Report: Houston to see highest concentration of medical office project completions this year

opening soon

One of Houston's biggest medical office projects — the $1.3 billion, 400,000-square-foot O’Quinn Medical Tower — is expected to deliver this year. Photo courtesy of Baylor College of Medicine

Medical office and life sciences projects are making a big splash in Houston’s commercial real estate sector in 2023.

The 42Floors commercial real estate website ranks five Houston-area medical office buildings among the country’s 20 largest medical office projects set to open this year. Meanwhile, 42Floors identifies two Houston developments among the 20 biggest U.S. life sciences projects on tap to debut in 2023.

Leading the list of the largest U.S. medical office buildings scheduled to be completed this year is the $1.3 billion, 400,000-square-foot O’Quinn Medical Tower. Set to open April 14 at the McNair Campus of Baylor St. Luke’s Medical Center, the outpatient facility will adjoin the McNair Hospital Tower, which opened in 2019.

The O’Quinn tower will serve as the new clinical home of the Dan L Duncan Comprehensive Cancer Center. The center is a federally designated facility for cancer care and research.

Highlights of the 12-story O’Quinn tower, southeast of the Texas Medical Center, include:

  • Ambulatory surgery center with 12 operating rooms and 10 endoscopy suites
  • 80-bay setup for infusion therapy
  • More than 70 exam rooms
  • More than 850 parking spaces

In all, five medical office properties in the Houston area made the 42Floors list, representing the highest concentration of major projects in any U.S. metro area that are scheduled to open this year. The four medical office properties joining the O’Quinn tower on the list are:

  • Houston Methodist Sugar Land Medical Office Building 4, 159,252 square feet
  • Kelsey-Seybold Springwoods Village Campus, 157,983 square feet
  • Kelsey-Seybold Ambulatory Surgery Center in Clear Lake, 116,000 square feet
  • 1715 Project in Friendswood, 107,000 square feet

A separate 42Floors list ranks Dynamic One, part of Baylor College of Medicine’s TMC Helix Park, as the second largest life sciences project in the U.S. set to come online this year. Houston’s TMC3 Collaborative Building lands at No. 19.

The 12-story Dynamic One project will feature lab space, offices, restaurants, and stores. It represents the first of four buildings planned for the 37-acre, five-million-square-foot TMC Helix Park, which is projected to generate an economic impact of $5.4 billion.

The 42Floors list puts the square footage of Dynamic One’s north tower at 365,000. Organizations involved in the project cite the square footage as 355,000.

The Baylor College of Medicine has signed up as Dynamic One’s anchor tenant. It will occupy 114,000 square feet of lab and office space.

“Baylor College of Medicine is a major force in life sciences discovery and commercialization at TMC. Their move to TMC Helix Park will serve as a catalyst for enhanced collaboration with TMC’s other esteemed Institutions, as well as with industry leaders from around the world,” Bill McKeon, president and CEO of TMC, says in a news release.

Also located at TMC Helix Park, the four-story TMC3 Collaborative Building will span 250,000 square feet. It will contain research facilities for MD Anderson Cancer Center, the Texas A&M University Health Science Center, the University of Texas Health Science Center at Houston, and TMC.

In addition, the TMC3 Collaborative Building will house life sciences companies, the TMC Data Collaborative, the TMC Venture Fund, the Braidwell hedge fund, and venture capital and private equity firms.

From Your Site Articles
Both Houston and the Lone Star State as a whole have been named top places to start a business. Photo via Getty Images

Houston and Texas recognized as top regions for startups, according to new reports

best around

When it comes to corporate giants, the Houston area has plenty to brag about: It’s home to the headquarters of two dozen Fortune 500 companies.

However, Houston can also boast that it’s one of the best U.S. metro areas to launch a business. Houston ranks ninth on a new list from the 42Floors real estate website of the top spots for new entrepreneurs. Austin lands at No. 3 on the list, Dallas appears at No. 8, and San Antonio winds up at No. 19. Las Vegas ranks first.

The website judged metro areas based on factors reflecting business opportunity and affordability.

“Starting out in a business-friendly environment, being able to afford a small office, or even having access to the right consulting services and networking opportunities can all contribute to your new business’s chances for success,” 42Floors says.

Among the factors favoring Houston are:

  • A cost of living on par with the national average, and lower than Austin’s and Dallas’ averages.
  • Average annual labor costs of $45,750 per employee, below the figures for Austin and Dallas.

Referring to Houston, Austin, and Dallas, 42Floors says: “As you might expect, each metro in the Texas trio offered a different context in which different businesses could thrive. For this reason, entrepreneurs will need to weigh the importance of affordability and opportunity for their respective business ideas.”

The presence of Houston, Austin, Dallas, and San Antonio in the top 20 of the 42Floors study underscores the Lone Star State’s standing as a top state for startups.

Job search platform Lensa recently ranked Texas as the best state to launch a startup. To developing its ranking, Lensa examined factors such as volume of new-business applications, corporate tax rates, and cost of living.

Texas earned a 7.09 out of 10 on Lensa’s scale. Helping driving that score was the 492,243 new-business applications filed in the past year in Texas, beating all other states except California and Florida. The application number “demonstrates just how many ambitious entrepreneurs there are in Texas,” Lensa says.

In addition, Texas lands at No. 2 among the top 10 startup states for the lowest corporate tax rate, at 3.95 percent, and at No. 3 among the top 10 startup states for the lowest cost of living.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

Houston female-focused health tech pitch competition names top 3 startup founders

A female-focused pitch competition named its top health tech startups for the fifth year running.

Ignite Healthcare Network, a Houston nonprofit founded on the mission of supporting women in health care, hosted its annual Fire Pitch Competition on November 9 at the Ion, crowning the award recipients and doling out cash prizes.

This year, Ignite accelerated 19 female health tech founders through its program that connects entrepreneurs with mentors and industry professionals. The program concludes with a select number of finalists presenting at the Fire Pitch event.

This year, eight finalists presented at the competition for judges and an audience:

  • Suchismita Acharya, CEO of Fort Worth-based AyuVis, an immunotherapy platform that's developing treatments and prevention for inflammatory and infectious diseases, specifically of the lung, kidney, skin, eye, and sepsis.
  • Piyush Modak, co-founder, vice president of research and development of New Jersey-based EndoMedix, a technology platform developing engineered biosurgery devices that address clinical needs. The first device based on this platform is PlexiClotTM Absorbable Hemostat for brain and spinal surgery.
  • Somer Baburek, co-founder and CEO of San Antonio-based HERAbiotech, which is developing a non-surgical, molecular diagnostic test for endometriosis.
  • Melissa Bowley, founder of Flourish Care, a B2B health services platform and network addressing maternal health disparities and improve outcomes. The Boston company works with health systems and insurance companies..
  • Patty Lee, co-founder and CEO of Orbit Health, a Munich-based company that uses AI and sensor technologies to develop digital health solutions for the management of Parkinson's.
  • Tawny Hammett, chief revenue officer of New York-based Paloma Health, a patient-focused technology providing holistic approach to thyroid care all from the comfort of home.
  • Meghan Doyle, CEO and co-founder of Chicago-based Partum Health, a company focused on combining specialty reproductive care, including mental health, lactation, nutrition, physical therapy, birth doula support, and more.
  • Asma Mirza, CEO and co-founder of Houston-based Steradian Technologies, creator of the RUMI, a medical device that's providing diagnostic accessibility.

Ayse McCracken, founder and board chair of Ignite, and her partners presented several prizes and awards, including naming the winners — EndoMedix won first place, Hera Biotech secured second place, and Steradian Technologies was awarded third place.

In addition to naming the three top companies, the following prizes were doled out:

  • Memorial Hermann presented AyuVis with a certificate indicating interest in a potential partnership.
  • Golden Seeds awarded a $1,000 cash prize and three hours of mentoring to Steradian Technologies.
  • Texas Children's Hospital presented Flourish Care with a certificate indicating interest in a potential partnership.
  • Southwest-Midwest National Pediatric Device Innovation Consortium awarded Hera Biotech with $20,000.
  • Houston Methodist awarded each of the three top companies with mentorship from innovation leadership.
  • JLabs presented EndoMedix with a one-year virtual residency.
  • Donna Peters, founder of The Me Suite and mentor for Ignite, presented Hera Biotech with three coaching sessions.

Last year, Joanna Nathan, CEO of Houston-based Prana Thoracic, won the top award for her company. The company went on to raise a $3 million seed round.

Earlier this year, McCracken sat down with InnovationMap to share how she's grown the program over the past five years — and why she's so passionate about what she does.

"Having an impact in the health care industry and finding solutions is important to me," McCracken says on an episode of the Houston Innovators Podcast. "The second aspect of that is there are so many women in health care, and yet you don't see them in leadership roles."

New immersive, live-action gaming venue powers up Houston debut

hi, tech

Houston is leveling up its gaming scene with the debut of a new high-tech immersive experience. Called Activate, the indoor venue combines technology and physical activity in 75-minute gaming sessions, which can be played in teams up to five people.

Simply put, the whole place is like stepping inside a live-action arcade.

Activate's first Houston-area location opened softly November 2 at 20225 Katy Frwy., Katy. Official grand opening is set for November 16-17. It is the high-tech brand's sixth location across the country, and second in Texas (behind one in Plano, which opened in spring 2023).

According to a release, the Katy facility spans 9,600 square feet, with 11 different activity rooms offering more than 500 unique games across all difficulty levels. Games include Megagrid, Hoops, Press, Hide, Laser, Strike, Portals, Control, Grid, and more. Radio Frequency Identification (RFID) wristbands track participants’ scores and progress.

"Our mission is to fuse technology, movement, and strategy to create a unique interactive gaming experience," says Activate partner Bryce Anderson in the release. "We want guests to bring their closest friends, family, or co-workers and leave with a feeling of achievement, ready to come back for more."

While gaming activities are mostly adult-focused, children aged 13 and younger can participate with adult supervision.

During Activate's soft opening phase through November 15, 10 percent of sales will be donated to Best Buddies International, a nonprofit that provides mentorships for individuals with intellectual and developmental disabilities. (Check the website for limited hours during soft opening.)

After the grand opening November 16-17, Activate will be open daily, 10 am-10 pm. Gaming sessions (75 minutes) are $24.99 Monday-Thursday, and $29.99 Friday-Sunday. Reservations are encouraged.

Activate has been creating live-action gaming experiences for adults since 2019, and has plans for further expansion, they say.

"As we continue expanding Activate across the United States, we are confident our concept will fill a void for interactive entertainment," says Anderson in the release. "We believe the Houston community will embrace this experience and find it both thrilling and challenging."

More information and reservations can be found on the website.

------

This article originally ran on CultureMap.

Houston Innovation Awards winners revealed, top entrepreneur schools, and more trending news

top stories

Editor's note:Another week has come and gone, and it's time to round up the top headlines from the past few days. Trending Houston tech and startup articles on InnovationMap overwhelmingly were stories about the 2023 Houston Innovation Awards, including the announcement of the winners.

Houston Innovation Awards winners revealed at 2023 event

The 2023 Houston Innovation Awards revealed its big winners across 13 categories. Photos courtesy

Who are the top innovators and startups in Houston? We just found out for you.

The Houston Innovation Awards honored over 50 finalists categories, naming the 12 winners at the event. The 2023 Trailblazer Award recipient, Brad Burke, managing director of the Rice Alliance for Technology and Entrepreneurship, was also honored at the event by inaugural winner, Barbara Burger.

The 2023 judges — who represent various industries and verticals in Houston — scored over 200 submissions. The event, hosted November 8 in partnership with Houston Exponential and emceed by Scott Gale, executive director of Halliburton Labs, revealed the winners. Read more.

Houston universities rack up rankings in reports on top schools for entrepreneurship

Rice University and the University of Houston share the accolades of recent entrepreneurship program rankings. Photo via Rice.edu

Rice University and the University of Houston have once again scooped up accolades for their entrepreneurship programs.

For the fifth consecutive year, Rice’s Jones Graduate School of Business has been ranked the No. 1 graduate entrepreneurship program by The Princeton Review, a provider of education services, and Entrepreneur magazine.

“Our close ties to Houston as well as national startup ecosystems give our students unique opportunities to pitch to and connect with angel investors, venture capitalists and corporations,” Brad Burke, managing director of the Rice Alliance, says in a news release. “These connections allow for mentorship, as well as launch points for new ideas, not only for our students but also for the city and surrounding communities.” Read more.

Overheard: Houston Innovation Awards finalists share top advice for fellow founders

Fifteen of Houston Innovation Awards finalists share the best advice they've given or received. Photo via Getty Images

The startup journey is a long and winding road, and there's many ways to navigate it. Fifteen of this year's finalists have shared what their most valuable startup advice for their fellow Houston founders.

From the importance of mentorship to tips for female and BIPOC founders, these pearls of wisdom come directly from a selection of finalists across a handful of categories, including DEI Champion, BIPOC-Owned Business, Female-Owned Business, and Mentor of the Year.

Read these excerpts of advice from Houston's innovation community's top startup founders and supporters. Read more.

Houston space tech company snags $9.5M contract, sets launch date for lunar mission

It's a busy time for Houston-based Intuitive Machines, which recently announced the launch date for its historic lunar mission and a new Air Force contract. Photo via intuitivemachines.com

Business at Houston-based space exploration company Intuitive Machines is taking off on two fronts.

First, Intuitive Machines has landed a nearly $9.5 million Air Force contract to develop technology for NASA’s Gateway project, the first space station that will orbit the moon. Specifically, the technology will support a high-powered nuclear fission system that will supply electricity for satellites, bypassing the need for power from solar, battery, or fuel-cell sources.

“As space exploration ventures become more ambitious and diverse, the need for efficient and reliable power sources in space is paramount,” Pete McGrath, vice president of business development at Intuitive Machines, says in a news release. “Developing the ability to expand power sources beyond solar, which requires heavy battery storage, could remove the burden of constantly worrying about a spacecraft’s arrays relative to the sun, and potentially deliver long-term stability for satellites that would otherwise lose power over time.” Read more.

Top Houston-based sustainability startups share their 4 biggest challenges

The six finalists for the sustainability category for the 2023 Houston Innovation Awards weigh in on their challenges overcome. Photos courtesy

Six Houston-area sustainability startups have been named finalists in the 2023 Houston Innovation Awards, but they didn't achieve this recognition — as well as see success for their businesses — without any obstacles.

The finalists were asked what their biggest challenges have been. From funding to market adoption, the sustainability companies have had to overcome major obstacles to continue to develop their businesses.Read more.

View All Listings