{"id":996861,"date":"2026-08-12T22:07:17","date_gmt":"2026-08-12T22:07:17","guid":{"rendered":"https:\/\/www.europesays.com\/us\/996861\/"},"modified":"2026-08-12T22:07:17","modified_gmt":"2026-08-12T22:07:17","slug":"city-block-sold-for-new-houston-center-parking-garage","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/996861\/","title":{"rendered":"City Block Sold For New Houston Center Parking Garage"},"content":{"rendered":"

Stream Realty Partners<\/a> and its joint venture partner acquired a full city block of Downtown Houston<\/a> to build a parking garage for the city’s largest office complex.<\/p>\n

\"A<\/p>\n

Photo credit: Stream Realty Partners<\/p>\n

Houston Center parking garage and skybridge rendering<\/p>\n

The 12-level parking garage will have 2,053 parking spaces and be connected to One Houston Center<\/a> by a skybridge. Groundbreaking is slated for 2027.<\/p>\n

\u201cThe acquisition of Block 95 represents another significant investment in the long-term future of Houston Center and Downtown Houston,\u201d Stream partner Kyle Valentine<\/a> said in a statement.<\/p>\n

Stream and pension fund AustralianSuper<\/a> took over<\/a> Houston Center in April 2025 after Brookfield Properties<\/a> transferred its ownership. AustralianSuper was the lender for Brookfield\u2019s $219M mezzanine loan on the property.<\/p>\n

At 4.2M SF, Houston Center is the city\u2019s largest office complex. It includes four buildings, three of which are at least 1M SF and another is 985K SF, along with a retail development called The Highlight at Houston Center.\u00a0<\/p>\n

Brookfield\u00a0acquired the property<\/a>\u00a0for $875M in 2018 and, in 2023, completed a major renovation to modernize the buildings built in the 1970s and 1980s.<\/p>\n

The city block purchased for the new parking garage is bordered by Walker, Rusk, Caroline and San Jacinto streets and currently houses a surface parking lot.\u00a0<\/p>\n

The garage will increase the complex\u2019s parking ratio to two spaces per 1K SF. It will include electric vehicle charging stations, a parking guidance system, security features, enhanced lighting and \u201cgenerous drive aisle widths.\u201d\u00a0<\/p>\n

Ramsey March<\/a> and Blake Bell of Stream\u2019s development services team will oversee the development. Stream\u2019s John Rogers and Alex Roberto will oversee the investment strategy under Chief Investment Officer Adam Jackson<\/a>. Stream\u2019s Ryan Barbles<\/a> and Matt Asvestas<\/a> will lead leasing efforts.\u00a0<\/p>\n

\u201cThis investment reinforces our commitment to creating a premier workplace destination that meets the evolving needs of today’s office users,\u201d Valentine said.<\/p>\n

Houston Center lost some major tenants in recent years, including two namesakes, LyondellBasell<\/a> and Norton Rose Fulbright<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Stream Realty Partners and its joint venture partner acquired a full city block of Downtown Houston to build…\n","protected":false},"author":3,"featured_media":996862,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5130],"tags":[13243,26489,9979,4345,399445,399446,78002,358,3187],"class_list":["post-996861","post","type-post","status-publish","format-standard","has-post-thumbnail","category-houston","tag-australiansuper","tag-brookfield-properties","tag-downtown-houston","tag-houston","tag-houston-center","tag-kyle-valentine","tag-stream-realty-partners","tag-texas","tag-tx"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/117084818271470106","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/996861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=996861"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/996861\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/996862"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=996861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=996861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=996861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}