Posted Sep 20, 2018, 1:32 AM
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Join Date: Jan 2009
Location: 360, St. Edwards
Posts: 12,383
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HOUSTON | 200 Park Place | FT | 15 FLOORS
Developer: Stonelake Capital Partners
Architect: Beck Architecture
Type: Office, (200,000 sq ft), Retail
Location: 4200 Westheimer, Houston
Construction Timeline: Feb 2019 Start Date - Spring 2020 Completion
15-story office tower to break ground near River Oaks District
Quote:
A 200,000-square-foot office building will soon rise inside the Loop near the River Oaks District.
Austin-based Stonelake Capital Partners will break ground in January 2019 on Park Place Tower, a 15-story office building at the intersection of Westheimer Road and Mid Lane, William Peeples, vice president at Stonelake, told the Houston Business Journal. Stonelake is already negotiating with two tenants to occupy space in the building, according to Stonelake's co-founder Kenneth Aboussie.
Both tenants are financial services companies with presences in Houston, according to Aboussie. The building should deliver in spring 2020, Peeples said.
“We believe this is the right time to deliver to the Galleria area a new, Class-A, luxury office building with first class amenities,” Peeples said in a statement.
Park Place Tower will contain retail on the first floor.
There will also be multiple signage opportunities at the building, Peeples said.
Back in August 2016, Stonelake developed a five-acre park on the land at Westheimer Road and Mid Lane. The park was always a placeholder, though – Stonelake eventually planned to develop a mixed-use project on the land.
Stonelake still has 1.4 acres available at Park Place, but Aboussie said that land will remain undeveloped as an open green space.
"We are committed to maintaining a large park for open space," Aboussie said. "Having a well-designed urban park in the center of the development will be one of many features that distinguishes Park Place."
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Last edited by Urbannizer; Feb 19, 2019 at 9:03 PM.
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