Houston

Billionaire Tilman Fertitta recently announced that work has started on The Post Oak, a mixed-use, master-planned project located in the Galleria and Uptown area along West Loop South in Houston. The project has been designed by Gensler and consists of a 35-story, 650,000-square-foot tower and a 30,000-square-foot ballroom and conference center.

In an attempt to better serve the various BMW and MINI car dealerships scattered across Texas, Oklahoma, Louisiana and Arkansas, BMW Group recently broke ground for a new vehicle distribution center in Galveston, TX.

HFF has kept busy in Houston this month. The Pittsburgh-based company recently announced that it has secured refinancing for One City Centre, a 608,660-square-foot office tower and two parking garages in Houston and that it has obtained a $6.15 million mezzanine loan for Kings Landing, a Class A multi-housing community in Kingwood, TX.

Dallas-based Trammell Crow Co. and Artis REIT announced recently that they closed on the acquisition of two land tracts in Missouri City, TX, where the companies plan to develop Park8Ninety, a new, Class A industrial business park.

The Downtown Redevelopment Authority (DRA) of Houston recently issued a request for qualifications for the acquisition, clearing and development of a 35,579-square-foot site at 1111 Main St. The official RFQ calls for the development of a multifamily project and/or a mid- or high-rise hotel tower with extensive retail components on the lower floors.

The future of Houston’s NRG Astrodome remains unclear, but strides are being made towards the repositioning of the Astrodome as a multi-use park. The Urban Land Institute (ULI) recently released a report that argues for the conversion of the stadium into a multi-use park that would enhance the quality of life for residents and serve as a tourist attraction.

The Building Owners and Managers Association (BOMA) International recently designated the Hess Tower in Houston as a BOMA 360 Performance Building, according to an official CBRE press statement. The designation recognizes the industry’s best practices in building operations and management.

Stream Realty Partners has had a very busy new year. In spite of the recent concerns regarding the energy industry, in the first 45 days of 2015, the Dallas-based company managed to execute over 700,000 square feet of new, industrial leases in Houston.

Houston-based BHW recently broke ground for Plantation Park, a 238-unit luxury apartment community in Lake Jackson, TX. The first phase of the class A residential complex will be developed on a 27.9-acre site on Plantation Drive and is expected to span across 16 acres. The remaining acreage might be used later on for a second phase of apartments, pad sales or for other commercial projects.