Balfour Beatty to Oversee Energy Center Four Construction; Luxury M-F Complex to Break Ground in Energy Corridor
- Feb 17, 2014
Joint venture partners Trammell Crow Co. and Principal Real Estate Investors have selected Balfour Beatty Construction as general contractor for Energy Center Four, a 22-story, Class AA office tower in the heart of Houston’s booming Energy Corridor.
Located at the southwest corner of Interstate 10 and North Eldridge Parkway, the state-of-the-art property features 598,000 rentable square feet and will include a standalone, 2,300-car parking garage. It also boasts LEED Gold pre-certification for Core and Shell, according to official statements.
Balfour Beatty started working on the project in December 2013, following months of pre-construction and planning with Trammell Crow and Kirksey Architecture. Other team members include Cardno Haynes Whaley, Wylie Consulting Engineers, Walter P Moore and TBG Partners.
The new tower is the second project to break ground at the Energy Center complex and will be fully occupied by ConocoPhillips (NYSE: COP), as reported by the Houston Business Journal. The new lease brings the energy giant’s total footprint at the complex to 1.2 million square feet.
The Energy Corridor is a master-planned business district that integrates a plurality of uses, including office, retail and residential. It is home to more than 300 multinational companies occupying over 22 million square feet of office space, including BP America, CITGO Petroleum Corp. and Foster Wheeler. More than 1.3 million square feet of retail space is anticipated to grow to 2.9 million by 2030, while office space is projected to increase by an additional 10.7 million square feet, according to the development’s website.
Intensified office construction and job growth have generated robust demand for top-tier multifamily housing in the area. The Worthing Cos. recently announced plans to break ground on The Heights at Park Row, a 342-unit luxury multifamily community.
“Our 2013 land use and demographics study projects population growth of more than 8 percent within the 30-minute drive-time area of The Energy Corridor, which now comprises more than 2.3 million people and 790,000 households,” commented Clark Martinson, general manager of The Energy Corridor District, in a statement for the press. “We need residential housing development in The Energy Corridor, and The Worthing Cos. project helps us meet this impending demand.”
To be located on a nine-acre tract in Wolff Cos.’ Central Park, a 78-acre mixed-use development in The Energy Corridor, the upscale apartment project is expected to open near the end of this year.
Rendering of Energy Center Four via Balfour Beatty
Aerial view of The Energy Corridor, future home of The Heights at Park Row, via Wolff Cos.