New life in downtown Houston?
One Park Place successful
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When Marvy Finger decided to move forward with development of One Park Place — Houston’s first residential high-rise in 40 years built from the ground up — during the midst of the economic downturn, he was somehow sure it would be a home run, says a story in Houston Business Journal.
Many didn’t share that confidence, but the success of One Park Place not only proved naysayers wrong, it seems to have given downtown a much-needed boost to spur more development.
Earlier this month, the former Texaco building at 1111 Rusk, between Fannin and San Jacinto streets, went under contract to a Dallas-based buyer who plans to redevelop it into apartments. This would represent the second major downtown complex to come online in the last couple of years.
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.(JavaScript must be enabled to view this email address) said:
Too bad that the proposed residential component at Houston Pavillions was not included in the final implementation. It would have served to improve the usability of the development and would probably up’ed the retail tenancy rate. I applaud the group that aims to redevelop the Texas Co. building and hope that a critical mass of residents and needed retail and services to residents can be achieved in the CBD.
Posted on May 24, 11 at 10:32 am