Austin-based Firmspace opened its Houston location last year. Courtesy of Firmspace

Before the pandemic, Houston coworking demand mirrored that of the rest of the country: shared space was booming, new operators were opening up. Demand was growing in Houston, as it was in other markets.

When the pandemic arrived in Houston last spring, the city was hit with a crisis on two fronts: local public health challenges due to the arrival of COVID-19 were further complicated by a downturn in the price of oil and gas industry — the literal fuel of this city's dominant industry.

But coworking hasn't faded away as office spaces closed or reduced capacity – it's evolved. In fact, the ongoing pandemic has accelerated this changing space and pushed operators to adapt their offerings to meet the market's needs. The result in Houston is the emergence of three major trends that we expect to see persist beyond 2021.

Increased demand for private offices

According to a recent report from JLL, up to 70 percent of all office spaces were primarily or partially open plan in design by the first quarter of 2020. But few of us want to sit in an open plan office with a dozen other masked professionals while fielding Zoom calls, but working from home isn't an option for those who lack the space and privacy they need to effectively work from home.

This combination of pandemic-related stressors has driven more Houstonians to seek out private office space for rent. The basic requirements in the pandemic era look slightly different than what we might have observed a year ago. Professionals want:

  • Private office spaces with doors that close and lock
  • Walls that provide privacy and noise insulation
  • Secure IT infrastructure, chiefly high-speed internet access
  • Enhanced cleaning protocols in common spaces and high-touch areas
  • Closed ventilation loops and as much clean air piped in from the outdoors as possible

And coworking spaces are doing their best to deliver this calm, safe environment where busy professionals can come to do focused work.

More short-term arrangements

The future has never looked more uncertain to professionals and leadership in all sectors. Here at the end of 2020, many companies that have paid nearly nine months of rent on office space that they've been unable to safely use are weighing the benefits of breaking their years-long commercial leases.

Companies are not sure what the structure of their teams will be in three months, nevermind three years, and this is changing how leaders think about their real estate contracts. In this climate, many are turning to coworking spaces that offer six- and 12-month contracts with furnishes and IT infrastructure in place to lighten their financial commitments to physical spaces.

The other trend in short-term leasing that local coworking spaces have embraced is the day office. Given that many of us are planning to work at least part-time from our home offices for the near future, coworking spaces have spotted the opportunity to offer a pay-per-day model to engage professionals that only need a break from the home office one or two days a week.

A private office as a status symbol

The office used to be where we went to get away from home five days a week. For members of traditional coworking spaces in the startup and tech industries, the office often felt like an incubator where spontaneous connections happened.

But in light of the pandemic, private office space has become a refuge where professionals go to feel safe, achieve focused work, and execute sensitive tasks with assurance that they have a level of privacy that can't be achieved at home.

Whether you're looking to speak with clients or prospective employees remotely, private office space and polished meeting rooms have also come to be a status symbol. A video call with chic design elements visible in the background of their office space communicates something powerful – the people in those chairs are invested in the time they spend at work.


Moving into 2021, Houstonians are ready to return to work. Even before the pandemic arrived, commercial real estate was beginning to see that the future of work will be more flexible and more often remote than it was in the past. While we're not through this crisis yet, many professionals are already looking for a new kind of private office arrangement, and local coworking operators are working to deliver the space these Houstonians need.

------

Anish Michael is the CEO of Austin-based Firmspace, which has a 32,000-square-foot space in BBVA Compass Plaza in Houston.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

23 Houston companies rank among America’s most future-ready businesses

future focused

By one measure, Spring-based tech giant Hewlett Packard Enterprises reigns as the most future-ready Houston-area company on the S&P 500 stock index.

HPE sits at No. 72 in a first-time ranking of the best S&P 500 companies for the future. Including HPE, 23 Houston-area companies appear on the list.

Published by The Wall Street Journal, the ranking was created by Bendable Labs for the WSJ Leadership Institute. It evaluates how S&P 500 companies stack up in six areas: AI readiness, innovation, talent readiness, financial fitness, resilience and agility. To be ranked, a company had to be part of the S&P 500 as of Dec. 31.

Among the six categories, HPE ranked highest for innovation (No. 30) among local companies. The WSJ didn’t say why HPE scored so well for innovation. However, the company stands out in this category thanks to:

  • Creation of the El Capitan and Frontier supercomputing systems
  • Research into photonic computing and quantum networking
  • Last year’s $14 billion acquisition of Juniper Networks, giving HPE an edge in AI-native networking
  • Establishment of the everything-as-a-service GreenLake hybrid cloud platform for data centers, colocation facilities and edge computing environments

In an interview with the Six Five podcast at HPE Discover 2025 in Las Vegas, CEO Antonio Neri said the company’s strategy is “basically founded on innovation, and that innovation drives shareholder value over the long term.”

While HPE fared well in the innovation category, it ranked toward the bottom for financial fitness. What’s behind the No. 430 ranking in the financial category? HPE’s low score likely reflects a debt-heavy acquisition strategy coupled with a historically low-margin hardware business.

Here’s the full list of the 23 Houston-area companies included in the ranking of the best companies for the future:

  • No. 72 Hewlett Packard Enterprise
  • No. 105 SLB
  • No. 120 Baker Hughes
  • No. 125 ConocoPhillips
  • No. 158 NRG Energy
  • No. 176 Targa Resources
  • No. 185 Chevron
  • No. 195 Halliburton
  • No. 223 Coterra Energy
  • No. 229 Waste Management
  • No. 235 Exxon Mobil
  • No. 250 Kinder Morgan
  • No. 257 Quanta Services
  • No. 276 CenterPoint Energy
  • No. 285 Sysco
  • No. 313 Occidental Petroleum
  • No. 318 Camden Property Trust
  • No. 333 EOG Resources
  • No. 365 LyondellBasell Industries
  • No. 373 Comfort Systems USA
  • No. 401 Crown Castle
  • No. 408 Phillips 66
  • No. 500 APA

Uber, Nuro and Lucid plan to roll out robotaxi services in Houston

autonomous autos

More autonomous vehicles are expected to hit the roads in Houston next year.

Ridesharing giant Uber announced that it plans to roll out its premium robotaxi service in the Bayou City in mid-2027. Houston will be Uber’s second planned market for the program, following the San Francisco Bay Area, where the program is expected to be rolled out later this year.

Uber, Nuro and Lucid Group will bring the robotaxi program to Houston with more markets planned for the future. Currently, Nuro is conducting autonomous on-road testing with safety operators in Houston. Testing includes simulation, closed-course testing and supervised public-road testing.

“Houston is a city Nuro knows well, and we’re excited to help bring this robotaxi service to the city through our partnership with Uber and Lucid,” Andrew Chapin, chief operating officer at Nuro, said in a news release. “Houston’s large, complex metro area is an ideal market for demonstrating how Nuro’s universal autonomy platform can generalize across different geographies and operating environments. We look forward to continued engagement with the community as we prepare to launch service in 2027.”

The fleet of 100 vehicles across California and Texas will feature Lucid Gravity EVs and future Lucid Midsize vehicles equipped with Nuro Driver technology, Nuro’s Level 4 universal autonomy platform, plus a redundant sensor suite with cameras, lidar, radar and a roof-mounted halo.

The vehicles will be owned and operated by Uber and its fleet partners and made available to riders through the Uber network, according to the company.

In addition to the fleet of autonomous vehicles, Uber also announced that it has secured a 50,000-square-foot depot facility and dedicated charging pitstop in Houston. The facility will allow Uber and its partners to control vehicle maintenance, repairs, charging, cleaning, and day-to-day operations.

“Houston marks an important next step in our partnership with Lucid and Nuro as we expand autonomous mobility to more riders throughout the world,” Sarfraz Maredia, global head of autonomous mobility & delivery at Uber, added in the release. “Together, we’re combining best-in-class vehicle and autonomy technology with Uber’s scale, fleet operations expertise, and infrastructure capabilities to build a service that can grow across dozens of markets in the years ahead.”

Waymo launched its autonomous vehicle program in Houston in February.

The company later suspended its driverless car services in Houston, other major Texas cities, and Atlanta, after one of its vehicles was stranded by flooding during heavy rains. However, according to the Houston Chronicle, the fleet has resumed activity in Houston and is fully active.

Houston fintech company closes $7M funding round

fintech funding

Houston-based fintech company Receipts Depositary Corporation has closed a $7 million oversubscribed funding round and plans to scale.

The round was led by Austin-based LiveOak Ventures, with participation from Hivemind Capital, Onigiri Capital, OTC Markets Group, GTS, and Redbeard Ventures, according to a release from RDC.

RDC's platform issues depositary receipts (DRs) to qualified investors on digital and alternative assets, making it easier for investors to buy and trade hard-to-access and less traditional assets. Currently, the company offers DRs for cryptocurrencies including Bitcoin, Ethereum, Solana and XRP.

RDC says the new funding will allow it to launch new DR products across a wider range of asset categories, potentially including commodities. Additionally, it plans to grow its relationships with "banks, broker-dealers, market makers, custodians and exchange partners" and add to its product, operations, technology, and commercial functions teams. The company is actively hiring, according to a press release.

“Depositary Receipts are trusted, regulated capital markets products which RDC is bringing to an entirely new universe of assets, from commodities to digital assets, that have historically been out of reach of traditional securities markets," Krishna Srinivasan, founding partner at LiveOak Ventures, said the release. “The team's depth of experience in the DR business on a global scale, combined with the broad institutional validation from co-investors, anchor customers, and strategic partners across asset classes, makes RDC uniquely positioned to define this category. We're proud to lead this round and support the company as it scales.”

RDC was founded in 2022 by three Citibank alumni: CEO Ankit Mehta, CEO Bryant Kim and COO Ishaan Narain. It began offering its first DRs for Bitcoin in 2024.

“This funding round is a strong validation of what we’re building at RDC and the growing demand for modernized Depositary Receipt infrastructure,” Mehta added in the release. “With the support of LiveOak Ventures and our investor partners, we are accelerating development across our DR platform expanding our market reach, and building the team needed to support the next generation of DR product