{"id":1004510263,"date":"2021-02-12T04:59:31","date_gmt":"2021-02-12T12:59:31","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004510263"},"modified":"2021-02-12T04:59:31","modified_gmt":"2021-02-12T12:59:31","slug":"hines-2ml-real-estate-release-first-glimpse-of-levit-green","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hines-2ml-real-estate-release-first-glimpse-of-levit-green\/","title":{"rendered":"Hines, 2ML Reveal 1st Phase of Houston Life Science Campus"},"content":{"rendered":"

Hines and 2ML Real Estate Interests’ plans for the development<\/a> of Levit Green, a new 53-acre life science district in Houston, are taking a major step forward with the release of renderings of the mixed-use development’s first phase. A 270,000-square-foot building will serve as the centerpiece of the project’s initial stage.<\/p>\n

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READ ALSO<\/strong>: Shifting Priorities: The Rise of Alternative Real Estate<\/a><\/p>\n

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Designed by architectural firm HOK, the laboratory and office building will include such life science-related features as 100 percent redundant emergency power, enhanced structural vibration attenuation and augmented mechanical systems, as well as space that can be arranged in a variety of collaboration-friendly configurations. A portion of the ground level will be home to 25,000 square feet of lab incubator space for entrepreneurs and early-stage life science companies.<\/p>\n

A team of JLL life science experts in Houston and on the East and West Coasts is spearheading leasing for the building, which will sprout up along a lake at 3131 Holcombe Blvd. “We are in early discussions with several interested parties,” John Mooz, senior managing director with Hines, told Commercial Property Executive<\/em>.<\/p>\n

The five-story structure will also feature a 7,000-square-foot conference center, a 5,800-square-foot fitness facility, a 3,500-square-foot caf\u00e9 and restaurant space, and an outdoor garden. Hines and 2ML plan to break ground on Phase I of Levit Green in the second quarter of 2021, with the first tenants due to take occupancy in the fourth quarter of 2022.<\/p>\n

Houston’s new hub status<\/strong><\/h2>\n

Metropolitan Boston, San Francisco and San Diego continue to lead the list of the country’s life sciences meccas<\/a>, but Houston is fast emerging as a rising cluster. Major projects in the works that are set to further define the city as a life sciences leader include Texas Medical Center’s TMC3, Rice University’s The Ion and Texas A&M\u2019s Innovation Plaza, which together will add more than 1 million square feet of life science space to the market. “Even with these projects either existing or in the pipeline, demand is still anticipated to outstrip supply,” according to a year-end 2020 report by consulting firm The TICI Group of Cos.<\/p>\n

Levit Green\u2014which will ultimately encompass office, residential retail and hospitality components\u2014will play a notable role not just in answering the increasing demand for life science space, but also in the raising of Houston’s profile as a national life sciences center. The property, highlighted by several lakes and green space, will feature nine planned projects at full build-out, with as much as 4 million square feet of lab-centric mixed-use space.<\/p>\n

Levit Green has other implications as well. “This project illustrates a new level of recognition of the life sciences industry as an economic and civic magnet and its multiplicative effect on other types of real estate demand,” as JLL notes in a 2020 report. “Fueled by secure demand, life sciences real estate should move increasingly out of niche status and closer to a major sector in its own right.”<\/p>\n","protected":false},"excerpt":{"rendered":"

The lakeside building will rise on a 53-acre site adjacent to the Texas Medical Center. <\/p>\n","protected":false},"author":969,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,1589,21754,21793,21742],"tags":[32797,34257,34788,32796,41246],"class_list":["post-1004510263","post","type-post","status-publish","format-standard","hentry","category-development","category-featured","category-houston","category-medical-office","category-multimedia","category-latest","tag-hines","tag-hok","tag-hok-architects","tag-jll","tag-john-mooz"],"acf":[],"yoast_head":"\nHines, 2ML Reveal 1st Phase of Houston Life Science Campus - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hines-2ml-real-estate-release-first-glimpse-of-levit-green\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hines, 2ML Reveal 1st Phase of Houston Life Science Campus\" \/>\n<meta property=\"og:description\" content=\"The lakeside building will rise on a 53-acre site adjacent to the Texas Medical Center.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hines-2ml-real-estate-release-first-glimpse-of-levit-green\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-12T12:59:31+00:00\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-2ml-real-estate-release-first-glimpse-of-levit-green\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/hines-2ml-real-estate-release-first-glimpse-of-levit-green\/\",\"name\":\"Hines, 2ML Reveal 1st Phase of Houston Life Science Campus - 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