HOUSTON – (Realty News Report) – Flexing its muscle as a premier downtown Houston mixed-used development, GreenStreet will add a luxury athletic club and co-working space to its tenant base next year.
Owned by Midway and Lionstone Investments, GreenStreet will be the second location for Life Time and its “urban athletic resort” concept that originated at Midway’s CityCentre in west Houston more than a decade ago. It will occupy 56,000 SF in downtown.
The company will also bring its premium workspace, called Life Time Work, to GreenStreet’s 11-story office building occupying 38,000 SF.
Lionstone and Midway envision creating an urban campus environment at GreenStreet, which struggled previously as the Houston Pavilions before their purchase of the property. Spanning four blocks from Main Street to Caroline Street, GreenStreet has a total of 420,000 SF of office space and is home to the boutique Hotel Alessandra that opened in 2017, several restaurants, the House of Blues, art installations and free events on The Lawn.
“We are happy Life Time has selected another Midway development after our successful collaboration at CityCentre,” said Chris Seckinger, vice president and investment manager for Midway. “Life Time adds an all-important healthy living component to GreenStreet, a mixed-use district that is being redeveloped as the new model of urban lifestyle.”
The addition of a fitness club to the downtown tenant base may be a sign of Life Time’s confidence in the city’s focus on growing its downtown residential base, which currently stands at 7,700 according to the Downtown District.
Parham Javaheri, Life Time executive vice president of real estate and development, said GreenStreet aligns with its vision to meet the changing needs of consumers as a “lifestyle asset” to bustling and successful developments.
GreenStreet’s owners are doing some renovations and property enhancements, including upgrading the office tower with a new three-story lobby.