Chevron Phillips Chemical registered a $60 million renovation project Aug. 1 for a relocation of its headquarters according to the Texas Department of Licensing and Regulation.

The company said in an Aug. 4 email it has purchased a six-story building on 9500 Lakeside Blvd., The Woodlands, which is 360,000 square feet in size. According to an Aug. 4 news release from Chevron Phillips Chemical, the company will move to the building, also known as the Research Forest Lakeside 3 Building, by early 2025.

“The company is growing and excited to move into a space that will accommodate our expanding workforce,” according to the news release.

The property was sold by development company JD Warmack Woodlands LP, with the current assessed value of the property being $34 million, according to the Montgomery Central Appraisal District.

The current headquarters is located on 10001 Six Pines Drive, The Woodlands, and the company has owned the property since 2001, according to MCAD. The current assessed value of that property is $30 million, according to MCAD.

Kirksey Architecture will be constructing the project, which entails an interior build-out encompassing five floors and a single partial floor within an existing structure, according to TDLR.

The project will also include the creation of a parking garage, which will be the starting point of the project, and construction will begin this month, according to the news release.