Hines, Ivanhoe Cambridge to Develop 47-Story Office Tower in Downtown Houston
HOUSTON — A partnership between Houston-based Hines and Canadian development/investment firm Ivanhoe Cambridge will develop a 47-story office tower in downtown Houston. Designed by Pelli Clarke Pelli, the 1 million-square-foot property will be located on the 800 block of Texas Avenue. The building will feature multiple food and beverage offerings, a full-service conference facility, public gardens and a fitness center. JLL arranged construction financing for the project, which will also include an 11-story parking garage, through New York Life Real Estate Investors. Law firm Vinson & Elkins has signed a 16-year, 212,000-square-foot lease to become the property’s anchor tenant along with Hines, which will relocate its global headquarters to the new building and occupy 155,000 square feet.