posted on July 07, 2011 22:27
Redstone Cos. on Monday confirmed plans to develop a hotel and additional office space or residences in the Galleria area.
Company officials unveiled the plans at Monday’s ground-breaking for a 318,000-square-foot office building on Post Oak between Westheimer and San Felipe to be anchored by BBVA Compass
bank.
Houston-based Redstone will build a lifestyle hotel with spa and fitness components, similar to The Houstonian Hotel, Club & Spa it owns at 111 N. Post Oak Lane, said Steve Lerner, president and CEO of Redstone.
The luxury hotel will have 150 to 250 rooms and an urban modern feel. The hospitality property will be developed in Phase II of the project in the next couple of years. Timing will depend on market conditions and financing, said Kim Phillips, a Redstone spokeswoman.
For Phase III, Redstone will explore all options, including a residential or office building, Phillips said.
Phase I's ground-breaking Monday kicked off construction of the main office tower on Post Oak. BBVA Compass is leasing 150,000 square feet in the building to house 800 employees. The office building is being developed in a joint venture between Redstone and Stream Realty Partners LP.
The facility, to be complete in April 2013, will also have approximately 15,000 square feet of interior restaurant space and 4,000 square feet of outside restaurant space.
6/13/11, Houston Business Journal