47-story Texas Tower reaches construction milestone

Developers marked a construction milestone for Texas Tower, a 47-story office building on track to open late this year at 845 Texas Ave. in downtown Houston as companies are expected to begin returning to offices. Hines and Ivanhoé Cambridge are developing the 1.2 million-square-foot building near the Theater District on the block formerly occupied by the Houston Chronicle. As part of an ancient construction tradition to bring good fortune, an evergreen tree was hoisted atop the building Monday to signal completion of the framing of the structure. About 30 people attended the topping out ceremony, including representatives from Hines, the construction crew from Gilbane Building Co. and real estate services firm Cushman & Wakefield.

The milestone was reached a month ahead of schedule, despite some construction material delays related to COVID-19, according to Hines. Texas Tower broke ground in July 2018 as Houston’s office market was recovering from a drop in demand after oil prices crashed in 2014. It is slated for completion in late 2021, coming online in an environment reshaped by a global pandemic that has changed how companies use office space. Leasing interest has picked up after a quiet 2020, according to Hines. The company is in talks with a range of companies from the financial, law, energy accounting and tech industries. “We know there’s a demand for collaboration,” said John Mooz, senior managing director for Hines. “We are hearing resoundingly: ‘We do our best when we work together. Our company performs better.’” Designed by Pelli Clarke Pelli, the building near Jones Hall is situated diagonally on the block to optimize views of downtown and to provide more natural light. Healthy building features, such as two 12,000-square-foot gardens on the 12th floor and touchless systems for elevators, are part of the plan. Cantilevered bays on each side of the building provide three walls of glass with spaces that can be used for internal stairs, atriums and communal space.