Landmark project to help catalyze downtown Houston economic growth

HOUSTON (August 13, 2024) – Houston First Corporation today announced that Hines, the global real estate manager, was recently selected as the development manager for the transformation of the George R. Brown Convention Center (GRB) and the surrounding district. This decision was made unanimously by the Houston First Corporation board following a comprehensive Request for Qualifications (RFQ) process. 

The transformational project aims to modernize and expand the 37-year-old convention center, adding new visitor amenities and entertainment options to create a vibrant, interconnected convention and entertainment district that will attract more and larger conferences and meetings and generate significant economic impact for the city.

"This is a generational opportunity for Houston to transform the eastern edge of its downtown and ensure that we remain a Tier 1 convention city for years to come," said Michael Heckman, president and CEO of Houston First Corporation. “Hines presented a team in their pitch with extensive global development experience; that team along with Hines’ legacy investment in downtown Houston made them the ideal partner for creating this multi-asset, multi-experience district. The track record Hines illustrated in our vetting and interview process of managing complex real estate projects gives us confidence in their ability to deliver on the vision for transforming the GRB and the convention district into a dynamic, vibrant destination for both residents and visitors.”

As development manager, Hines will oversee all aspects of the project, including timeline, budget, development of construction documents and execution with all contractors to ensure the improvements are completed on time, on budget, and with the highest quality and safety standards.

"We are honored to partner with Houston First on the convention district transformation project," said John Mooz, senior managing director at Hines. "As a significant stakeholder in Houston's Central Business District for over 50 years, we understand the vital importance of this ambitious and truly impactful project. Our team is committed to helping Houston First create a convention campus and entertainment district that showcases the best of Houston and catalyzes economic growth for the entire city. We look forward to working closely with all stakeholders to bring this visionary plan to fruition."

Funding for the project will come through the state’s portion of incremental Hotel Occupancy Tax (HOT) revenue, ensuring no additional burden on taxpayers. The legislation supporting this funding, Senate Bill 1057, was signed into law last year, providing Houston with the same state funding mechanism that benefits cities like Dallas and Fort Worth. Then-Senator and now Mayor John Whitmire authored the legislation.

Hines, headquartered in Houston, brings over half a century of successful development experience to the project, having delivered top-class assets to over 380 cities worldwide. Regarding its Houston developments, over the past three decades, Hines has completed as many third-party development engagements as their principal work. Their portfolio includes corporate headquarters, multifamily, mixed-use and logistics assets, office campuses, as well as notable Houston projects such as Texas Tower, the Hilton Americas for what was then the Houston Hotel Corporation, and the Toyota Center representing the Houston Rockets.

The George R. Brown Convention Center transformation project will be executed in phases to ensure the facility remains operational throughout the process. The first phase will focus on developing new meeting space south of the existing convention center. The project also includes plans for improved pedestrian and vehicular infrastructure and will lay the groundwork for new development and entertainment venues, all designed to enhance the overall appeal of the convention district. The development is being planned in coordination with the Texas Department of Transportation's I-45 re-routing and US 59/I-69 lowering projects to ensure seamless integration and connectivity.

Construction on Phase I is expected to commence in 2025. Houston First and Hines are committed to ensuring that the project meets the needs of the community and enhances Houston's appeal as a top convention and tourism destination.

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ABOUT HOUSTON FIRST CORPORATION

Houston First Corporation (HFC) is the official destination marketing organization for the country's fourth largest city. In addition to serving as operator for the George R. Brown Convention Center and some of Houston's most prominent art, entertainment, and event venues, HFC is focused on promoting the city's vibrancy and rich tapestry of culture. By harnessing the city's collective energy, ambition, and creativity, including its diverse culinary scene, world-renowned performing arts, medical and space innovation, and elite filming locations, HFC is solidifying Houston as a premier national and global destination. For the latest news and info regarding HFC, visit www.houstonfirst.com.

ABOUT HINES

Hines is a leading global real estate investment manager. We own and operate $93.2 billion1 of assets across property types and on behalf of a diverse group of institutional and private wealth clients. Every day, our 5,000 employees in 30 countries draw on our 65-year history to build the world forward by investing in, developing, and managing some of the world’s best real estate. To learn more, visit www.hines.com and follow @Hines on social media.

¹Includes both the global Hines organization and RIA AUM as of December 31, 2023.

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