Firm Begins Construction to Transform Premier Downtown Block with Green Office Tower, its Fourth Real Estate Project in the Houston Market
Skanska announced today that it will start construction on Capitol Tower, a 35-story Class-A office development in the heart of downtown Houston, after reaching a lease agreement with Bank of America.
Under the terms of the lease, Bank of America will occupy a total of 210,000 square feet, spanning six-and-a-half floors of the sustainable office tower. The company will take 205,000 square feet of office space, as well as 5,000 square feet of retail space in the tower. The tenant plans to move in the first half of 2019. CBRE represented Skanska, the developer and owner of the project, and JLL represented Bank of America on the deal.
Located at 800 Capitol Street, Capitol Tower is situated at one of Houston’s most desirable locations in the central business district, near landmark cultural neighbors that include the Theater District, the historic Market Square and Buffalo Bayou Park.
“Houston is an important growth market for Bank of America,” said Hong Ogle, Houston President, Bank of America. “We are pleased to be the anchor tenant at the tower, giving us the opportunity to co-locate our Merrill Lynch, U.S. Trust, Global Banking & Markets, Retail and Home Loans teams so we can have stronger collaboration in better serving our clients while ensuring responsible growth to our company.”
“Capitol Tower is a game-changer for downtown office space in Houston, so it is an honor to have such a prestigious, global firm like Bank of America as our lead tenant,” said Matt Damborsky, executive vice president for Skanska USA Commercial Development in Houston. “From its sustainable features to its distinctive retail experience, Capitol Tower blends community, culture and commerce together to create a fresh and compelling experience that looks to the future of the workplace and downtown.”
The tower, designed by architectural firm Gensler, offers 754,000 square feet of office space and an expansive, two-level, open-air atrium that features more than 26,000 square feet of one-of-a-kind retail and restaurant space. This unique lobby area will connect the building’s street level to the active pedestrian tunnel system, creating a dramatic light-filled gathering place that will serve as a destination for tenants as well as all Houstonians downtown.
Capitol Tower is the first Houston development to reach LEED v4 Platinum precertification from the U.S. Green Building Council (USGBC) and was one of only three core and shell projects nationally pre-certified under the standard. The building will use 25 percent less energy than typical facilities. Other sustainable features include:
- a 50,000-gallon rainwater collection system for reuse in landscape irrigation and restrooms;
- secured bicycle storage room with access to lockers and showers;
- within 1 block of three MetroRail stations;
- 90 percent access to daylight and views for tenants;
- a high-performance façade that significantly reduces solar heat gain;
- an energy recovery wheel to precondition fresh air intake; and
- district cooling to provide chilled water throughout the facility – lowering cooling costs and offering unlimited service capacity to tenants.
The project is expected to take approximately two years to build, finishing in the second quarter of 2019.
Skanska has also developed the LEED Platinum West Memorial Place campus in the heart of the Energy Corridor, which offers direct access to the Terry Hershey Park hike and bike trails. Currently under development is Spring Crossing, a 3-phase, Class-A development with 850,000 square feet of office space near the Woodlands, providing an excellent alternative for tenants that want to be in the emerging North Houston submarket.
Skanska has built and restored local landmarks in Houston for decades — from historic renovations, like San Jacinto Memorial Building on the Houston Community College campus, to the new construction of world-class sports facilities, including NRG Stadium, and invaluable healthcare resources like the expansion of LBJ General Hospital’s emergency department. Skanska continues to leverage its local knowledge and global expertise to shape the region's commercial, healthcare, sports and entertainment facilities.