More downtown construction activity coming soon.
Hines, the Houston-based firm that develops real estate across the globe, is planning its newest building in the heart of its hometown.
The new project, to be called MainPlace, will be a 46-story, 1 million-square-foot office building at 811 Main St. between Walker and Rusk, the company said Tuesday.
The modern glass tower will replace a series of worn-out structures, including the Montagu Hotel, situated on "one of the most blighted blocks in downtown," the company said.
"We believe there will be a tremendous outpouring of improvement on adjacent blocks," said Mark Cover, an executive vice president with Hines.
As the company begins to prepare its site this week for construction, at least three other developers are moving forward with plans for their own top-class office towers.
While none of the firms has secured a main tenant for any of the buildings -- once considered a prerequisite to breaking ground -- each has expressed confidence in its abilities to do so.
"There's certainly enough demand to fill more than one building," said Matt Khourie, president of the U.S. central region for Trammell Crow Co., which said it will break ground early next year on a 30-story tower near Discovery Green, downtown's new park. "Whether there's enough to fill all four buildings, the market's going to have to dictate that."