Houston/ Real Estate & Development
AI Assisted Icon
Published on September 18, 2024
X Houston Set for Comeback with New Funding, as Woodway Tower Promises Innovative Live-Work Space in UptownSource: Unsplash/ Guillaume TECHER

After a year-long pause in construction, a 33-story skyscraper in Houston's Museum District, known as X Houston, is prepping to move forward. The standstill that left an unfinished tower piercing the city's skyline may soon be remedied, with contractors gearing up to restart work. The project, which faced significant delays, received a financial boost through a $27.9 million loan from Raven Capital Management, as per The Houston Chronicle. This move may help thaw pending construction, as expressed by Brady Johnson, senior vice president with Hoar Construction, who has shared an optimistic view for a November resumption.

While the X Houston Tower seeks to finally progress, over in the Uptown/Galleria neighborhood, plans for a new 33-story mixed-use development have been unveiled. Zieben Group plans to begin construction of Woodway Tower, which will feature boutique office space and residential units. The $100 million project aims to cater to the evolving office space needs of companies. Lee Zieben, CEO of Zieben Group, highlighted the focus on companies that might require smaller spaces in light of remote work trends, according to an interview with Chron. Scheduled to commence in January 2025, the tower design features attractive amenities and co-working spaces, illustrating the shift in office and residential design post-pandemic.

The developments reflect a broader trend of evolution within Houston's construction sector. X Houston will offer co-living arrangements, which tend to include professionally managed shared spaces, attractive for a demographic looking for more flexibility in housing. This model contrasts with the approach taken by Zieben Group's Woodway Tower, which combines upscale living and modern office space, signaling a diversification in development paradigms.

The construction saga of X Houston has run a complex course, involving liens and financial entanglements that impacted not only the contractors but also the Chicago-based developer X Co. Following resolutions, contractors, including Hoar Construction, have been compensated, paving the way for the project to once again pick up speed. On the other side, Zieben Group's forward-looking initiative paints a picture of optimism and innovation, with plans for their headquarters relocation to the new tower upon completion.

Both projects, however distinctive in their offerings, signify a resurgence of development activity within Houston. 

Houston-Real Estate & Development