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    One Floor Every 10 Days

    Sky high in the Galleria: An exclusive sneak peek at BBVA Compass Plaza (and itstwo restaurant spaces)

    Whitney Radley
    Apr 19, 2012 | 2:06 pm
    • The lobby of the BBVA Compass Plaza will grant access to a walk-up banking areaand two restaurants, as well as elevators to the offices upstairs.
    • The north side of the BBVA Compass Plaza. The shorter level to the right willhouse restaurants; a valet booth will be set up approximately at the base of theyellow crane.
      Photo by Whitney Radley
    • Corner offices will have fantastic views.
      Photo by Whitney Radley
    • The view from floor 12, down Post Oak Boulevard toward Westheimer.
      Photo by Whitney Radley
    • The 22-story office building will be the first in the Galleria area in threedecades.

    Representatives of the Redstone Companies have had the 6.5-acre plot of land at 2200 Post Oak Boulevard in their sights since the early '90s.

    Now, more than 20 years later, that plan is becoming a reality at the rapid rate of one floor every 10 days.

    In a joint venture with Stream Realty, the construction of the BBVA Compass Plaza began in June of 2011. The building will replace the bank's seven-story former headquarters (demolished in 2009) with a LEED Gold Certified office building, boasting 22 floors and more than 300,000 square feet of rentable space in a prime location — just one block north of Westheimer, and one block west of the 610 loop.

     

      "By the time this building is complete, it will be the first new construction in the Galleria area in more than 30 years," said Steven Lerner.

      "By the time this building is complete (in 2013), it will be the first new construction in the Galleria area in more than 30 years," Steven Lerner, president and CEO of the Redstone Companies, told CultureMap. Before that, Lerner says Williams Tower (formerly Transco Tower), completed in 1983, was the last high-rise office building built in the Galleria area.

    Lerner blames that lag on Loop reconstruction and a real estate boom in the Energy Corridor. But now, he says, lifestyle concerns call for more development in this area: People want to be able to live, work and play in the same place.

    "It's a critical mass," added Preston Young, regional managing partner at Stream Realty, as the two pointed out nearby, under-construction condos and apartment buildings, visible between the scaffolding that lined the 12th floor of BBVA Compass Plaza.

    Getting up to that vantage point was a slightly scary endeavor — one requiring a hard hat and a safety vest, and ascension in a construction hoist that seemed ill-suited to hold our entourage — that ultimately proved well worth it.

    The clear day afforded views of the Texas Medical Center and Reliant Stadium, and it wasn't hard to imagine the natural light that will pour into the glass windows which, once installed, will stretch all the way from the floor to the nine-and-half-foot-tall ceiling.

    BBVA Compass, the anchor tenant, will occupy the top seven floors of the building, with a walk-up banking outlet on the ground floor. Lori Moore, vice president of corporate communications, says that the move will consolidate four BBVA Compass corporate offices, and approximately 800 employees, into one space.

     

      BBVA Compass, the anchor tenant, will occupy the top seven floors of the building, with a walk-up banking outlet on the ground floor.  

    The bank's new offices will be open-concept, with shared meeting areas and mobile computer systems to increase efficiency.

    "This model will allow us to focus more on the customer," and eliminate task overlap, Moore said.

    On the ground floor of the BBVA Compass Plaza, a lobby will open up to the retail outlet and two restaurant spaces — one occupying 8,000 square feet, and the other 4,000 square feet. Young couldn't yet reveal names, but promised that both are well-known, locally-operated restaurants.

    The next eight levels will house a parking garage, enclosed and obscured by the same glass curtain wall system as the offices above.

    Young says that construction is on track for an April 2013 completion and, though that's still a year away, the available space is already 60 percent leased.

    That positive reception bodes well for Phases II and III of the project, which will add a second office tower as well as a hotel, and still allow for a football field-sized green campus in the center. A timeline for that development has not yet been set.

    unspecified
    news/real-estate

    Rent report

    This Houston suburb had the highest apartment rent prices in June

    Amber Heckler
    Jul 4, 2025 | 1:00 pm
    Sugar Land
    The City of Sugar Land, Texas – City Government/Facebook
    The asking rent for a one-bedroom apartment in Sugar Land was $1,450 in June, and two-bedroom units were $1,870.

    Apartment rent prices in June were more expensive in Sugar Land than they were anywhere else in Houston, according to the latest monthly rental report from Zumper.

    The rent report, which analyzed active listings from the previous month across all cities in the Houston metro, tracks 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.

    Despite having the most expensive rent in the Houston area last month, the asking rent for one--bedroom apartments in Sugar Land was technically lower than it was a year ago. Sugar Land's asking rent for one-bedrooms dropped 0.7 percent year-over-year to $1,450, while asking prices for two-bedroom units grew 3.3 percent to $1,870.

    Galveston saw the highest jump in one-bedroom prices year-over-year this past June, with asking rent for single-bedroom units rising 2.7 percent to $1,140. Two-bedroom apartments in Galveston dropped 2 percent year-over-year to $1,450.

    One-bedroom rent in Pearland decreased 1.5 percent to $1,340 in June, which Zumper found was the second-highest rent price in Houston. Year-over-year prices for two-bedroom units rose nearly 3 percent to $1,770.

    Houston proper had the third most expensive rent in the metro area last month, with prices for one-bedroom units remaining flat year-over-year at $1,280, while two-bedroom units decreased 7.4 percent to $1,500.

    Houston-area cities with affordable rent compared to the statewide median
    Zumper's report revealed that the median asking rent for a one-bedroom apartment in Texas came out to $1,134 last month, but there was no figure given for two-bedroom units.

    Out of the 13 Houston-area cities included in the report, six had affordable asking rent prices lower than the statewide median: Huntsville ($850), Pasadena ($900), Texas City ($910), Lake Jackson ($920), Baytown ($940), and La Porte ($1,100).

    Huntsville rent prices were the cheapest in the metro last month, but rent in Baytown decreased the most dramatically since last year with prices plunging 14.5 percent. Huntsville's current asking price is 5.6 percent lower than it was this time last year, which was the second-lowest drop.

    These are the June rent prices for one-bedroom apartments in the three remaining Houston-area cities:

    • League City – $1,200
    • Spring – $1,180
    • Conroe – $1,150
    rent reportrentreal estatehoustonsugar landpearland
    news/real-estate
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