Own Your Space

Innovative new company XSpace launches ownable multi-use condo concept in Houston

Buying commercial space used to mean buying the entire building, but XSpace co-founder Byron Smith wasn't satisfied with that limiting option. The Australian native and entrepreneur brought his commercial condominium project to Austin last year, and is targeting Houston for the newest XSpace location, set to open in 2024.

The concept is simple: XSpace units can be used as any combination of storage, an office alternative, and studio space, eliminating the need to lease an office and/or rent a separate monthly storage unit. Each can be customized — 20-foot ceilings offer the option of adding a loft, for example — and all offer drive-up access.

Easy vehicle access is ideal for automobile collectors, which Smith says were the initial inspiration for the business.

“It started off as a place for car enthusiasts and personal businesses, but more small businesses have become engaged,” Smith says. “If you can get the financing, you are better off owning than leasing. The numbers work out to be the same.”

Houston's XSpace will be located at 7022 Old Katy Rd. and 80 units are available, with customization options up to 10,000-plus square feet.

All units will have mezzanines and most will have drive-up access (except for penthouses), along with a beautiful communal outdoor space that boasts views of Memorial Park and uptown Houston.

XSpace Houston has been designed to be a hub for creatives, entrepreneurs, and anyone looking to invest in a second space and a community.

There are plans to add XSpace locations in Dallas and East Austin, as well as in in The Woodlands north of Houston.

Outside of Texas, Smith hopes to open XSpace projects soon in Chicago and Miami. Securing land in Atlanta, Denver, and Salt Lake City by the middle of next year is also on the horizon, with locations for New York City, Nashville, Tennessee; and Scottsdale, Arizona, close behind.

To learn more about Houston XSpace and join the waitlist, call Mary Swanhaus at 631-804-5556.

Rendering courtesy of XSpace

XSpace is coming to Houston at 7022 Old Katy Rd.

promoted

breaking ground

Pharmacy giant Bristol Myers Squibb to build $2.3B Houston factory

Bristol Myers Squibb Houston factory rendering

Courtesy of Bristol Myers Squibb

The 60,000-square-foot facility is expected to open in 2030.

New Jersey-based pharmaceutical giant Bristol Myers Squibb Co. has officially named Houston as the home of its new state-of-the-art manufacturing site.

The 60,000-square-foot facility represents a $2.3 billion investment, according to a news release. It is expected to create 500 skilled jobs and will be located in Houston's Generation Park.

BMS first announced that it was considering Houston among 16 other cities for the facility in May. The new hub will manufacture small molecule, biologic and antibody-drug conjugates and is part of a $40 billion commitment to invest in the United States over five years. Construction is slated to begin next year, with the facility coming online in 2030.

"We're building the domestic manufacturing capabilities needed to deliver the next generation of medicines and support future scientific breakthroughs. Houston and the state of Texas offer the talent, infrastructure, and partnership needed to help bring that vision to life," Christopher Boerner, CEO and board chair of BMS, said in the release.

The new facility will feature a modular, multi-modal design, which will allow the company to reconfigure and add to its manufacturing capabilities over time. BMS says it expects the facility to "(grow) in scale and capability well beyond its opening configuration."

"Our decision to build this state-of-the-art manufacturing campus in Houston, Texas, reflects our confidence in the region’s ability to support a world-class, digitally advanced supply operation,” Karin Shanahan, EVP and chief supply chain and operations officer of BMS, added in the release. “This facility is designed to deliver the speed, quality, and reliability that patients depend on, combining flexible, modular manufacturing with advanced digital capabilities to ensure consistent supply across multiple modalities. It strengthens our ability to operate with resilience and positions us to reliably deliver medicines to patients today while adapting future demands.”

Texas Gov. Greg Abbott shared that the state has granted BMS a $4.89 million Texas Enterprise Fund (TEF) grant for the project. TEF grants, administered by the Texas Economic Development & Tourism Office, support business relocation or expansion projects that create "new, good-paying jobs in the community and attract significant new capital investment to the state." The development is also a qualified project under the Texas Jobs, Energy, Technology, and Innovation (JETI) program.

“Texas is a global hub for life sciences, where today’s innovations shape the future of healthcare,” Abbott said in a news release. “This $2.3 billion investment by Bristol Myers Squibb in the dynamic biotech ecosystem in Houston is a testament to the depth of our skilled workforce and the pipeline of talent coming through our nation-leading technical colleges and research universities. With lower operating costs and easy access to markets across the U.S. and the world, Texas drives affordability for consumers.”

"Bristol Myers Squibb’s announcement is a tremendous win for Texas and the Houston region, further reinforcing our position as a premier destination for life sciences and advanced manufacturing,” added Greater Houston Partnership President and CEO Steve Kean.

Last fall, Eli Lilly and Co. selected Generation Park, a 4,300-acre, master-planned commercial district near Lake Houston, for its $6.5 billion manufacturing plant. More than 300 locations in the U.S. competed for the factory. Read more here.

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This story was first published on our sister site InnovationMap.