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Old Posted May 28, 2015, 8:16 AM
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Lightbulb HOUSTON | Republic Square | 7 Towers | ~14-16 FLOORS

Developer: PM Realty Group
Architect: Elkus Manfredi & Pickard Chilton
Type: Mixed-use
Location: 13501 Katy Fwy. - Energy Corridor
Construction Timeline -2015 Start Date - 2018 Completion (Phase 1)

*5 office buildings totaling 2.6 million sq ft.
*800 residential units
*two hotels
*100,000 sq ft or retail



http://www.houstonchronicle.com/busi...gy-6290852.php

Quote:
Originally Posted by Houston Chronicle
Developer plans urban-style enclave in Energy Corridor

A Houston developer wants to bring a bit of urban sensibility to the Energy Corridor, a section of west Houston known for its suburban office campuses, chain-filled strip malls and outsized apartment buildings.

The developer, PM Realty Group, is committing $1 billion to building a bustling mixed-use community of upscale apartments, outdoor restaurants, hotels and high-rise office towers housing companies seeking to recruit a younger generation of workers who value the outdoors, collaboration with colleagues and an abundance of amenities.

Construction is scheduled to begin next year, and the first office building could break ground before the company finds a tenant to occupy it.

The developer is taking an urban approach to the site by combining as many as 800 residential units with five office buildings totaling 2.6 million square feet, two full-service hotels with connected conference space and 100,000 square feet of retail space including a fitness facility. The scale of the buildings will be in the 14- to 16-story range, though some could be shorter or taller.

The first phase, to include an office building, parking garage, hotel and conference center, fitness facility and additional retail, as well as the public square, is scheduled for completion by early 2018, the company said.










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  #2  
Old Posted Jun 12, 2015, 6:52 PM
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From swstig on HAIF:

http://www.houstonarchitecture.com/h...mpus/?p=503315

Quote:
first phase will be a spec 400,000 SF office (up to 600,000 if they secure a major tenant), garage, some retail and a hotel with BP pushing for a particular major 4-star flag that already has a hotel in town. connectivity to the park will be a major focus and they are working some things out with the city to help that cause. this is an all cash investor so this one is happening - expect construction to begin 1Q16.
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Old Posted Jun 12, 2015, 7:30 PM
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Houston's on fire Urbannizer. How many high rises do you estimate are in the pipeline? Seems like every other day something new is being added. Pretty impressed.
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Old Posted Jun 14, 2016, 3:34 PM
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Oil Rout Stalls Republic Square Development
Houston Chronicle, Nancy Sarnoff, 06-13-16

A mixed-use development slated to break ground this year in the Energy Corridor has been put on hold amid the economic slump that has left millions of square feet of office space unoccupied in area buildings.

The project, announced about a year ago by Houston-based PM Realty Group, was set to be one of Houston's largest developments of its kind. The 35-acre development, named Republic Square, was designed by a slate of national consultants, architects and planners to include hundreds of upscale apartments, restaurants, hotels and high-rise office towers.

Since the price of oil dropped to a low of $26 earlier this year, the companies that dominate this part of west Houston have been piling gobs of space onto the sublease market and demand for new space is virtually nonexistent.

"Where the economy is right now, it doesn't make sense to build 2 million square feet of office space in west Houston," said Wade Bowlin, executive vice president and managing director of PM Realty's central division.

Some 10 million square feet of sublease space is on the market across the Houston area, though the largest blocks are concentrated in the Energy Corridor and downtown.

Oil volatility has sent "shockwaves" through the commercial property market, with, on average, 500,000 square feet of subleases coming online each month since early last year, according a report from JLL, a real estate firm.

By 2017, sublease space availability could grow to more than 11 million square feet.

The latest example came earlier this month when ConocoPhillips said it was putting an entire building up for sublease. The company had never occupied the 22-story building on Interstate 10 at North Eldridge Parkway in the Energy Corridor.

The 15-year average for sublease space in Houston is 3.8 million square feet, according to CBRE, another commercial property firm.
....

The project is slated for the former home of Exxon Mobil Corp.'s chemical operations between Interstate 10 and Memorial Drive, bordering the 500-acre Terry Hershey Park.
....

When it was announced, the mixed-use project was expected to have as many as 800 residential units, five office buildings totaling 2.6 million square feet, two hotels and 100,000 square feet of retail space.
....

Full article: http://www.chron.com/business/real-e...he-8108999.php
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Old Posted Mar 16, 2017, 2:45 PM
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Third Palm Capital Shares Updated Republic Square Plans

Quote:
The future of a 35-acre former Exxon Mobil campus in west Houston is starting to be realized.

Third Palm Capital, the developer behind Republic Square, shared its plans for the redevelopment of Exxon Mobil Chemical's old headquarters site. The real estate investment company bought the campus in 2013 and is moving forward on developing speculative office space, art studios, a biergarten and more, Third Palm's Executive Manager Randall Tuller told the Houston Business Journal.

Work on the current vision for Republic Square, the multitenant, mixed-use development underway at 13501 Katy Freeway, has been in the works since at least July 2016. Dallas-based Third Palm is working alongside Houston-based Boxer Property to redevelop 320,000 square feet of Exxon's former office space into creative art studios, office suites designed for small- to mid-sized tenants, Boxer Property's Workstyle co-working space and more, Tuller said. As of now, no parts of the campus will be demolished, but the Third Palm team is continually assessing the market and that might change, Tuller said in a statement.

Third Palm and Boxer will also preserve and lease Mosaic, a 15,000-square-foot prototype office space built in the campus by Exxon Mobil. The Mosaic space resembles Exxon's new headquarters at Springwoods Village. The company treated Mosaic like a beta-version of its new campus, Tuller said, and observed how its employees interacted with the workspace before it moved forward with its massive north Houston campus in 2015.

More ideations for Republic Square, including public event space and a beer-focused addition, are in the works. The firm is also in talks with several high-end hotel flags for a property at Republic Square, Tuller said. A decision should be made by the end of 2017, he said.
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