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CityCentre, the mixed-use development by Midway Cos. that opened near Beltway 8 and the Katy Freeway in 2009, continues to grow with more office and residential projects.
The CityCentre Three office building, just west of Hotel Sorella, has welcomed its first tenant. Texas A&M University's Mays School of Business has opened in the building, which houses both its Professional and Executive MBA programs. Montco Offshore and LLOG Exploration Co. have also leased space.
Construction of CityCentre Four, another six-story office building that will contain 120,000 square feet, began this summer. Two tenants, ERM and Petrotechnical Data Systems, have signed leases in the building, which is slated for completion next year. The ground floor will have 12,500 square feet of retail and restaurant space. Muoz + Albin, Kirksey and Hoar Construction made up the project team for both office buildings.
On the residential side, Simmons Vedder Partners is developing another multifamily project next to its Domain at CityCentre. It recently broke ground on Icon at CityCentre, a 160-unit project with five stories of rental units above two levels of parking. Steinberg Design Collaborative is the architect, and Kathy Andrews Interiors is providing design services. Opening is planned in 2014.
Recently announced retail and restaurant tenants in CityCentre are: BeHuman Gallery, Charming Charlie, Dryden Kreps men's clothing, ENVI Boutique, Kendra Scott boutique, Muir Fine Art Gallery and Texas de Brazil, a Brazilian steakhouse.
Situated on 37 acres in the Memorial area near the Energy Corridor, CityCentre was planned as an urban-style development in a suburban setting. It combines entertainment, dining, shopping, office, a hotel and conference center and residential components around European-style plazas.
Elsewhere, Midway Cos. recently teamed up with Canyon-Johnson Urban Funds to revitalize the Houston Pavilions office and retail development spanning three blocks downtown.
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Deal of the Week: Thriving CityCentre adds 2 more projects
THE WOODLANDS The development of Research Forest Lakeside is moving along with Building 4 and a parking garage well under construction on the 77-acre site.
Warmack Investments is developing Research Forest Lakeside, a project that will consist of 11 Class A office buildings situated along the banks of Lake Woodlands for a total of 1.9 million square feet in office space. Also included on the site will be 36,000 square feet of retail space on the corner of Research Forest Drive and Lakeside Boulevard.
Building 4, James Warmack said, will be 12-story Class A office building with 300,000 square feet.
(The interior) is a combination of granite, limestone, glass and wood, he said. It will be very elegant.
The Woodlands-based Talisman Energy, which occupies Building 2, will move into the top six floors of Building 4 when it is complete, Warmack said. As for the rest of the building, he has not inked any leases but has had a great deal of interest in the space. The building is expected to be ready for move-in around May 2013.
Im very happy with the level of interest, he said. I dont think we will have any issues getting these buildings leased out.
The campus already is home to two Aon Hewitt buildings (1 and 3).
According to Warmack, his Colorado Springs, Colo.-based company acquired the property when it bought Hewitts real estate portfolio in 2005.
Construction on Building 5 will begin in March 2013 and will be eight stories with 200,000 square feet of office space. According to Warmack, Repsol USA will occupy the entire building.
Buildings 4, 5 and the seven-story parking garage will all be centered around a halo that will allow people to walk from the garage to the buildings under a covered walkway.
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Research Forest Lakeside taking shape
WASHINGTON--(BUSINESS WIRE)--
McDermott Will & Emery today became one of the first international law firms to locate its office on Capitol Hill as it officially opened the doors of its new buildingat 500 North Capitol Street. Moving from its prior address downtown to its newhome near Union Station, the Firm became the primary occupant of the new McDermott Building at the corner of North Capitol Street and E Street, N.W.
The new 229,112 square-foot McDermott Building will be home to over 400 D.C.-based lawyers and staff as well as other business and retail outlets. It strategically places McDermott lawyers within steps of the U.S. Congress, the Supreme Court, the Securities and Exchange Commission, the Federal Trade Commission Annex, the Tax Court, the Federal Energy Regulatory Commission, the Thurgood Marshall Judicial Center Complex, the Library of Congress and Union Station.
The new building also represents one of the largest private sector real estate projects completed in Washington this year. As part of the opening, James C. Dinegar, CAE, President and CEO of the Greater Washington Board of Trade, will join McDermott officials for the ribbon-cutting ceremony. Earlier this year, the McDermott Building was named by the Washington Business Journal as the winner of its Urban Office Lease Award.
It is a real pleasure to see all our hard work come to fruition with what is now one of the premier addresses on Capitol Hill, said Bobby R. Burchfield, co-partner-in-charge of McDermotts Washington, office. A project of this scale and magnitude could not have been accomplished without exceptional teamwork. We thank everyone who has been involved in planning this relocation over the past couple of years. Their dedication to this project has allowed our vision for the future of McDermott in Washington to finally come to life.
Originally built in 1966, the building has been completely redesigned and redeveloped to meet the current and future needs of McDermott. Building upgrades include state-of-the-art technology, such as new mechanical and electrical systems, elevators, and an entirely new, glass faade. Built to meet the U.S. Green Building Councils LEED Gold standards for energy efficiency and environmental sustainability, the space features abundant natural light, Energy Star-rated equipment and appliances, new furniture with recycled components, and locally sourced building materials. The office also offers a top-floor conference center, a rooftop terrace with panoramic views of Capitol Hill, an on-site parking garage and prominent exterior signage to reinforce the McDermott brand.
With this move, McDermott becomes one of the first international law firms to be based on Capitol Hill, said Paul Thompson, co-partner-in-charge of McDermotts Washington office. We believe we are on the cusp of a natural evolution as major law firms and large corporations take a closer look at their local real estate investments. McDermott is bullish onthe growth of Capitol Hill as a business district,an important shift weexpect to play out over the coming years.
Since its opening in 1978 with two lawyers, McDermotts Washington, D.C., office has become a broad ranging practice comprising 209 attorneys. Originally known for representing clients before government agencies, congressional committees, the executive branch, the legislative branch, and before federal and state courts, McDermotts Washington, D.C. lawyers now advise clients on matters ranging from corporate mergers and acquisitions to intellectual property litigation and protection, regulatory issues, employee benefits, white collar and securities defense, tax and other areas. The Firm services clients in a broad spectrum of industries that include among others, multinational corporations, government and political institutions, environmental agencies, international organizations and high technology companies.
Guiding the complete renovation was Boston Properties Executive Vice President Raymond Ritchie, who in partnership with Clark Enterprises, first saw that the site had potential beyond its original construction. McDermott Will & Emery LLP was represented by Lois Zambo and Steve London of Studley, a global real estate advisory firm. Boston Properties and Clark Enterprises were represented by Art Santry, Phillip Thomas, Zeke Dodson and Kerri Mulligan-Salih of Cassidy Turley. The Clark Construction Group performed the base building renovation as well as the tenant improvements and Gensler was the architect for both phases of the project.
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McDermott Cuts Ribbon on New Washington, D.C. Office Building
A recently finalized deal to build an office tower in a church's parking lot could add more than $1 million in tax revenue to local coffers.
Earlier this month, Houston's First Baptist Church said it plans to lease its nearly 4-acre parking lot to the Hines development firm. Hines has proposed constructing an office building and parking garage on the now tax-exempt parcel located along a busy stretch of Interstate 10 near the West Loop, converting the property into commercial use.
The parcel would then become subject to city, county, school and related taxes for the first time in decades. Harris County Appraisal District Chief Appraiser Jim Robinson said that's a rather unusual occurrence.
"Normally, once a property goes exempt for a church it usually stays exempt," Robinson said.
The amount of taxes owed would depend on the new building's value.
The cost to erect a high-rise office structure, similar in size to what Hines has proposed, ranges from $100 to $120 per square foot, according to a construction cost report from Kirksey Architecture.
At a 3 percent tax rate, that could amount to a tax bill of at least $1.2 million just for the office building. The 1,500-car parking garage, which likely would be taxed as well, would generate an additional amount.
As a nonprofit organization, First Baptist still would be exempt from paying taxes on real- estate income generated by the deal, church spokesman Steven Murray noted.
Under the terms, Hines would lease the land from the church for at least 99 years. The church did not disclose the value of the lease.
First Baptist has cited a lack of parking as the impetus for the arrangement.
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Deal to build tower on church land benefits city and county
All of the structural components of the new neuroscience and psychology complex have been completed and the two buildings will be fully operational next fall, according to program manager in the Universitys Office of Design and Construction Mark Wilson.
The construction company Barr & Barr the same firm that worked on Lewis Library and the Lewis-Sigler Institute for Integrative Genomics, among other buildings broke ground on the new site in 2010, and the construction is expected to be fully complete by spring 2013.
The two buildings located behind Poe Field on Washington Road are connected by a public foyer whose main doors face Carl Icahn Laboratory and can be accessed from across Washington Road, via Streicker Bridge. A tunnel in the A-level will lead to the B-level of Icahn and continue up-campus along Washington Road all the way to Guyot Hall.
Currently, the company is laying the stone flooring and carpeting, Wilson said. Window installation will occur within the next two to three weeks.
Our biggest push is to finish before winter hits so that we can have good humidity control, Wilson said.
Once the humidity is controlled, Wilson explained, the construction crew will be able to place wooden furnishings such as desks and shelves in faculty offices.
The new psychology building will replace the functions of Green Hall, located across Washington Road from Firestone Library. The neuroscience building will house the interdisciplinary Princeton Neuroscience Institute, which is temporarily located in Thomas, Moffett and Schultz laboratories with the molecular biology department.
The psychology building will be closer to Washington Road than these temporary laboratories. Stretching seven stories above and below ground, the building has a total of 46,000 square feet.
Data processing rooms in the upper levels of the building have a view of Poe Field and the Graduate College tower. Faculty offices will be located along the Washington Road side of the building.
The public space connecting the two buildings will be 30,670 square feet in size and will be one level above ground. The lobby will look down into the A-level student center, where tables and chairs will be set up and provide a place for students and faculty to work.
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After 3 years, neuroscience building construction to be completed next fall
US 19 wreck sends 3 to the hospital US 19 wreck sends 3 to the hospital
Updated: Sunday, September 30 2012 11:21 PM EDT2012-10-01 03:21:23 GMT
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Updated: Sunday, September 30 2012 9:42 AM EDT2012-09-30 13:42:50 GMT
One big construction project that is underway in Albany, the building of the new SOWEGA Council on Aging Life Enrichment Center.
The former Byne Memorial Baptist Church building on West Society near Jefferson Street is being gutted and refurbished. A four thousand square foot addition is also being built.
Right now the SOWEGA Council on Aging has five offices scattered around town. The new center will bring them together under one roof.
"It's going to be a lot easier for people to come and find it all in one place. So it will be more of a one stop shop. We'll have all the information needed for anyone as well as programs and services," said Izzie Sadler, SOWEGA Council on Aging Development Director.
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Construction underway on new SOWEGA building
MANILA, Philippines - The number of new private construction projects were up 11.2 percent in the second quarter from a year ago, the National Statistics Office (NSO) reported yesterday.
Preliminary results of the NSOs construction statistics for the April to June period showed the number of new construction projects from approved building permits nationwide reached 30,614, higher than the 27,525 in the same quarter last year.
The NSO said the aggregate value of construction projects during the quarter also rose 9.4 percent to P60.9 billion from P55.7 billion in the same period last year.
University of the Philippines economist Benjamin Diokno said in an e-mail that while the number of building permits may have risen in the second quarter, it is not surprising private construction as measured in the national accounts was flat in nominal terms and down 2.6 percent in real terms since the acquisition of building permits is just the first step toward actual construction.
Some projects may have been delayed, downsized, or will be completed later in the year, he said.
He also said the rise in the number of building permits in the second quarter from last year may be seen as catching up with private constructions lackluster performance last year.
On a full-year basis, the number of approved building permits were down slightly to 112,881 last year from 113,230 in 2010.
The NSO said residential-type building projects climbed 10.6 percent to 21,118 in the second quarter compared to the previous year.
These projects were valued at P27.5 billion, an 18.2 percent increase from the same period last year.
The number of non-residential construction projects likewise grew 15.5 percent to 3,937 from 3,409 during the same quarter of 2011
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Private construction projects up 11.2% in Q2
DURHAM, N.C.--(BUSINESS WIRE)--
The Hart Senate Office Building, the third and largest office building serving the U.S. Senate, now features energy-efficient LED lighting by Cree, Inc. (CREE). More than 150 Cree CR22 architectural LED troffers were recently installed in the American Grill, Sundry Shop and main hallway of the Hart Building delivering a 33 percent reduction in annual energy costs.
Cree CR22 linear luminaires replaced 130 CFL downlights and linear fluorescents throughout the Hart Building, updating the buildings outdated ceiling grid. Designed to last 50,000 hours or more, Cree CR22 linear luminaires not only reduce energy consumption and lower utility expenses, but the new fixtures also minimize maintenance and operational costs for the Senate building.
The CR series is truly a no-compromise alternative when upgrading fluorescent lighting, said Christopher Ruud, vice president global sales, lighting, Cree. Delivering higher-quality light, longer life and greater energy savings than comparable fluorescent options, CR troffers are a natural fit for office settings like the Hart Senate Office Building.
A nine-story structure, the Hart Building has a distinctly contemporary appearance. When its construction was authorized by Congress, the architects sought to design a flexible, energy-efficient building that would accommodate Congressional business and the new technology of the modern Senate.
Ruud continued, Thoroughly modern when it was built, the LED lighting upgrade will allow the Hart Buildings facility managers to realize sizeable economic benefits, while continuing the mission set forth by the buildings original designers.
About Cree
Cree is leading the LED lighting revolution and making energy-wasting traditional lighting technologies obsolete through the use of energy-efficient, mercury-free LED lighting. Cree is a market-leading innovator of lighting-class LEDs, LED lighting, and semiconductor products for power and radio-frequency (RF) applications.
Cree's product families include LED fixtures and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, power-switching devices and RF devices. Cree products are driving improvements in applications such as general illumination, electronic signs and signals, power supplies and solar inverters.
For additional product and company information, please refer to http://www.Cree.com/Lighting. To learn more about the LED Lighting Revolution, please visit http://www.creeledrevolution.com.
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Cree LED Lighting Shines in the Hart Senate Office Building for Improved Savings
Northwestern Mutual Life Insurance Co.s plans for a new office building to replace the 16-story, 451,964-square-foot East Building on its downtown campus appear to be focused downtown, rather than at its Franklin campus.
In addition, some Northwestern Mutual employees who were giving tours of the companys headquarters during last weekends Doors Open Milwaukee event told members of the general public that the company plans to replace the East Building with a new building in the same footprint.
A year ago the company announced plans to tear down the East Building and said it had not determined the size, scope or location of what will replace the building. The company said it would evaluate options for meeting those space needs either at our downtown campus, Franklin campus or a combination of both.
One year later, a company spokesman says a decision still has not been made.
This is an ongoing process and we need time to evaluate all of the options, said Betsy Hoylman, director of media relations for Northwestern Mutual. Well have something to announce by the end of the year.
Hoylman said the companys tour guides were just giving their opinion during Doors Open Milwaukee about what will replace the East Building.
The people giving the tours dont sit on our corporate committees that are making these decisions, she said.
Some commercial real estate and construction industry sources say they have heard about plans for a new building at Northwestern Mutuals downtown campus but have not heard about any plans for a new building at the companys Franklin campus.
One source said he heard from Franklin officials that the company had been in talks with Franklin officials about a possible expansion of the campus there, but those talks have been dormant for a few months.
Theres nothing to report, said Franklin City Attorney Jesse Wesolowski, who declined to elaborate.
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Signs point to new downtown office building for NML
The regions office construction market is making a strong comeback, driven by the expansions of medical and biotechnology companies that are funding new buildings going up in Bostons Seaport District, East Cambridge, and suburbs along Route 128.
More than 4.7 million square feet of office and laboratory space is under construction in the Boston area, up from just 430,000 square feet in summer 2011, according to the real estate firm Richards Barry Joyce & Partners.
The increase bodes well for the states construction industry, which has lost 5,200 jobs this year and has yet to rebound from a recession that halted building activity. Real estate specialists said that is bound to change in coming months as the fundamentals of the market continue to improve, with many companies looking to add space.
The office market overall is in good shape, said Joe Fallon, managing principal of the Boston office of Cassidy Turley, a national real estate services firm. Vacancy rates are down and rents are increasing. The laws of supply and demand are working more favorably now than they were 24 or 36 months ago.
The construction upturn is largely tied to the growth of biotechnology and medical companies that are building offices because of a lack of existing space in desirable areas such as Cambridge and Bostons Seaport District, which has been renamed the Innovation District by Mayor Thomas M. Menino.
But construction activity is not limited to those types of firms. Liberty Mutual Life Insurance Co. is building a tower in Bostons Back Bay, and State Street Corp. is planning a new complex in the Seaport District. Also, Keurig Inc., the coffee brewer, is constructing a headquarters in Burlington, and EF Education First, a for-profit provider of travel and academic programs, broke ground this week on an office building in Cambridge.
Most of the additional space is already leased to specific companies, with developers still unwilling to risk building on a speculative basis in a slowly recovering economy. But one spec building recently got underway in Burlington, the first such project to move forward since 2008.
Bob Richards, a partner with Richards Barry Joyce, said Burlington and other northern suburbs along Route 128 have experienced a growth spurt in recent months. Overall, tenants in that market accounted for 580,000 square feet of additional space in the last quarter.
Thats the best net absorption weve seen in that area in 12 years, Richards said. Its clearly amazing news for that segment of the market.
Real estate specialists said those communities are landing more companies because of their growing mix of popular restaurants and retailers, as well as new apartments and ownership units to house employees.
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Office construction makes a comeback in Boston area
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