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    introducing 1550 on the green

    New downtown office tower will rise in bustling Discovery Green

    Steven Devadanam
    Jan 14, 2021 | 2:07 pm
    1550 on the Green Discovery Green Skanska
    The 1550 on the Green tower will anchor a new mixed-use district.
    Rendering courtesy of Skanska

    A new office tower will soon loom over the popular Discovery Green as the anchor of a new downtown district. Global development and construction firm, Skanksa, announced the new building at 1550 Lamar St. and its anchor tenant on January 13. The new 28-story, 375,000-square-foot Class-A office structure is dubbed 1550 on the Green, per a Skanska statement.

    Global law firm Norton Rose Fulbright will relocate its Houston office in 2024 and acquire naming rights upon occupancy, according to a press release.

    Bound by La Branch, Lamar, Crawford, and Dallas Streets, 1550 on The Green will feature extra-wide pedestrian zones with a canopy of trees, two tenant outdoor roof terraces, and wide views of the surrounding greenery.

    International design firm BIG-Bjarke Ingels Group led the building’s design; it is the company’s first foray into Texas. BIG’s design promises sustainability, energy efficiency, and an “airy” office environment for tenants, a release describes.

    Some 7,000 square feet of retail space will greet first-floor guests. Michael Hsu Office of Architecture has been tapped to design the interior amenity spaces; those include a fitness center, rooftop event space and terrace, and community spaces.

    The new 1550 on the Green tower is part of a new envisioned district that will be branded as Discovery West. The district will consist of 3.5 acres of mixed-use development boasting restaurants, retail, green space, and “world-class architecture,” per a release.

    Working with Central Houston, Inc., Discovery Green, Bike Houston, the Kinder Foundation, as well as several brokers, Skanska and design firm of record, BIG-Bjarke Ingels Group, completed the master plan for Discovery West in early 2020.

    Skanska has been noticeably active in the Houston office market, specifically with the development of Bank of America Tower, West Memorial Place I and II, and the future Discovery West. The company is behind the acquisition of a buzzy strip center in Montrose. Skanska also plans to multifamily to its Houston portfolio, the firm notes.

    “As an organization that prides itself on building what matters to our communities, our team, made up of Houstonians, has been working alongside local stakeholders to develop a plan and a building that will transform this side of downtown Houston while still meeting the needs of the city,” said Matt Damborsky, executive vice president for Skanska USA commercial development’s Houston market, in a statement.

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    news/real-estate

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    rent report

    2 Houston suburbs had the priciest rents in the metro in November

    Amber Heckler
    Dec 4, 2025 | 12:30 pm
    Houston skyline at night
    Photo by Jeswin Thomas on Unsplash
    Asking rent for a single-bedroom apartment in Houston came out to $1,210 in November, Zumper said.

    After American shoppers spent $11.5 billion on Black Friday this year, it's safe to say everyone is watching their wallets this holiday season, including renters. And a new Zumper report is shedding light on the Houston-area cities that are shelling out the most for their rent.

    The report analyzed active listings from the previous month across all cities in the Houston metro. It tracked the most and least expensive rent prices for one- and two-bedroom apartments, and determines the cities with the fastest growing rents. Listings were aggregated by city to calculate median asking rents.

    Sugar Land had the highest rent prices in the Houston area in November, the report found. The median rent price for a single-bedroom apartment came out to $1,480 last month. That's $30 higher than the median asking rent for the same apartment in June.

    For two-bedroom units, median rent prices in Sugar Land rose 4.3 percent from October to $1,940.

    Pearland had the second-highest rents in the metro last month. Single-bedroom units had a median asking price of $1,370 per month, while two-bedroom units had a $1,700 price tag in November.

    Residents in both Pearland and Sugar Land are expected to spend more than $3,100 on their holiday presents this year, a recent WalletHub study revealed, which means they may be keeping a closer eye on their budgets than other Houston-area residents.

    Meanwhile, Houston proper had the third-priciest asking rents in the entire metro area in November. Median asking rent for a one-bedroom unit totaled $1,210 in November, and two-bedroom units had a $1,480 price tag.

    These are the median rent prices for one- and two-bedroom apartments around Houston:

    • League City – $1,180 for one-bedroom units; $1,410 for two-bedroom units
    • Spring – $1,170 for one-bedroom units; $1,530 for two-bedroom units

    Houston-area cities with affordable rent compared to the statewide median
    Zumper found the statewide median rent for a one bedroom apartment came out to $1,126 last month.

    Huntsville, a city 70 miles north of Houston, had the most affordable rent for a one-bedroom unit in the region, with median prices adding up to $880. The report also found that Huntsville's single-bedroom rent costs are surprisingly 6 percent more expensive than they were a year ago. However, the median cost for a two-bedroom unit in Huntsville – $1,000 – is the same asking price as it was in November 2024.

    Six more Houston-area cities had more affordable single-bedroom rent prices than the statewide median:

    • Galveston – $1,110
    • Conroe – $1,100
    • Baytown – $1,000
    • Lake Jackson – $920
    • Pasadena – $910
    • Texas City – $890
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