An executive with Skanska USA tells the Houston Business Journal‘s Jennifer Dawson that the American subsidiary of the Swedish project development and construction company will build and finance this new freeway-side Galleria spec office building all by itself. Design work for the 14-story tower and 8-story parking garage, though, was farmed out to Kirksey.
Where will it go? The 2.3-acre former site of Tony’s Ballroom at 3009 Post Oak Blvd., across the street from the Water Wall Park. Metro will likely want a piece of that property too: A thin, mostly triangular sliver along the property’s western edge is needed to accommodate the new Uptown Line set to run down Post Oak.
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The 300,000-square-foot building and garage are expected to cost between $60 million and $90 million, including the price of the land bounded on the east by the West Loop, on the south by Hidalgo, on the west by Post Oak and on the north by the Hampton at Post Oak senior living facility.
Skanska is purchasing the land from a Hines REIT subsidiary.
[Skanska executive vice president/regional manager Michael] Mair expects construction on the Houston building to begin by the end of 2010, whether a tenant has been signed or not. It will take two years to finish the building, giving it a 2012 debut date.
- Skanska likes building chances [Houston Business Journal]
- Previously on Swamplot: Trimming Uptown Trees and Driveways: Where Metro Is Shopping for Land on Post Oak Blvd.
Rendering: Kirksey, via HAIF poster swtsig
I know this is their commercial property division, but this is also one of the companies that is involved in financing, constructing, and operating new toll roads in Texas.
They built some of New York City’s new subways and the new World Trad Center station under the new buildings. They have a big presence in the US.
@kjb434
Who needs bank money when Skanska USA could use the toll money to fund the construction of the building? Hmmm, I need to start my own toll road construction company.