Skanska to Develop $151M Houston High-Rise

The 35-story tower will consist of approximately 780,000 square feet of office space, with nearly 26,000 square feet of retail.

By Keith Loria

Skanska will develop and build a new $151 million, 35-story office tower in downtown Houston, which will be anchored by Bank of America.

Capitol Tower Lobby
Capitol Tower Lobby

“We have what we feel is an amazing building,” Matt Damborsky, Skanska Commercial Development’s executive vice president, told Commercial Property Executive. “It has a modern design, interior spaces that encourage collaboration and creativity, and we tried to make the building as efficient as possible to allow tenants the ability to downsize if they needed to do so.”

The property will consist of approximately 780,000 square feet of office space, with nearly 26,000 square feet of retail space. The project also includes an 11-level parking garage.

Bank of America will occupy about 215,000 square feet after completion.

“We’re in the market talking to a lot of potential options for the other space,” Damborsky said. “It’s in the heart of the business district, adjacent to Houston’s theater district, and a residential area that has a couple of new properties coming along within walking distance.”

There’s also access to a light-rail system within a block of the site.

The building is being designed to use 25 percent less energy than typical facilities and the office tower will be the first project in Houston development to reach LEED v4 Platinum pre-certification from the U.S. Green Building Council.

Among its sustainability features will be high-performance glass, rain harvesting for re-use in restrooms and landscaping and the green roof.

“We also have a lot of amenities for the project,” Damborsky said. “We offer a fitness center, we have a green roof that all the tenants can utilize, and we’ll have a tele-connected lobby, which in Houston is an important facet.”

Skanska will begin construction in April 2017 and expects to finish the project in the second quarter of 2019.

“This is our fourth major development in Houston and we are committed to Houston in the long-term,” Damborsky said. “This continues to be a growth market for us and it lines up with our philosophy.”

Since 2009, Skanska USA Commercial Development has invested nearly $1.5 billion in projects in the U.S., including corporate headquarters for Brooks Sports, PwC and Tommy Bahama.

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