Eavesdropping in downtown Houston
Overheard: Panel of experts sums up the Houston innovation ecosystem's real estate needs
As the city and multiple entities strive to develop an innovation hub and ecosystem, real estate plays a huge role. Developing the physical space is one of the first steps to attracting companies, talent, and money to the Bayou City.
At Bisnow's annual Houston State of the Market event, five panelists heavily involved in the process of developing Houston's innovation ecosystem weighed in on the real estate needs of innovation development in Houston. Check out these powerful quotes said during the panel.
“What we build in Houston has to be uniquely Houston. ... At the end of the day, for this innovation district and Houston’s innovation ecosystem to be successful, it has to build off of the economic strength that Houston already has."
— Ceci Arreola, investment manager of real estate at the Rice Management Company. Arreola describes a collaborative effort to make Houston somewhere attractive for tech and startup talent.
“Think of it as a neighborhood of knowledge. That’s what we’re trying to create, and that’s connecting intellectual assets, institutional assets, place assets — meaning the physical space in which people connect and relate.”
— Jonathan Brinsden, CEO of Midway Cos., describes the innovation district, which will stretch from midtown to downtown.
"The flexibility in hospitality — that sort of different version of work and play — is critically important to the entrepreneurs. They need the ability to be transient. … They want the furnished apartment, but they don’t want to live in a hotel. They want a bike lane, because they aren’t going to have a car."
— Gabriella Rowe, CEO of Station Houston, says stressing the importance of a innovation center having restaurants and retail surrounding coworking spaces. "They want to continue the conversation they're having but with a beer in their hand."
“These companies take a lot from our designs and our way of nurturing them, but they want to give back and stay within the innovation campus. I think we need to be mindful of that. There’s a lot of cross pollination that happens when companies at different levels of each stage stay together.”
— Juliana Garaizar, director of the TMC Venture Fund, stresses the importance of designing real estate that can keep companies and startups of different sizes and stages together.
“When I lived in New York City, grocery shopping was the single biggest headache I had to deal with every week. One of the things I love about Houston is that this is no longer a problem for me.”
— Chris Turney, head of real estate for Sonder, says about ensuring development of city spaces keeps in mind day-to-day conveniences that make Houston more comfortable than other major cities.
The Baylor campus is next to Texas Medical Center’s Helix Park, a 37-acre project. Rendering courtesy of BCM
The Cullen Foundation donated $30 million to the project. Rendering courtesy of BCM