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"A vacant, 45-story skyscraper located in the heart of downtown Houston is set to soon be transformed into a residential building. One of Houston's tallest buildings, the 1.2 million-square-foot tower located at 800 Bell St. previously served as the headquarters of ExxonMobil and Humble Oil but has been empty for nearly eight years. However, a New York investment group affiliated with CMI Developers and with experience in redevelopment and apartment conversions plans to change that, according to a recent article from Realty News Report's Ralph Bivins.
The renovation of the large-scale commercial building into residential units also signals the potential opening of new retail shops and restaurants in the lower levels of the building along Milam St. and Travis St, bringing new life to the downtown area. The building's nearby parking garage was also part of the deal, the report says.
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California-based Shorenstein Properties bought the historic downtown skyscraper in 2013 and announced plans for extensive renovations, at one point considering a proposal to move the city's court system and Houston Police Department operations into the building, but the plan did not move forward due to cost concerns. Following the COVID-19 pandemic, office vacancies downtown continued to persist and Shorenstein's renovation plans remained on hold. Per Realty News, at the end of 2022, Shorenstein sold the property for an undisclosed amount. As of this writing, it's not clear when the apartment transformation will commence." Bshirley (talk) 17:26, 29 January 2023 (UTC)Reply
