Monday , 27 January 2020
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Houston Texans Owner Bob McNair Buys Prime Tract Near Galleria

HOUSTON – A group led by Houston Texans owner Bob McNair has acquired one of the few remaining development tracts near the Galleria, according to news reports.

The six-acre tract, at the  northwest corner of Richmond Avenue and Post Oak Boulevard, is located just south of the WaterWall park and Williams Tower.

Once the site of a Steak & Ale restaurant, the land was scraped clean over a decade ago by the Hines real estate company. The site has been viewed as one of Houston’s most potent tracts for development

Nancy Sarnoff, veteran real estate reporter for the Houston Chronicle, reported the site was purchased  by Palmetto RPO LP, an affiliate of McNair’s  investment arm. The seller was Dubai-based Deyaar Development Corp.

McNair, a billionaire, was awarded the National Football League franchise for the Texans in 1999. Houston Texans of the NFL since the team was founded . The Texans won only two games last year, building upon a history of being either bad or mediocre for the most part. The team has never been to the Super Bowl.

The Texans recently received criticism locally for failing to draft regional favorite Johnny “Johnny Football” Manziel, a Heisman Trophy winning quarterback from Texas A&M.  Instead, the Texans are heading into the season with lightly regarded Ryan Fitzpatrick at QB.




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