In the News
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Featured News
Houston Astros mixed-use project to generate billions
Jul 10, 2024
The Houston Astros’ mixed-use entertainment district project planned next to Minute Maid Park is expected to be a significant driver of economic activity downtown.
The project — a 17-story, 300-key hotel plus approximately 60,000 square feet of retail and entertainment space — is expected to generate $5.7 billion in economic impact over 20 years, said Giles Kibbe, Astros senior vice president and general counsel. Kibbe described the project as transformational for downtown Houston as stakeholders continue to reimagine and revitalize the city’s core.
“We know that we will be designing and building it not just for the Astros, but for the city of Houston and for the convention center, as well,” Kibbe told the Houston Business Journal.
The project — a 17-story, 300-key hotel plus approximately 60,000 square feet of retail and entertainment space — is expected to generate $5.7 billion in economic impact over 20 years, said Giles Kibbe, Astros senior vice president and general counsel. Kibbe described the project as transformational for downtown Houston as stakeholders continue to reimagine and revitalize the city’s core.
“We know that we will be designing and building it not just for the Astros, but for the city of Houston and for the convention center, as well,” Kibbe told the Houston Business Journal.
Chandler France, Houston Business Journal
What Houstonians Really Want From the Downtown Area
Jun 12, 2024
Nearly a month after that devastating derecho, a number of downtown Houston streets and sidewalks are still closed to repair damaged buildings. At least eight people died during that May 16 storm. Downtown windows in several high-rises shattered, among other storm debris that is still, in some cases, being replaced.
Despite that, there have been longstanding efforts to engage Houstonians in visiting downtown to shop, dine, and take in entertainment. But like anything, it could be better.
That's where we turned to you and your fellow Houstonians, asking how downtown could be more of a destination than it currently is? If you could get really creative — even if you had to start from scratch — what would you want to see there that's not there now?
Despite that, there have been longstanding efforts to engage Houstonians in visiting downtown to shop, dine, and take in entertainment. But like anything, it could be better.
That's where we turned to you and your fellow Houstonians, asking how downtown could be more of a destination than it currently is? If you could get really creative — even if you had to start from scratch — what would you want to see there that's not there now?
Houston Matters with Craig Cohen / Houston Public Media
Derecho Devastation Underscores Need for Disaster Preparation
Jun 5, 2024
"You could see the sky darkening, you thought a storm was coming, but you didn't really think much of it," says Kris Larson, president and CEO of Central Houston, a nonprofit that advances the vision for downtown Houston. "You thought it was going to be your average summertime thunderstorm, and it turned into something very different very fast."
According to Larson, about a dozen businesses in the downtown area were damaged by the derecho, including four to five thousand windows that were shattered.
So far, Larson estimates that recovery efforts are about 70 percent complete. Larger companies like Chevron -- the downtown area's largest employer, with a workforce of 9,000 people -- are still operating remotely in an effort to alleviate the strain on roadways and the street grid, which have been impacted by numerous closures. Smaller businesses, Larson says, have brought in crews to work around the clock to clean up the debris, aiming to return to normal operations as swiftly as possible.
According to Larson, about a dozen businesses in the downtown area were damaged by the derecho, including four to five thousand windows that were shattered.
So far, Larson estimates that recovery efforts are about 70 percent complete. Larger companies like Chevron -- the downtown area's largest employer, with a workforce of 9,000 people -- are still operating remotely in an effort to alleviate the strain on roadways and the street grid, which have been impacted by numerous closures. Smaller businesses, Larson says, have brought in crews to work around the clock to clean up the debris, aiming to return to normal operations as swiftly as possible.
Inc.
The Future of Texas Cities: As Growth Explodes, Urbanists Weigh In
May 31, 2024
While young professionals have responded positively to urban renewal efforts across the country over the last two decades, a few key hurdles remain: namely affordability, mobility and safety. In an effort to better understand the unique challenges faced by each of Texas’ four major cities, the Austin Business Journal recently gave a platform to urban advocates from across the state.
Austin Business Journal
Downtown Houston+ begins cleaning up shattered glass, toppled trees after severe storm
May 18, 2024
The severe storm that rolled through Houston on May 16 hit downtown hard, blowing out hundreds of office windows and leveling much of the area’s greenery.
But by the next morning, Downtown Houston+ had more than 170 people downtown cleaning up shattered glass, even as shards continued to fall from about 15 office towers that suffered damage.
Downtown Houston+ President and CEO Kris Larson told the Houston Business Journal that he and his team got to work last night after the storm wound down, focusing on a 12-block area bordered by McKinney Street to the north, Polk Street to the south, Smith Street to the west and Main Street to the east.
“There’s almost like a blast area where the storm was most strong,” Larson said. “The No. 1 priority is the glass, which is everywhere. We’ve had to bring in dump trucks and front-end loaders to handle a lot of the glass and debris. But we’ve got people out here with push brooms as well. They’re wearing hardhats because there’s still falling glass coming down.”
Downtown Houston+ is working with the Houston Police Department to secure the areas that were most affected, closing off streets and sidewalks to allow cleanup crews to move freely.
But by the next morning, Downtown Houston+ had more than 170 people downtown cleaning up shattered glass, even as shards continued to fall from about 15 office towers that suffered damage.
Downtown Houston+ President and CEO Kris Larson told the Houston Business Journal that he and his team got to work last night after the storm wound down, focusing on a 12-block area bordered by McKinney Street to the north, Polk Street to the south, Smith Street to the west and Main Street to the east.
“There’s almost like a blast area where the storm was most strong,” Larson said. “The No. 1 priority is the glass, which is everywhere. We’ve had to bring in dump trucks and front-end loaders to handle a lot of the glass and debris. But we’ve got people out here with push brooms as well. They’re wearing hardhats because there’s still falling glass coming down.”
Downtown Houston+ is working with the Houston Police Department to secure the areas that were most affected, closing off streets and sidewalks to allow cleanup crews to move freely.
Jeff Jeffrey, Houston Business Journal
Downtown Ready to Soar
May 3, 2024
Just as modern parks and public spaces have learned that active programming really draws interest and attendance, downtown Houston appears to be adopting the playbook to boost reasons to work, live, play – and even stay there.
In a 1Q 2024 market report shared by Downtown Houston Plus – which represents Central Houston, Downtown Houston District and Downtown Redevelopment Authority – the findings’ takeaway is in its title: On Solid Ground.
“The pandemic is in the rear-view window,” said Kris Larson, CEO and president of the organization, which stewards and monitors the economic performance of downtown.
In a 1Q 2024 market report shared by Downtown Houston Plus – which represents Central Houston, Downtown Houston District and Downtown Redevelopment Authority – the findings’ takeaway is in its title: On Solid Ground.
“The pandemic is in the rear-view window,” said Kris Larson, CEO and president of the organization, which stewards and monitors the economic performance of downtown.
Realty News Report
Exclusive: Historic towers that have been a Downtown Houston landmark for nearly 100 years have been sold
May 2, 2024
A Florida real estate firm has purchased Jones on Main, a mixed-use complex that has been a landmark in downtown Houston for about 100 years.
The deal is a sign that some investors are still willing to bet on Houston office space in spite of the broader challenges facing landlords post-pandemic.
The Wideman Co., an Orlando-based real estate firm, paid an undisclosed, all-cash price for the complex on April 30, the company said. The acquisition includes the JPMorgan Chase Bank Building, a 34-story, 794,000-square-foot tower at 712 Main as well as its companion building, the Great Jones Building, a 10-story, 95,000-square-foot tower at 708 Main.
The deal is a sign that some investors are still willing to bet on Houston office space in spite of the broader challenges facing landlords post-pandemic.
The Wideman Co., an Orlando-based real estate firm, paid an undisclosed, all-cash price for the complex on April 30, the company said. The acquisition includes the JPMorgan Chase Bank Building, a 34-story, 794,000-square-foot tower at 712 Main as well as its companion building, the Great Jones Building, a 10-story, 95,000-square-foot tower at 708 Main.
Houston Chronicle