New Skyscraper Proposed for Downtown Houston, Market briefs

In Houston, Houston’s next downtown skyscraper has been proposed and a veteran Texas office broker and one of the nation’s top skyscraper architects have joined forces to present the opportunity to the real estate market.

The new tower would be built on the site of a well-worn, city-owned office building at 611 Walker on a block bounded by Walker, Smith, Louisiana and McKinney streets. City employees are slated to relocate from this Public Works building to another downtown location.

The 27-story city building, which opened in 1968, sits on a prime block with unobstructed scenic views of Buffalo Bayou park on the west side of downtown, says Houston office broker Tim Relyea, executive vice chairman of Cushman & Wakefield, who is representing the city in the sales effort.

Vacating the city building “has created an opportunity to demolish and redevelop the block into what could become a defining architectural statement for the city. There has not been a site like this available in the last half a century,” said Relyea.

Simply put, the plan is to sell the old building, tear it down, and build a significant new tower that would impress Houstonians and people across the nation.

Relyea has enlisted architect Jon Pickard of the Pickard Chilton architecture firm to develop some preliminary concepts for the new tower. Pickard has worked on a number of major developments, including the Exxon Mobil global headquarters on the north side of Houston, the 48-story tower at 609 Main, and the Amegy Bank building near Loop 610 and San Felipe.

Pickard also designed Austin’s new, 74-story Waterline, a multi-use tower that opened this summer, laying claim to the title as the tallest building in Texas.

The 611 Walker site is located on the front row of the western downtown skyline, a place for Chamber of Commerce promotional photos or the introductory video clips shown on national football broadcasts.

It is a location that deserves an exceptional office tower, Pickard said, calling for “a next generation development.”

“The vision is not simply another conventional office building,” Pickard said. “Rather, the opportunity is to create a building that responds to the way leading companies operate, supporting the effective recruitment, engagement and retention of the best talent.”

The new buildings in downtown have outperformed older office towers. Many companies, particularly law firms, have been attracted to the newest and finest office buildings that have floor-to-ceiling glass, fitness facilities, access to good restaurants and other amenities like outdoor green space.

The occupancy rate is at an amazingly high 95 percent for Downtown Houston skyscrapers built since 2010, as stated by Cushman & Wakefield research.

The Texas Tower, a 47-story building recently developed by Hines on the site of the former Houston Chronicle, is now 99 percent leased. The Vinson & Elkins law firm, and several other law firms have their offices in Texas Tower.

Having prime office space is viewed by many in the legal community as a necessity in recruiting the best young lawyers.

Relyea, in an interview Tuesday, noted that many of the buildings along Louisiana Street and the highly visible western rim of Downtown Houston were built in the 1970s and 1980s.

Nothing new has risen on the western skyline rim in almost 50 years, Relyea noted. The great skyscrapers of another generation, including those once named One Shell Plaza, RepublicBank Center, Allied Bank Plaza, Texaco Heritage Plaza, and Enron Center, all have new names.

Relyea believes Houston is ready for the right corporation, the right developer, and the right investor to step forward and make a fresh mark on Houston’s noteworthy downtown skyline.

A 50-year wait is long enough.