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10/25/2005



Rail News: Rail Industry Trends

Houston METRO to develop mixed-use project above medical center


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The Metropolitan Transit Authority of Harris County, Texas (METRO) and commercial real estate firm Transwestern Development Co. recently announced plans to build a $105 million mixed-use development atop the Texas Medical Center Transit Center.

The development will include a 175-suite hotel, 30 condominiums, 35,000 square feet of retail space, a medical office building, and wellness center and spa. Scheduled to begin construction in mid- to late 2006, the project is expected to take three years to complete.

METRO officials estimate the agency will receive about $1 million annually for leasing rights once the project is complete.


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