Houston Endowment Plans New Headquarters Near Buffalo Bayou Park
The Houston Endowment acquired 1.6 acres near Buffalo Bayou west of downtown. Boundary of property outlined in red.
HOUSTON – The Houston Endowment, a long-established philanthropic foundation, plans to build a new headquarters near the intersection of Memorial and Waugh drives, just west of downtown Houston.
For many years the Endowment has been headquartered at 600 Travis, the 75-story tower formerly known as the JP Morgan Chase Tower.
The new facility is expected to total roughly 35,000 to 40,000 square feet and could open in two to three years, said Ann Stern, president and CEO of the Houston Endowment. Last week the organization purchased a 1.6-acre parcel on Willia Street that overlooks Spotts Park and Buffalo Bayou.
The seller was Pinto Urban Building LLC, led by Ernie Cockrell. In 2014 Pinto Urban Building had proposed an 18-story office tower for the site, a plan that stalled after a sharp decline in oil prices impacted the Houston office market.
Gensler assisted the Endowment in evaluating this site and other potential locations, Stern said, but the firm has not yet been selected to design the building. “We want to take our time selecting an architect,” Stern added. The new headquarters will emphasize meeting and collaboration space to support philanthropic programs and community partners, and will be more than double the size of the 16,000 square feet the organization currently occupies on the sixty-fourth floor of 600 Travis.
“This is an exciting time for our organization,” Stern said. “Investing in a permanent home for Houston Endowment—and in the city of Houston—has been a long-range goal. Our aim is to create a workspace that is more accessible and collaborative, better suited to how we work today, and complementary to the surrounding neighborhood and community.”
The new site sits adjacent to Midway’s Buffalo Heights District and Buffalo Bayou Park and is centrally positioned between downtown and Memorial Park. The purchase gives Houston Endowment an opportunity, as a perpetual institution, to establish a long-term presence and contribute to neighborhood growth.
Houston Endowment worked with Cushman & Wakefield on the land transaction. Tom Forney of Forney Construction is serving as project manager, and David Robins of Jackson Walker is providing legal counsel for the project.
With assets exceeding $1.8 billion, Houston Endowment provides roughly $70 million in funding annually to strengthen civic institutions, support systems that benefit residents, advance post-secondary success, and help build a stronger region. Founded by Jesse H. and Mary Gibbs Jones in 1937, the foundation was a supporter of the Buffalo Bayou Park development, which will offer a scenic green backdrop for the new headquarters.
