McNair Interests to Transform Uninhabited Six-Acre Site Into Luxury Project with 150-Room Hotel, 350,000 SF of Office and 30,000 SF of Retail
McNair Interests, a personal financial investment and management business, revealed plans to turn a vacant six-acre site in Houston’s Classy district into a 1.2 million-square-foot luxury mixed-use task.
The development, dubbed 3200 Post Oak Boulevard, would be situated between the very best Purchase 5133 Richmond Ave. and the Broadstone Post Oak Apartment complex. The task would include a 150-room Rosewood Hotel with 80 luxury homes, an approximately 350,000-square-foot, Class A workplace tower and around 30,000 square feet of upscale retail. The task is slated to break ground in 2019 and deliver in 2023.
The project’s height could not be verified, but preliminary renderings recommend near 50 stories, which would make it Uptown’s second-tallest building behind only the 64-story Williams Tower, just 2 blocks away. A contractor and any leasing brokerages have yet to be selected.
“Our vision redefines the southernmost entryway of Post Oak Boulevard and the Uptown District, merging a distinctive, advanced design with Houston’s future. We are delighted for what this project will give our city and to visitors from around the globe,” stated Cary McNair, chairman and chief executive of McNair Interests.
McNair Interests is a private equity investment firm active in real estate and energy advancement projects. Cary McNair also servces as the president of the McNair Medical Institute. He is the kid of Houston Texans owner Bob McNair.
The job is to be integrated into Uptown’s Post Oak Boulevard transit corridor task, which is adding a bus lane and promenade through the heart of one of Houston’s most affluent neighborhoods. The job has remained in the preparation phases for several years but began building a few months earlier.
Uptown District Director of Research Study and Economic Advancement Bob Ethington told CoStar the job shouldl be primarily complete by the end of year. The southern portion of the project, near 3200 Post Oak, will likely take longer, as it will be integrated into other Texas Department of Transport jobs along Interstate 610 and I-59. As soon as complete, articulated buses will connect the Galleria and Uptown along Post Oak Blvd from 59 to I-10, even more linking a currently bustling transit corridor.
At the other end of the Post Oak Boulevard task sits another development with a number of resemblances. Houston Rockets owner Tilman Fertitta recently debuted his own mixed-use task, The Post Oak Hotel, a $350 million high-end hotel with 150,000 square feet of Class A workplace atop 35,000 square feet of retail.
The Robert and Janice McNair Foundation acquired the Classy site from Dubai-based Deyaar Development Corp. back in 2014. CoStar approximates the land’s evaluated worth at $19,477,388.
Chicago-based Skidmore, Owings & & Merrill LLP is the architect, and Houston-based Patrinely Group will handle the task.