Houston Club Building Faces Uncertain Future After Skanska Purchase
- Sep 21, 2011
Swedish construction giant Skanska has acquired Downtown’s Houston Club Building for an undisclosed amount. The building has been serving as home to The Houston Club, one of the city’s most prominent organizations, for nearly 60 years.
The 18-story building at 811 Rusk St. was built in 1948 by former Houston Chronicle publisher and business and civic leader Jesse H. Jones. In 2007, an affiliate of Cameron Management purchased and renovated the historic building, but the company filed for Chapter 11 in 2010 and the building ended up in foreclosure last fall.
In June, when rumors about the potential purchase by Skanska first emerged, sources familiar with the deal said the company plans on tearing down the 18-story building and replacing it with a new office tower; according to the Houston Chronicle, the company stated that plans for the site have not yet been determined. Either way, it would not be the only project Skanska has in mind for Houston, as the company is also proposing a 300,000-square-foot, 19-story office tower in the Galleria area, at 3009 Post Oak Blvd.
Following the purchase, the Houston Club plans on relocating, having announced on Monday that it has secured funding for a new downtown location. The Houston Club has a below-market lease on 100,000 square feet that runs through 2015, but plans on vacating the building by February 2013.