New Commercial Mixed Use Building in Allen Parkway Houston,TX.
The development team behind a future mixed-use project on Allen Parkway near downtown has released renderings of the project.
Houston-based DC Partners and Tianqing Real Estate Development LLC — the U.S. subsidiary of Tianqing Group Real Estate Co. Ltd., one of the largest real estate developers in China — teamed up to develop the $500 million-plus projectlast year. Architecture firm HOK designed the development, according to an April 25 press releas.
The development will be on about 6 acres at the southeast corner of Allen Parkway and Gillette Street. DC Partners and Tianqing purchased the property from HTX Real Estate Partners last May for an undisclosed price, Acho Azuike, COO and managing director of DC Partners, told the Houston Business Journal in September.
Phase one of the project will include a luxury hotel and condominium tower, retail pavilion and office building with more than 200,000 square feet of space. The design will incorporate “architecture never before seen in the Houston area, combined seamlessly with lush green space throughout the development,” as well as features such as “balcony plunge pools,” according to the April 25 release. More specific details about the development were not provided.
New York-based Thompson Hotels will operate the hotel portion of the project. The hotel will offer "a locally inspired Texas experience that incorporates the Thompson brand DNA," according to a January email from a Thompson spokesperson. Azuike told HBJ in September a potential hotel and/or residential tower could have around 150 to 180 or more hotel rooms and/or residential units. Thompson Hotels has properties in New York City, Chicago, Seattle and Nashville, as well as one in Toronto and three in Mexico, according to its website.
Nick Hernandez and Crystal Allen of Transwestern are handling the retail leasing, while Paul Coonrood and Craig McKenna of Stream Realty Partners are handling the office portion.
As of September, Tianqing and DC Partners were expecting to start construction on the project in late 2017 or early 2018.