Weekly Update 01.15.2021

w.youtube.com/watch?v=QUxm6lcE2zc

Josh: Hello welcome, this addition of weekly update in Houston, TX. My  name is Joshua Vida. This week we have these Skanska company  plans to clear the Montrose property in the coming months. Lynn Wyatt Square for the Performing Arts is under  construction and Texas Tower expect to be complete late 2021.

In July 2018 Hines, and Ivanhoe Cambridge teamed up to develop the Texas Tower  also know as T2.  The building will be located in the central business district in Houston. The area includes 114,000 square feet office space and another 150,00 square feet of first floor retail. New York Life Insurance co. provided a $317.5 million in construction financing. The 47 story Tower is expected to be completed in late 2021. Developers selected are Pelli Clarke Pelli who spearhead the design plans. Hines  also preleased 180,000 square feet I n the building for their new Headquarters. Vinsion & Elkins and DLA Piper are preleased space in the building.

Lynn Wyaat Square for the Performing Arts formerly Jones plaza in currently under construction.  Rios Clementi Hale Studios Architects are in charge of the project. It is expected to be completed in summer 2021. Wyatt donated $10 million dollars to the project hence getting the naming right. The project cost a total of $29 million. The purpose to provide a facelift for Jones plaza. The square is  located in the downtown theater district. The square will also have 200 indoor and 80 outdoor seats provided on two levels. There are also dining areas that can be rented.  Rios said  The revitalization of Wyatt Square sets the stage for activities and events that attract urban living and plaza life on a daily basis while serving the entire region with diverse cultural programming.

 The Skanska company plans the demolition the Montrose property in Houston to make way for a mixed use development. The 124,000 square feet site be cleared in the coming months, approximately six weeks . Skanska has not yet finalized the master plan for the site. The site is located at the southwest corner of Westheimer Road and Montrose Boulevard. “Skanska is continuously looking for opportunities to diversify our Houston offerings while developing projects that reflect the strong culture and sense of community in this city,” said Matt Dambrosky, EVP at Skanska USA Commercial Development in Houston. The project is also targeting LEED Platinum certification.

Thank you again for watching this edition of weekly update. Like the video, make sure to give it a big thumbs up. Also,  make sure hit the subscribe and the Bell icon so you can stay up to  date on what's going on in construction business. I hope  you have a wonderful weekend.