HOUSTON – A new upscale hotel, developed in partnership with the Valencia Group, will be built to create new momentum at the GreenStreet mixed-use development in downtown Houston, according the project’s new owners, Midway Cos. and an investment group led by basketball legend Magic Johnson.
GreenStreet, a 570,000-sf project covering four blocks east of Main Street, was formerly the Houston Pavilions, which opened in the recession and was sold to the Midway group in 2012. It was renamed GreenStreet and the city has been waiting for see what Midway will do to recreate the project.
Downtown Houston has been criticized for having a shortage of hotel rooms, which has prevented the city from being in the highest echelon in attracting conventions. The new hotel will bolster Houston’s convention appeal.
The new 225-room hotel at GreetStreet, slated to open in late 2016, will be called Hotel Alessandra.
Midway and the Valencia Group have received a great deal of acclaim for CityCentre, a mixed-use project near the intersection of the Katy Freeway and the Sam Houston Tollway, near the Memorial area of West Houston. CityCentre has office, multifamily, townhomes, shops, restaurants and Hotel Sorella, which is operated by the Valencia Group. Hotel Sorella, a Condé Nast Gold List hotel which opened in 2009, commands some of the highest nightly rates in Houston.
Designed by Gensler, plans also include architectural details that will allow for sweeping views of the city and lavish indoor-outdoor spaces.
“Our team is proud to partner with Midway in creating what will be one of the most impactful new additions to the Houston hospitality scene,” said Valencia Group President and CEO Doyle Graham, Jr.
GreenStreet is a mixed-use project, spanning four city blocks, connected via sky bridges and above-ground walkways. The development, located at 1201 Fannin, includes the fully occupied, 11-story regional headquarters for NRG Energy, one of the largest power generating companies in the country, along with restaurants, retailers and venues including the House of Blues, Forever XXI,
McCormick & Schmick’s and Lucky Strike. Earlier this year, re-development construction commenced on the 568,294 square foot development, which will include a three block urban linear park, mid-block pedestrian crossings, water features, a central courtyard in the project block between Fannin and San Jacinto, outdoor patios, updated wayfinding signage and lighting – leading to an overall enhanced visitor experience.