SIGNS ARE ON THE DOOR TO WEWORK’S NEW DOWNTOWN BRANCH AT 708 MAIN
The building on the corner of Main and Capitol — known since 2003 as the Great Jones building — is showing signs of the new WeWork office that’s heading into it. Last April, the workspace provider signed a lease for 86,000 sq. ft. in the building — originally billed as its first Houston location, although a smaller WeWork branch snuck in and opened on 3 floors of the Galleria I tower last December. 708 Main St. has been undergoing renovations since 2016 when its developers Midway and Lionstone Investments announced they planned to link the structure to its neighbor — the JP Morgan Chase building on the corner of Main and Rusk — via a first floor and mezzanine common area dubbed the Currency Lounge. The entire block between Capitol and Rusk is now being marketed as a single property termed The Jones on Main. [Previously on Swamplot] Photo of WeWork entrance: Swamplot inbox














Ralph Bivins explains how it came to pass that the Canada Pension Plan Investment Board, with its now-completed purchase of REIT Parkway, became the owner of 8.7 million sq. ft. of office space in Houston, including Greenway Plaza, CityWest Place, San Felipe Plaza, the Phoenix Tower, and Post Oak Central: “At one time Cousins and Parkway were separate companies with sizable holdings in Houston. The Houston office market tanked when oil fell from a high of $107 a barrel in June 2014 to less than $30 a barrel in early 2016. Houston energy firms laid off thousands of employees and vacated huge chunks of office space. Publicly traded firms with significant portfolios of Houston office space were under pressure. Security analysts criticized them. 



What’s going to replace the giant crosses on the east and west sides of the St. Joseph Professional Building towering over the Pierce Elevated once
“. . . Soon after I moved to Houston, I had money wired to me at this Western Union building (this would have been November of ’81). Didn’t make much of an impression on me. I think the façade had been stripped off, and the office itself was shabby.
I started work at HL&P in February of ’82, and our offices looked directly across the street to the construction site. The ‘big pour’ for the concrete foundation slab was quite an event. Starting very early on a Sunday morning, a seemingly endless parade of mixer trucks crept down Louisiana Street. Obviously, most of the block had been excavated, and the lot where Western Union sat (well, sits) was supported by a series of diagonal beams. After seeing the engineering required to save that lot, the lower ‘banking hall’ design for that side of the building makes sense.
While construction continued, the south side of the WU was given a fresh coat of paint with a large graphic proclaiming ‘A Gerald R. Hines Project‘ (or some such thing), which doubtlessly is still there, virtually unseen for 35 years.” [