More expansion is headed to the Texas Medical Center.

Houston-based Medistar Corp. is building Innovation Tower, a 48-story, 1.6M SF mixed-use development. Construction is scheduled to begin in the third quarter.

“Once completed, Innovation Tower will be the first Class AA tower in the Texas Medical Center offering world-class building amenities to create a distinct live/work/play environment,” Transwestern Executive Vice President Justin Brasell said in a news release. “Innovation Tower will be an iconic building and great complement to the Texas Medical Center. It will truly revolutionize the district with unmatched prominence and walkability to local hospitals and universities.”

Brasell and Lisa Bovermann will be responsible for leasing the tower.

The tower will be developed in two phases. Phase 1 will offer 477K SF of medical and life science office space with 35K SF floor plates above a parking garage for 1,700 vehicles. It will also feature retail and a penthouse-level restaurant and lounge.

Phase 2 will be developed to respond to market demand, possibly with 410 luxury high-rise residential units or more medical, biomedical and life science office space.

The tower will be close to Rice University, Rice Village, the Museum District, the Houston Zoo and Hermann Park Golf Course.

Innovation Tower joins a slew of developments planned or recently completed in the Texas Medical Center. It will be adjacent to the InterContinental Houston Medical Center Hotel at 6750 Main St. and the 35-story Latitude Med Center apartment tower at 1850 Old Main St. Wood Partners is also underway on a mid-rise residential development called Alta Med Main.