January 31, 2019
Medistar Corp. is moving forward with plans to develop a 48-story, 1.6-million-square-foot, mixed-use development in the Texas Medical Center. The company has hired Transwestern’s Justin Brasell and Lisa Bovermann to provide leasing services for the medical office portion of Innovation Tower. Construction is slated to begin in the third quarter of 2019.
Medistar is developing Innovation Tower in two phases. The first phase will offer 476,500 square feet of medical and life science office space with 35,000-square foot floor plates above a parking garage for 1,700 vehicles, with retail and a penthouse-level restaurant and lounge. Market demand will drive development of phase two, which could include 410 luxury high-rise residential units or additional medical, biomedical, and life science office space.
Once completed, Innovation Tower will be the “first class AA tower in the Texas Medical Center to offer world-class building amenities to create a distinct live/work/play environment,” Brasell said.
For questions, comments or concerns, please contact Jennifer Duell Popovec