There’s a new story for the old Houston Chronicle building in downtown. Hines, the Houston-based, international real estate juggernaut, has announced that it is beginning construction of a new, 47-story tower on the 800 block of Texas Avenue. The development will completely reimagine the vaunted old newspaper building space.
Not surprisingly, new tenants are flooding the project, the main player being Vinson & Elkins — Houston’s largest and one of the oldest law firms — which has signed a 16-year lease for 212,000 square feet and will occupy the top seven floors, according to a statement. The building is scheduled to open in late 2021.
Hines, who is spearheading the project with partners Ivanhoé Cambridge, will also relocate its global headquarters to the new 1,000,000-square-foot office tower, with a 15-year lease for approximately 155,000 square feet over five floors.
Pelli Clarke Pelli is the design architect, and has placed the tower diagonally on the site, resulting in “unique, more interesting view angles and a powerful civic presence,” according to the statement. Parking for more than 1,500 cars comes via an internal, 11-level garage. The structure will also boast community gardens on the 12th floor. Other amenities include multiple food and beverage offering, networking spaces, a full-service conference facility, and a high-performance fitness center.
“This tower promises to be a true ‘next-generation’ office building, drawing from the research and best practices we have learned from our office developments around the world,” said Jeff Hines, president and CEO of Hines, in the statement. “We are excited to not only be building it, but also to move our headquarters there. And, we are proud to once again partner with Ivanhoé Cambridge, with whom we have enjoyed a number of successful partnerships in cities such as Chicago, Toronto and Paris.”