Hanover Completes 40-Story Tower, Market briefs

In Houston, Hanover Company, along with its partner Mitsui Fudosan America, has completed the Hanover Buffalo Bayou, a 40-story apartment tower at the 14-acre multi-use Autry Park tower.

The new, 317-unit Hanover Buffalo Bayou has 5,000-SF of ground floor retail. Residences in the Hanover Buffalo Bayou average 1,276 SF.

The Autry Park district, located near Buffalo Bayou Park west of downtown, already has two existing Hanover multifamily properties: the 24-story, 324-unit Hanover Autry Park, and the 422-unit, eight-story Hanover Parkview.

Adding Office Building to the Mix

Houston-based Hanover Company recently laid out plans to build the first office building at Autry Park. The office project, called Autry Park One, will consist of nearly 117,000 SF of office space and 10,500 SF of retail space.

Hanover Company’s Bryce Jones and Rebees’ Wally Davis and Matt Ragan handle retail leasing for Autry Park.

Other members of the Autry Park development team include: OJB Landscape Architecture, Ziegler Cooper Architects, W Partnership Inc., Design Collective Inc., FÖDA, walkability expert Jeff Speck, and Michael Hsu Office of Architecture

Autry Park is a multi-use real estate projected large-scale planned and developed by Hanover Company in partnership with Lionstone Investments. Rebees Managing Partner Tom Paterson formerly worked as chief operating partner of Lionstone.

Hanover Company, along with its partner Mitsui Fudosan America, has completed the Hanover Buffalo Bayou, a 40-story apartment tower at the 14-acre multi-use Autry Park tower. Residences i average 1,276 SF. Photo: Jin Park of Hanover.

Autry Park’s over-arching masterplan calls for expansion finally include five towers with 1,450 residential units, 350,000 SF of office space, and over 100,000 SF of retail and restaurants — all situated around a central greenspace.

Mitsui Fudosan America, Hanover’s partner in the 40-story Hanover Buffalo Bayou tower, is the US subsidiary of Japan’s largest real estate company, Mitsui Fudosan Co., Ltd., a publicly traded company with approximately $62 billion in assets.

Buffalo Bayou, A Slow Moving River that Flows into Downtown Houston

Buffalo Bayou has its beginnings in the Katy area west of Houston. West of downtown, the bayou area has been transformed into a public park.

Buffalo Bayou Park encompasses 160 acres along the 10-square mile stretch of bayou that flows from Shepherd Drive to the Port of Houston. The transformative urban greenspace connects a vast network of waterfront hike and bike trails.

“Buffalo Bayou is one of our city’s greatest natural resources. During the past five years, millions of dollars have been spent on improvements and redevelopment of Buffalo Bayou Park, facilitated by the generous support of foundations, corporations, and individuals. We hope other individuals and organizations will recognize how this natural waterway improves quality of life for all Houstonians,” Brandt Bowden, CEO of Hanover Company said when the Autry Park plan was reported in 2020.

Photo courtesy: Hanover

Mark Your Calendar

CommGate will host its Economic Outlook –Wednesday, Oct. 15 from 3 to 6 p.m. at the Houston Country Club. Economist Ted C. Jones, PhD, will present an economic forecast examining trends that will shape the real estate market in the coming year. Following the presentation, connect at a networking social with beverages and hors d’oeuvres. Free for members of CommGate, CCIM, and SIOR. Non-members $50. For information: click here.

More property reports