Developers expect Republic Square to become a central business district for the Energy Corridor.[/caption]
A master plan for the redevelopment of the former ExxonMobil campus along I-10 in the Energy Corridor was announced in early June. The project, known as Republic Square, is a 35-acre strip of land adjacent to Terry Hershey Park.
The mixed-use project, expected to cost more than $1 billion to fully develop, will feature 2.6 million square feet of Class A office space and 100,000 square feet of retail and restaurants. The rest of the space will be used to develop 800 multifamily units and two full-service hotels.
Dan Leverett, executive vice president of lead developer PM Realty Group, said he hopes Republic Square becomes the premier location to conduct business in the Energy Corridor.
Other partners in the project include Elkus Manfredi Architects, Pickard Chilton, Kirksey, Blakefield’s Tom D’Alesandro, Sasaki Associates and TBG Partners.
The entire project will not be complete for seven to 10 years, but phase 1 of the project is expected to begin early next year and be complete late 2017 or early 2018, Leverett said.
Phase 1 will include an open-air central square as well as office space, parking, a hotel and conference center, he said.
“We have designed Republic Square to become the central business district of the Energy Corridor,” he said.
Leverett said the Republic Square will help redefine the identity of the Energy Corridor.
“The Energy Corridor is one of the largest employment centers in Houston, it is highly accessible ... but right now it lacks a sense of place,” Leverett said.
The project will tie into the existing trail system in Terry Hershey Park and there may be a joint parks project with Harris County Precinct 3, Energy Corridor Management District spokesperson Mark Klein said.
“We’re very excited that PMRG and Harris County could be working together on making Terry Hershey Park more special than it already is,” Energy Corridor District General Manager Clark Martinson said.
Leverett said the entire project is designed to be highly walkable, and a series of hike and bike trail connections will run throughout the development.
“The office and residential buildings will be positioned to maximize views of the park,” Leverett said. “Republic Square will become the urban heart of the Energy Corridor.”
The formal marketing and leasing program began in late May, and Leverett said interest has been high.
