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Rice U. Moves Ahead on Innovation Center in Midtown Houston
The redevelopment of the former Sears department store in Midtown Houston into a center for innovation is set to open by the end of March 2021, possibly 100% leased, the Houston Chronicle reported. It’s envisioned as the centerpiece of a larger Rice-led innovation district that would cover some 15 acres in Midtown and could ultimately include multiple commercial buildings, housing and public spaces.
“If all negotiations we are in right now end positively, we will have a full building,” Ryan LeVasseur told the Chronicle. LeVasseur is managing director of direct real estate with Rice Management Co., which is leading and financing the $100-million project called The Ion.
The Ion project will convert the 81-year-old former Sears store into a 270,000-square-foot office and collaboration center designed to house startups, corporations, venture capitalists, business accelerator programs, academics and others. Prospective tenants have included local and national companies in energy, technology and investments.
Rendering courtesy of SHoP Architects.
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