Houston Endowment announced today it has closed on the purchase of a 1.5-acre site for a new office facility. The site is located at 3615 – 3683 Willia Street, near the intersection of Memorial and Waugh, and overlooks Spotts Park. The foundation has plans to build an office on the acquired land to enhance its ability to partner with organizations in pursuit of its vision of a vibrant region where all have the opportunity to thrive, and to improve its business operations.
“It is an exciting time for our organization. The opportunity to invest in a permanent home for Houston Endowment and, in turn, in the city of Houston, is one we have been planning for quite some time,” said Ann Stern, president and CEO of Houston Endowment. “Our goal is to better serve our partners by developing an office space that is more accessible, collaborative, and better suits the way we work today, and to do so in a way that complements the surrounding neighborhood and community.”
Situated adjacent to the new Buffalo Heights District as well as Buffalo Bayou Park, and in close proximity to downtown, the site occupies a central location. The purchase affords Houston Endowment, as a perpetual institution, the opportunity to invest in a more permanent home and contribute to the growth of the neighborhood.
Houston Endowment plans to develop a 35,000- to 40,000-square-foot, single-use office space, with an emphasis on facilitating collaboration. The space will include more convening areas where those who are partnering with the Endowment to improve quality of life for Houston-area residents can gather together. In investing and building out a more permanent home, the foundation continues in the tradition of its founder Jesse H. Jones, builder of Houston, philanthropist, and dedicated developer of institutions and organizations that nurture Houston’s people and encourage the city’s growth.
Houston Endowment enlisted the help of Gensler in assessing various locations. Tom Forney of Forney Construction has served as the organization’s project manager and David Robins of Jackson Walker has provided legal counsel on the project to date.
Houston Endowment was represented by Cushman & Wakefield in the acquisition. Additional terms of the purchase agreement are not being disclosed.