Downtown Houston Emerges as a Destination

HOUSTON – (Realty News Report) – Downtown Houston has become a vibrant destination, drawing a sizable increase in visitors in the post-Covid years, according to a new report from Downtown Houston Plus.

Boosting downtown’s draw are the bayou trail system, special events such as concerts, holiday and special events, and sports, including high-level performances by the popular Houston Astros, who won the World Series in 2022 and 2017.

The current pace of downtown visitation has resulted in an increase of more than 700,000 visits per year, compared to 2022, it was reported in the “Behind the Data: the Q4 2023 Market Report” webinar presented by Downtown Houston Plus, representing Central Houston, Downtown Houston District and Downtown Redevelopment Authority.

Most visitors, about 88 percent, hit town on the weekend, the report found.

Knowing and understanding when downtown is active can help entities and businesses located there plan and anticipate what’s needed and where, the report indicates.

The increasing downtown activity has not gone unnoticed by hoteliers.

An estimated 496 hotel units are in the pipeline to join the existing 8,648 in the submarket.

The 100-room Moxy Hotel, a conversion of the historic State National Bank Building, recently opened at 412 Main. The developer was Innjoy Hospitality, with design by New Orleans-based Campo Architects.

In December of 2023, construction started on a 17-story hotel is being developed by Neway Hospitality. The dual-branded hostelry will have a 144-room Holiday Inn Express and a 131-room Staybridge Suites. With a total of 275 rooms, the hotels will be located on Texas Avenue at Austin Street, just two blocks west of Minute Maid Park. At street level, the dual hotel development of Texas Avenue will have a 3,000-SF grocery market with a deli and coffee shop.

Another new project expected to inject energy into downtown is the 1550 on the Green, a 375,000-square-foot, 28-story office tower adjacent to Discovery Green and the Hilton Americas-Houston. The office tower, developed by Skanska, is expected to be followed in future years as part of a larger mixed-use Skanska project called Discovery West.

The lead tenant of the 1550 on the Green building is the Norton Rose Fulbright, which is expected to relocate in May. The law firm is leaving behind its downtown offices at the 51-story 1301 McKinney St. in Brookfield Properties’ Houston Center complex.

Brookfield Properties scored recently at Houston Center with a downtown hotspot called  Puttshack. Appealing to young adults, the mini-golf/bar/restaurant Puttshack outlet in Brookfield Properties’ Houston Center offers a high-energy nightclub vibe. Puttshack leased 26,000 SF in Highlight, which is Brookfield’s redevelopment of the Shops at Houston Center.


Feb. 15,  2024 Realty News Report Copyright 2024

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Photo credit: Cynthia Lescalleet, CALpix Copyright 2024

File: Downtown Houston Emerges as a Destination

 

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