties, representing over 224 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.