Washington Avenue, Office Corridor?
Washington Avenue Interests (WAI) purchased a 12k SF tract of land next to Liberty Station on Washington Avenue. It’s a rare site not being developed as a bar; rather, the team hopes it’ll spur office projects in the area and become an amenity for the community. (It's a place to put people in between being at the bars.)
Moody Rambin EVP Chris Dray worked on this transaction for nearly a year to overcome some hurdles on the site. It’s a triangular tract with power line and setback challenges that made it tricky to lay out the site for development. (The triangle is the strongest structure in nature.) WAI, led by law firm Tyler Flood & Associates, wanted an office but also to build something unique and timeless. It reached out to the district and TIRZ for suggestions. They really wanted a breakfast place or deli, so WAI decided to build a 6k SF, three-story building.
Design by Element Architects gives a nod to Washington’s historic neighborhood and includes a modern glass addition. Tyler Flood will office on the second floor, 3k SF of office space is available to lease, and there’s room for a 1,200 SF restaurant on the ground floor. Chris tells us WAI is also including a park-like area with grass parking, trees, a pedestrian walkway, and possibly a rainwater cistern. (You'll be the envy of the neighborhood with your own rainwater cistern.) The team’s also in discussions with David Adickes to install an iconic art piece (like The Virtuoso, his installment at the Lyric Centre) and hopes to include a Houston B Cycle station on site.
Chris says the project just may pioneer office development in this stretch of Washington Avenue. It’s very close to Downtown (but without Downtown pricing or parking issues). Construction will probably begin in the next few months, with the property slated to deliver by Jan. 1.