There’s some good news for businesses that are looking to expand in Houston. Skanska Commercial Development, a national developer based in New York, has announced plans to create a brand new high-rise tower in Houston. This new tower will go up on the site of the old Houston Club Building at 811 Rusk Street. Here are the details that anyone looking to move to Houston will need to know.
About the New Tower
While Skanska is developing the tower, Bank of America holds a prime position as the tower’s anchor tenant and as such, they hold the naming rights to this as-yet unnamed high-rise. It is expected that this 35-story tower will cost $151 million to build, creating 780,000 square feet of mixed-use space. Bank of America plans to utilize roughly 215,000 square feet, which means the rest of the new tower’s space is up for grabs.
Features to Expect
This new high-rise is expected to be feature-rich, including a parking garage with 11 levels and 26,000 square feet of room for retailers. Among the more interesting details, there is a fitness center planned and a smart lobby that will be designed to help tenants and visitors stay connected.
The biggest set of features will deal with this building’s environmental friendliness. This high-rise is the first within Houston to be pre-certified to LEED v4 Platinum standards. There are several things that help the tower achieve this rating, which is forecasted to use about a quarter less energy than other buildings of its size. Most notably is the planned green roof but other green features include a rain harvesting system and energy saving high-performance glass.
Timing the New Tower
Technically, construction began back in August 2015 when Skanska poured the foundation for a future building. However, the developer decided to wait for markets to improve before proceeding with the rest of the construction. Plans were officially announced April 12, 2017 – from there, it is expected that the remaining construction will take about two years, concluding sometime in mid-2019.
According to Skanska, this is the fourth major project that they have developed in Houston, a city that leads the nation when it comes to expansion. The new high-rise also belongs to a larger nationwide trend of office expansion, which increased nearly 29% between 2015 and 2016. Situated near both the city’s center and a thriving suburban area, space in this new tower is likely to be snapped up quickly.