HOUSTON – (Realty News Report) – Greentown Labs, a business incubator dedicated to accelerating the clean energy transition, will occupy the former Fiesta grocery store in Midtown Houston.
The move is part of a Rice University affiliate’s plan to build a 16-acre Innovation District filled with technology, research, and startup activity between downtown Houston and the Texas Medical Center.
The site at 4200 San Jacinto — the 42,000-square-foot Fiesta store that closed in July — sits one block from the old Sears building on Main Street, another property being redeveloped as part of the Rice-led initiative.
Greentown Labs is a prominent player in the climate tech incubator space. Headquartered in Somerville, Massachusetts, near Boston, Greentown Labs describes itself as the largest climate-tech incubator in North America.
Scheduled to open in spring 2021, the renovated Fiesta store will become Greentown’s Houston incubator, featuring a prototyping lab, office space, and community areas. The facility is planned to support about 50 startups with a combined workforce potentially reaching 200–300 employees.
“The City of Houston looks forward to witnessing the innovation, growth, and prosperity Greentown Labs will bring to the Energy Capital of the World,” Mayor Sylvester Turner said in a press release.
The Fiesta site lies just a few hundred feet from the location of a large homeless encampment that the city closed several years ago. The encampment developed beneath an elevated portion of U.S. Highway 59 near Wheeler Avenue and was dismantled after public health officials cited widespread human waste and trash as a nuisance; the area had also experienced multiple fatalities over time. Although the major encampment was removed, a visible homeless population remains along the southern edge of the emerging Innovation District.
Construction continues on The Ion, the 300,000-square-foot redevelopment of the Sears building that will serve as an anchor for the Innovation District.
Critical Mass
Greentown Labs Houston has enlisted several partners for the new development, including Microsoft, Rice Management Company, Saint-Gobain, Direct Energy, and Naturgy. In announcing its Houston expansion, Greentown listed a group of founding partners and supporters representing major energy, investment, and legal firms along with technology companies and insurance impact investors.
Microsoft has set ambitious climate goals, including powering all operations with 100 percent renewable energy by 2025, becoming carbon negative by 2030, and removing historical emissions by 2050. The company has also launched a $1 billion climate innovation fund. Darryl Willis, Microsoft’s vice president for the energy industry, will join Greentown Houston’s Founding Advisory Board.
“Accelerating the transition to clean energy is an important priority for us at Microsoft,” said Darryl Willis. “Our world requires all of us to come together to enable long-term sustainability. Aligned with this philosophy, we’re pleased to partner with Greentown Labs Houston. Their focus on incubating innovation among energy startups will help us move towards a greener planet and build on our strategic collaboration with the City of Houston.”
A number of other accelerator programs have already established a Houston presence, including Boston-based MassChallenge, gener8tor, and Impact Hub Houston, contributing to an expanding ecosystem that connects startups with capital, corporate partners, and talent.
“In order to meet the urgent challenge of climate change, we must engage the talent and assets of major ecosystems around the country,” said Emily Reichert, CEO of Greentown Labs. “We look forward to catalyzing Houston’s support for climate-tech startups as we work together toward a sustainable future for all.”
The Fiesta chain was founded in Houston in 1972 and is known for its extensive selection of Latinx food products. Fiesta stores also carry a wide range of groceries and specialty items that serve customers from diverse ethnic communities, including African, Vietnamese, Korean, Indian, and Filipino shoppers.
Sept. 23, 2020 Realty News Report Copyright 2020
Caption: Midtown Houston’s former Fiesta and Sears stores are now part of the Innovation District. Photo credit: Ralph Bivins of Realty News Report Copyright 2020
File: Greentown Labs Opening in Houston
File: (2) Renewable energy. Microsoft. Fiesta. Sunnova Energy. Innovation District. Greentown Labs Opening in Houston
