HOUSTON – Tilman Fertitta, chairman of the Landry’s restaurant and entertainment organization, has announced plans for a 35-story mixed-use tower on Loop 610 about a mile north of the Galleria.
The 650,000-square-foot project will have 240 high-end hotel rooms, 120,000 square feet of office space and 22 apartment units, Fertitta said.
Plans for the 10-acre site, 1600 West Loop, on the west side of the freeway and just north of San Felipe, were first reported last year when Landry’s sought a variance with the City of Houston widen the two-lane Hollyhurst Street on the east side of the parcel.
“We welcome this addition to the Galleria and Uptown area, Houston’s premier destination for fashion, fine dining, luxury hotels, prominent office addresses and elegant high-rise living,” said John Breeding, president of Uptown Houston District. “Tilman Fertitta is setting the standard for luxury development. We are so pleased he has chosen the Uptown district as the area to build this incredible project.”
The project, called The Post Oak, is slated for 2017 completion. The timing of the project comes as Houston’s economy has moved into a down cycle as energy companies have announced layoffs and put excess office space on the sublease market. Last November, in a TV interview with Bloomberg News, Fertitta voiced concerns about the Houston economy, saying $50 a barrel oil would lead to a “crash” similar to 1986.
Landry’s, which has its headquarters building at site of the new Houston project, is the owner and operator of 500 eateries, including more than 40 brands such as Landry’s Seafood, Chart House, Saltgrass Steak House, Bubba Gump Shrimp Co., Claim Jumper, Morton’s The Steakhouse, McCormick & Schmick’s, Mastro’s Restaurants and Rainforest Café.
Landry’s also has an entertainment arm with attractions including the Kemah Boardwalk, the San Luis Resort Complex, the Galveston Historic Pleasure Pier and the Downtown Aquariums in Denver and Houston. Landry’s and its affiliated businesses generated over $2.7 billion in revenues in 2013.
Fertitta, through various wholly-owned affiliates, operates five Golden Nugget Hotels and Casinos which are located in Lake Charles, La.; Las Vegas and Laughlin, Nevada, Biloxi, Mississippi and Atlantic City, New Jersey.