Houston Office Buildings | Tenant Representation

Makeover for historic downtown building.

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A private partnership called 500 Fannin LLC has purchased the historic downtown building at the corner of Fannin and Prairie.

The 1932 building originally housed the Wilson Stationery & Printing Co. and was most recently owned by Hilcorp Realty.

The new owners plan to renovate the four-story building, which also has a basement, and rent it out to commercial tenants.

The developer will have the help of a recently approved historic preservation grant of about $888,000 from the Downtown Redevelopment Authority. The grant is subject to the completion of the construction of the façade and starts in the authority’s fiscal year 2012.

The Downtown Redevelopment Authority operates the tax increment reinvestment zone that encompasses 60 downtown city blocks. In such zones, some of the property taxes collected from property owners in the area are set aside for reinvestment in the zone.

The building has about 30,000-square-feet of space.

Below is a picture I took this morning, but here’s a flickr page with pictures of the building before it was boarded.

Purva Patel

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http://blog.chron.com/primeproperty/2011/04/makeover-for-historic-downtown-building/ Posted by Purva Patel on April 18, 2011 at 11:16 am

This is a very exciting office building project for downtown Houston that will enhance the immediate area significantly and add quality office space to the North side of downtown Houston east of Main Street.

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