Downtown Quarterly Market Report Q4 2023

01.25.24

Q4 2023 Q U A R T E R LY R E P O R T

DOW NTOW N

S H I FT

CONTENTS

Letter from Our CEO & Executive Summary

4

2023 Highlights

5

Development Pipeline Map

6

Top Stories of Q4

8

Only In Downtown

16

The Downtown Pulse

10

Doing Business Downtown

22

Living Downtown

26

Looking Ahead

30

Appendix

32

QUARTERLY MARKET REPORT

Q4 2023

TABLE OF CONTENTS

3

LETTER FROM OUR CEO 8.3 million visitors enjoyed Downtown in 2023.

These visitors made 38.6 million trips to Downtown, and none of those trips were work-related.

Moreover, the supply of hotel rooms expanded by 118 rooms with the delivery of the Moxy hotel, and year-over-year hotel room occupancy increased by nearly 10%.

As 2023 ended, there was a real sense of anticipation and optimism for the coming year.

The U.S. economy stabilized across 2023 while concerns about inflation slowed. Thankfully, we avoided the bear market that some predicted at the beginning of the year. To wit, Downtown’s nine Fortune 500-headquartered companies climbed an average of 24.3 spots from 2022 to 2023.

Aside from economic indicators, the Downtown community received much-needed certainty about the leadership changes occurring across the region, most notably within the office of the Mayor, the City Council, and the Greater Houston Partnership.

Closer to home, in Q4 Downtown Houston saw continued growth in return-to-office trends, residents moving into new housing units, plus visitors swarming baseball games, concerts, theater performances, and holiday events. Parks and bars & restaurants, new and long beloved, welcomed guests daily. Visitors filled our hotel rooms and convention centers. All the while, office vacancy stabilized and plans for adaptive reuse and entertainment-forward destinations were revealed.

Building upon its foundation as the premiere regional submarket for work, Downtown continues to grow as a destination for fun, food, recreation, and entertainment and as a place to call home.

As a long-standing community priority, the growth of the Downtown neighborhood showed encouraging signs over 2023. By adding 656 new residential units, Downtown’s residential inventory grew by an impressive 9% over the course of the year. This growth is critical to building the vibrant urban community replete with active storefronts that so many desire in Downtown.

As our second edition of these relaunched reports, this report includes an overview of the pipeline and performance of long-term investments that fuel and transform our city. It includes details of the three developments that delivered in Q4. Those new projects range from a glitzy new 375,000 SF office tower to a hip office-residential conversion.

As a complement to these reports, our team also produces a corresponding webinar that offers Q&A. You can stream those sessions from our website, www.downtownhouston.org, and feel free to contact our team to participate in our next live event.

We hope you find this edition a valuable and trusted resource.

2023 HIGHLIGHTS

38.6 8.3

VISITS

M

M

UNIQUE VISITORS

Downtown activity rebounded in 2023. When compared with 2019 data, 67% of worker volume and 85% of visitor volume returned Downtown. Combined with the continued growth of the residential population, daily activity downtown has shifted from office destination

9 of the 22 Houston-based

to mixed-use neighborhood.

Fortune 500 Companies are in Downtown. On average, these nine Downtown companies moved up 24.3 spots from 2022 to 2023.

9

%

INCREASE (656 UNITS) IN RESIDENTIAL INVENTORY

375

K

SQUARE FEET NEW CLASS A OFFICE SPACE

Sincerely,

Kristopher Larson, AICP, LPM President & CEO

QUARTERLY MARKET REPORT

Q4 2023

4

DEVELOPMENT PROJECTS DELIVERED (3 IN Q4 2023)

118

+

HOTEL ROOMS

EXECUTIVE SUMMARY & 2023 HIGHLIGHTS

5

LORRAINE ST

T ON

GA

NS

T

UD

EM

HO

800 Bell St

Proposed

-

1,200,000

400

45

Home2 Suites and Tru

by Hilton Houston Downtown

PA Hospitality

1540 Leeland St

Under Construction

Late 2025

123,000

221

9

Holiday Inn Express and Staybridge Suites Houston TX

Neway Hospitality

1319 Texas St

Under Construction

Late 2025

-

275

17

Ascend Collection Houston

Choice Hotels

402 Main St

Proposed

2025

BUFFALO BAYOU PARK

50,250

67

10

AL

6 WY LEN PK

ALLEN PKWY

DA CL

FOURTH WARD

HEINER ST

Y DR

MC

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KI

NN

AS

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TE

ST

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ST

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XA

SA

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ST

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SS

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ST

IS

ME

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10

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W GRAY ST

AY

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TR

ST

AV

MEMORIAL DR

L RIA

NANCE ST

2

TH

EB

ST

CE

ER

FF

ER

SO

N

ST

LL

4

ST

ST

EAST DOWNTOWN

ST

LE

UI

DUNLAVY ST

MC

LO

MIDTOWN

NEARTOWN/MONTROSE

EN

ST

E

ES

N

AR

IO

CH

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AN

D

ST

ST

GU

LF

NC

IP

AT

DEVELOPMENT PIPELINE MAP

MA

ST ON LT MI

AV

TR

ST RD FO AW

IN

ST

CR

UNIVERSITY OF ST THOMAS Q4 2023

MA

W ALABAMA ST

DR

W

PI

EL

ST

THE WAREHOUSE DISTRICT DEVELOPMENT PRE-LEASED UNITS IN DECEMBER 2023 WITH FIRST MOVE-INS SCHEDULED FOR FEBRUARY 2024.

QUARTERLY MARKET REPORT

GO

HA

WESTHEIMER RD

SIA

NA

ST

ST

W

ER

BE

T

N

Carnegie Management Inc

10

SE

5

EN

489

SJ

Early 2024 -

SHEPHERD DR

Under Construction

BU

MCKEE ST

N AVE

PROVIDENCE ST

O ST

6

CINT

229

N JA

193,000

45

N SA

Under WASHING Construction TO

SAWYER ST

# OF STORIES

HOUSTON AVE

ST # OF UNITS

813 & 850 McKee St

KIRB

LN

ELYSIAN ST

ST

DURHAM DR

101 Crawford St

EST. DELIVERY

WAUGH DR

6

800 Bell

I-10

HOV

T

5

Urban Genesis

NS

4

Sovereign Properties

LTO

3

DEVELOPER

Warehouse District Phase I and II

RENTABLE BUILDING AREA

WASHINGTON AVENUE/MEMORIAL PARK ADDRESS BUILDING STATUS

Sovereign at the Ballpark

FU

2

Hospitality

NAME

T

ST

1

Residential

NS

AIN

KEY

MA

NM

DEVELOPMENT PIPELINE MAP KATY FWY

IT QU

USENER ST

HARDY ST

WHITE OAK DR

FW

Y

7

TOP STORIES OF Q4

AX INCREMENT FOR NEW T SERVICE CORPORATION INTERNATIONAL HQ NOVEMBER ELECTION OUTCOME December 9th ushered in new City leadership which impacts Downtown: A new Mayor and Controller, first-time Council Members for Districts H and I, plus three new at-large members joined District C’s returning Council Member around the City Hall “horseshoe.”

Downtown Houston+ looks forward to continued collaboration with the elected officials entrusted by the people to implement an uplifting vision of Downtown and our region.

Everyone should be smiling this morning. The people of Houston are smiling because they’ve elected a mayor that’s going to listen to them, a mayor that is known for solving problems. And that’s why it’s exciting to be here today.”

Mayor John Whitmire Source: Houston Public Media, Jan. 2, 2024

ARBARA JORDAN B MEMORIAL PLAZA OPENING Downtown Houston+ co-hosted the Barbara Jordan Plaza and Monument unveiling at POST Houston on December 2nd. The memorial to Houston’s late U.S. Congresswoman, civil rights icon, and Fifth Ward native also marks an exclamation point on Downtown’s walking trail honoring legendary leaders. Artist Angelbert Metoyer labored for three years on “I am Barbara Jordan,” commissioned by POST owner Lovett Commercial. A joyous culmination of the former U.S. Post Office’s revival, partly funded by a $23 million grant from the Downtown Redevelopment Authority, the monument educates, inspires, and welcomes all.

It does not matter where you came from, or who your parents were. What counts is who you are.”

Barbara Jordan Source: Urban Edge, Rice University Kinder Institute for Urban Research, Dec. 7

QUARTERLY MARKET REPORT

Q4 2023

One of Houston’s largest publicly held companies, Service Corporation International (SCI) committed to maintain its corporate headquarters Downtown. The Downtown Redevelopment Authority board, a Downtown Houston+ affiliate and steward of Houston’s Tax Increment Reinvestment Zone No. 3, voted on December 12th to authorize a tax increment reimbursement of $13.79 million for public infrastructure improvements and storm resilience coinciding with the $150 million SCI construction project. This public + private collaboration delivers key public benefits— retaining 900 jobs, enhancing public storm water management, pedestrian amenities, and environmental resiliency—without the DRA incurring upfront costs or new debt.

By redeveloping this site and investing in a new headquarters tower in this location, the Downtown Redevelopment Authority’s capacity to make other investments that align with our mission and the community’s priorities will be expanded.”

DRA/TIRZ #3 Chair, Curtis Flowers Source: Realty News Report, Dec. 28, 2023

TATE OF DOWNTOWN S BREAKS ASTROS NEWS The November 2nd State of Downtown welcomed almost 800 attendees and earned front-page media coverage with the Houston Astros organization advancing its next steps toward a major mixed use, sports and entertainment development. The multi-milliondollar entertainment district will be located immediately southwest of Minute Maid Park on a 2-acre space bordered by Texas Avenue, Hamilton Street, Capitol Street and Avenida De Las Americas. The event also launched the new Downtown Houston+ brand, giving an umbrella identity to the family of aligned organizations who advocate for, plan, build, manage, and promote Downtown Houston.

Our goal is it’s an attractive area year-round, not just on game days, and it’ll be a really great, happening venue.”

Giles Kibbe, Houston Astros SVP Source: Houston Public Media, November 3, 2023

TOP STORIES OF Q4

9

THE DOWNTOWN PULSE Upshot

The pulse of Downtown’s sidewalks, parks, trails, and destinations continued its upswing in Q4 2023. Compared with Q4 2019 visits to Downtown, 81% of visit activity returned in Q4 2023.

Greenspaces and sidewalks, illuminated for the holidays, invited visitors and Downtown residents to stroll every day of the week. Cooler weather also encouraged residents from Downtown and nearby neighborhoods, as well as visitors from across Houston, to explore White Oak and Buffalo Bayou trails and their confluence at Downtown’s Allen’s Landing Park.

9.2 3.5 141

VISITS IN Q4 2023

M

UNIQUE VISITORS IN Q4 2023

M

MINS

MEDIAN VISITOR’S LENGTH OF STAY DOWNTOWN

Average Daily Population 5.5%

5.9%

Weekday

Weekend

9.0%

Residents

38.3% 56.2%

Non-Resident Workers Visitors

Residents

85.1%

Non-Resident Workers Visitors

Source: Placer.ai

QUARTERLY MARKET REPORT

Q4 2023

THE DOWNTOWN PULSE

11

DOWNTOWN STOREFRONTS Q4 welcomed 10 new storefront openings, including five within the More Space: Main Street 2.0 promenade project area. Street-level spaces saw a higher rate (+10%) of occupancy than tunnel storefronts (82% and 72%, respectively). The overall (street-level + tunnel) storefront occupancy was 79% for the quarter. Food & beverage businesses represented 68% of overall storefronts—65% of street-level businesses vs 68% of tunnel operators.

CLEAN & GREEN Downtown’s Cuisines 8.8% 5.6%

Casual American Bakery / Deli

21.4%

8.4%

Asian Mexican

14.4% 18.6% 16.7%

Italian Seafood / Steakhouse Other

Source: Downtown Houston+

Downtown saw a great deal of activity in parks in Q4. Downtown Houston+ wrapped the Market Square Park Fall Farmer’s Market and shifted to holiday-themed events, including Santa Paws which brought four-footed festivity to Trebly Park.

Seasonal activations also brightened Discovery Green, the Heritage Society at Sam Houston Park, the Theater District, Avenida, and Hermann Square at City Hall. A newly planted, 35-ton oak tree nestled into its new home by Lauren’s Fountain in Market Square Park. Renovations in Market Square Park will bring pup-friendly turf to the dog park and an enhanced outdoor dining area surface in early 2024.

10 New Openings

536

Moxy Bar

412 Main St Dorado Sushi

411 Smith St (Lyric Market)

411 Smith St (Lyric Market)

X

ON AVERAGE, THE SIDEWALKS OF EVERY DOWNTOWN BLOCK ARE SERVICED 3 TIMES PER WEEK.

20

+

+

PARKS & GREEN SPACES

STOREFRONTS IN DOWNTOWN’S TUNNELS AND AT STREET LEVEL, INCLUDING OFFICE TOWERS AND FOOD HALLS

Francis’ Café

3

Jolie Houston

506 Main St O ff the Record

416 Main St S amurai Noodle

411 Smith St (Lyric Market) Slowdrip TX Coffee

1625 Main St, Suite A-1 (SoDo on Main) S tarbucks

411 Smith St (Lyric Market)

OFF THE RECORD LISTENING BAR

Tom’s Watch Bar

1201 Caroline St, Suite 161 Victory

711 Main St, Suite 100 SLOWDRIP TX COFFEE SHOP TREBLY PARK

QUARTERLY MARKET REPORT

Q4 2023

THE DOWNTOWN PULSE

13

GETTING AROUND

60

October through December is a favorite time of year to hit the trails as cooler weather favors active modes of transportation. A monthly average of 20,000 walkers, joggers, and cyclists accessed the Bayou trails near Allen’s Landing during Q4, which totaled 60,000 trail users throughout the quarter.

METRO Lightrail ridership remains steady, a system whose highest concentration of stops can be found Downtown.

UNCOVERING DOWNTOWN: NO ORDINARY FÊTE

K+

WALKERS, JOGGERS, AND CYCLISTS ENJOYED BAYOU TRAILS NEAR DOWNTOWN IN Q4, WHICH IS MORE THAN THE POPULATION OF GALVESTON

Monthly METRORail Ridership

Look to Allen’s Landing for a sweeping backdrop from the 1910 Sunset Coffee Building or toast the historic waterfront from The Willow Street Pump Station, built in 1902 where White Oak and Buffalo Bayous converge. Built in 1912, The Crystal Ballroom at The Rice sparkles like a coupe of bubbly. Other venerated venues include the lavish Corinthian in a distinguished 1909 structure, and the 1926 Majestic Metro Theater, crafted by famed Houston architect William Ward Watkin.

100

+

SPECIAL EVENT SPACES DOWNTOWN

Hotel settings range from boutique and chic to big and beautiful. Consider a gilded 1920s bank building reborn as Hotel Icon or convention hotels boasting 1,000+ rooms such as the Hilton Americas and Marriott Marquis, with its eye-popping, rooftop, Texas-shaped lazy river. There’s even the C. Baldwin’s cheeky speakeasy, The Parlor Hideaway, with its female-forward design.

1,600,000 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 NOV 22

DEC 22

JAN 23

FEB 23

MAR 23

APR 23

MAY 23

JUN 23

JUL 23

AUG 23

SEP 23

Source: METRO Ridership Reports

OCT 23

NOV 23

Downtown’s glittering skyline graces gatherings in private high-rise club spaces available for nonmember booking, such as The Petroleum Club and The Houston Club. High atop the Hyatt Regency, the rotating Spindletop now serves 360-degree views exclusively for special functions.

Planners seeking the unique know the sports fantasia Tom’s Watch Bar with 100+ jumbo screens (not to be confused with the Houston Watch Co., a gem established in 1912, also available for private buy-outs); Joystix with 200+ new and classic arcade games from pinball to Pac Man; Immersive Gamebox, where competitors become life-size game pieces; and Puttshack for grown-up mini golf plus spirits to stoke spirited competition.

A microcosm of the city, Downtown’s dizzyingly diverse hub of experiences—spunky to sophisticated, relaxing to revved up—ensures each revelry can be distinctive and memorable.

Discover more event spaces at www.downtownhouston.org/experience

QUARTERLY MARKET REPORT

Q4 2023

THE DOWNTOWN PULSE

15

ONLY IN DOWNTOWN Upshot

City Lights: Downtown Holiday Magic joined Downtown’s stadiums, convention center, and performance venues in Q4 as a destination with an outsized impact. The City Lights series welcomed visitors from near and far at dozens of events and spectacles around Downtown. Both stadiums were active throughout the quarter thanks to the conclusion of the Astro’s season, the start of the Rocket’s season, and a number of concerts at each stadium. Downtown’s hotel occupancy has continued to improve throughout the year, up 9.6% from a year earlier with occupancy at 58.2%.

45

11

CITY LIGHTS HOLIDAY VILLAGES

%

OF INNER LOOP HOTELS ARE IN DOWNTOWN

Q4 Hotel Insights Q4 2023 RevPAR

$105.03

+8.7%

Occupancy

58.2%

+9.6%

Rooms

Q4 2023

Existing Inventory

8,648

Under Construction

496

Source: CoStar, Houston First

QUARTERLY MARKET REPORT

Q4 2023

QoQ

MOXY HOTEL OPENED IN Q4

ONLY IN DOWNTOWN

17

OUTSIZED IMPACT Q4 saw the wrap up of the Astros’ season, the start of the Rockets’ season, plus a number of wellattended concerts at Minute Maid Park, Toyota Center, and other venues around town such as House of Blues and the 713 Music Hall. Holidaythemed performances dominated the Theater District, welcoming theater-goers from across the region. The impact of these events were consistently impactful, with up to a 125% increase in Downtown visitation on days when there were

performances or special events when compared to baseline visitation. An important indicator for food & beverage business performance across Downtown, Texas Alcoholic Beverage Commission data demonstrated a steady increase in spending by consumers in Downtown throughout 2023.

Notably, hotels made up 19% of Downtown’s alcohol sales, a nod to the success Downtown has seen as a destination for staycationers, conference attendees, and tourists from afar.

Q4 Downtown Destinations’ Visits & Impact

NOVEMBER 18 Morgan Wallen Concert (Minute Maid Park)

NOVEMBER 4 Rockets vs Kings

OCTOBER 7 Astros vs Twins Dynamo vs Rapids

140% 120%

DECEMBER 16 The Halal Guys College Basketball Showcase

Enrique Iglesias, Pitbull, & Ricky Martin Concert (Toyota Center)

(Toyota Center)

University of Texas vs.

Louisana State University

OCTOBER 14-15 SZA Concert

713 MUSIC HALL

Texas A&M University vs.

University of Houston

125%

(Toyota Center)

104%

Astros vs Rangers ALCS

100%

55%

60%

19

2023 Downtown Alcoholic Beverage Spending

77% 80%

51%

$25M $20M Millions

40% 20% 0%

%

OF ALCOHOL SALES IN 2023 OCCURED AT DOWNTOWN HOUSTON HOTELS AND THEIR RESTAURANTS

$15M $10M $5M

-20%

$0

-40%

DEC 22

-60% 1 OCT

8 OCT

15 OCT

22 OCT

29 OCT

5 NOV

12 NOV

19 NOV

26 NOV

3 DEC

10 DEC

Percentage Change From Baseline Average | Source: Placer.ai

QUARTERLY MARKET REPORT

17 DEC

24 DEC

31 DEC

JAN 23

FEB 23

MAR 23

APR 23

Sales Trend for 77002 & 77010 ZIP Codes

MAY 23

JUN 23

JUL 23

AUG 23

SEP 23

OCT 23

NOV 23

Monthly Reported Sales for 77002 & 77010 ZIP Codes

Source: TX Bar Tab, Texas Alcoholic Beverage Commission

Q4 2023

ONLY IN DOWNTOWN

19

DEEP DIVE: HOLIDAYS DOWNTOWN City Lights: Downtown Holiday Magic, the weekslong series of holiday events and attractions, enchanted Downtown Houston visitors, residents, and workers from mid-November through December. A joint series put on by Downtown Houston+, Houston First, Discovery Green, POST Houston, and the Houston Heritage Society, City Lights brought 11 magical holiday villages to parks and event venues across the neighborhood.

Evening visits were substantial at each of the event venues thanks to sparkling lights and a diverse range of programs, including dog-friendly events, movie nights, ice skating, and special ticketed experiences. Not only were there events to suit all

tastes, but Market Square Park and Trebly Park even welcomed Santas of different races/ethnicities to provide City Lights attendees the opportunity to enjoy the company of a Santa that reflected their identity. Data shows that during the evening hours in late November and December, there were nearly 1 million people at the holiday villages over the course of City Lights. To encourage adventure around Downtown, Downtown Houston+ provided complementary pedi-cab rides between the holiday villages and brought a holiday bus “trolley” to Downtown, offering people the opportunity to enjoy a cozy holiday village tour around the area.

190

K+

CITY LIGHTS WEBSITE VISITS (HOUSTON FIRST AND DTH+)

4

SANTAS OF DIFFERENT RACES/ETHNICITIES

2,453 DOGS ATTENDED SANTA PAWS IN TREBLY PARK

3,083

PASSENGERS ON THE HOP-ON, HOP-OFF HOLIDAY TROLLEY

DISCOVERY GREEN ICE SKATING RINK

30

K

ICE SKATERS ENJOYED DISCOVERY GREEN’S RINK (+19% Y-O-Y)

950

K+

EVENING VISITS TO CITY LIGHTS PARKS AND VENUES DURING HOLIDAY EVENTS AND PROGRAMS IN NOVEMBER AND DECEMBER 2023

POST HOUSTON HOLIDAY VILLAGE

QUARTERLY MARKET REPORT

Q4 2023

ONLY IN DOWNTOWN

21

DOING BUSINESS DOWNTOWN

Upshot

Downtown Houston’s office sector navigated a period of stabilization in Q4 and throughout 2023 as the city adjusted to a post-pandemic economic landscape. Q4 continued the trend of dominance by Class A office space, solidifying the “flight to quality” seen throughout 2023. Vacancy and asking rents remained stable, signifying a period of market equilibrium. Looking ahead, 2024 and 2025 offer promising vacancy reduction prospects, fueled by office-conversion projects and new incentive programs encouraging repurposing vacant assets.

The Downtown market remains highly competitive, both within Houston and across Texas, thanks to its abundant stock of modern, Class A office space. Downtown’s continued appeal stems from its diverse amenities, central location with convenient transit and airport access, and a steadily expanding housing inventory in the immediate area and surrounding neighborhoods. These factors allow Downtown to stand out and remain a one-of-a-kind, mixed-use district for local and international businesses seeking a vibrant and dynamic environment for their employees, as evidenced by the district’s diverse workforce.

2023 closes with the completion of Skanska’s 1550 on the Green, the 28-story, 375,000 square-foot office tower with ground floor retail located immediately south of Discovery Green.

92 89

%

CLASS A LEASES MADE UP 92% OF TOTAL LEASING ACTIVITY IN Q4 2023

%

CLASS A LEASES MADE UP 89% OF TOTAL LEASING ACTIVITY THROUGHOUT 2023

Source: CoStar

Q4 Office Insights Q4 2023

QoQ

YoY

$41.10

-0.2%

+1.8%

Downtown Class A Average $43.82 Asking Rent PSF (Annual)

-0.4%

+1.5%

Overall Vacancy Rate

-0.1%

0.0%

Downtown Overall Average Asking Rent PSF (Annual)

Total SF Leased

23.9%

Q4 2023

2023

314,977

1,794,236

Source: CoStar

RECENTLY COMPLETED 1550 ON THE GREEN

QUARTERLY MARKET REPORT

Q4 2023

DOING BUSINESS DOWNTOWN

23

W

METRORail–Green Line 2 Lamar Tunnel JuliaHistoric Ideson 20 B Houston BCycle Theate METRORail–Purple Line W. Dallas Tunnel & Skywalk 19 Hike & Bike Trails/ A B C D E F G H I J T↔ K L M Jones Hall N Green S T E. McKinney Tunnel & Skywalk Lane RE 58 Kinder HSP ER 3 ST Downtown Tunnel Loop S. Louisiana Tunnel & Skywalk Minute Maid 31 W. Walker Tunnel Convention SkywalkTUNNELS, & SKYWALKS METRO LINES, NOT NEIGHBORHOODS 1 PARKING 51 50 Phoenicia S N. Louisiana Tunnel St. Joseph Skywalk 4 32 1 Avenida Houston 57 POSTPublic Houst N. Travis Tunnel METRORail–Red Line Harris County Tunnel (Limited Access) P P Historic District Rusk Tunnel METRORail–Green Line 2 15 59 Sunset CoffA Limited Access Tunnel & Skywalks D↔ Handic WOO Theater District Lamar Tunnel METRORail–Purple Line 3 35 Toyota CenD B Housto Tunnels are closed on weekends and not open to the public after 6pm.

5 GreenW.Space Dallas Tunnel & Skywalk Hike 60 41 & D UH-Downto 3 10 E. McKinney Tunnel & Skywalk 30 E → Downtown Tunnel Loop Lane E T 60 28 Th G 23 Wortham NC TA S. Louisiana Tunnel & Skywalk NA 55 W. Walker Tunnel RS TE 6 ↔ PARKING & ACCESS IN Scan the QR code 17 H ARD Convention Skywalk GIR N. Louisiana Tunnel for interactive 4 56 H R↔ St. Joseph Skywalk N. Travis Tunnel BAKE map with more P Public Parking information online H Harris County Tunnel (Limited Access) 18 Rusk Tunnel 7 2 Handicap Access Limited Access Tunnel & Skywalks Lamar Tunnel J 20 B Houston BCycle 5 W. Dallas Tunnel & Skywalk J TunnelsHike are closed on weekends 19 & Bike Trails/and not open to the public↔after 6pm.

1 T T E 8 E. McKinney Tunnel & Skywalk Lane RR 58 K 59 0 TE 1 S S. Louisiana Tunnel & Skywalk TE 60 ← COMMERCE 24 6 M TA 32 31 RS Convention Skywalk IL

LI

CK

10

TE

TA

RS

29

B

C

F

27

28

← CAROLINE

V TH RU E

D

MAIN ↔

88

← BELL

B

G 29

H

14 I

J

K

L

CRAWFORD →

← JACKSON

TRAVIS →

CRAWFORD →

← MILAM

← LA BRANCH

AUSTIN →

← LA BRANCH

CRAWFORD →

← JACKSON

← LA BRANCH

AUSTIN →

9

INTERSTATE 45

M

LEELAND →

N

O

74

30

← PEASE

88 31

B

C

INTERSTATE 45 JEFFERSON →

D

← ST. JOSEPH PARKWAY

E

F

G

H

30

%

OF DOWNTOWN JOBS ARE IN PUBLIC ADMINISTRATION, PROFESSIONAL TECHNOLOGY & SCIENCE, AND MANAGEMENT

PIERCE → INTERSTATE 45

31

A

B

C

D

E

F

G

INTERSTATE 45

H

I

J

K

THE COMMUNITY GATHERING SPACE IN UNDERSTORY

QUARTERLY MARKET REPORT

68

74 63

P

INTERSTATE 2845

→

69

SAN JACINTO →

EN

B

CLAY →

PIERCE →

MAIN ↔

←

AN

TRAVIS →

26 A

S

W

E DR

LOUISIANA →

31

↔

27

S↔

LLA

DA

82 67

50

JEFFERSON →

RU

35

CRAWFORD →

27 →

N VE TH ← POLK

WE

25

W.

LOUISIANA →

P

← ST. JOSEPH PARKWAY P

B

P

← PEASE

P

←

← LAMAR

CRAWFORD →

85

P

P

B

HO

30

24

← LA BRANCH

AUSTIN → AUSTIN →

← CAROLINE 52

25% OF STOREFRONTS IN DOWNTOWN ARE LOCATED IN THE TUNNELS—68% ARE F&B

A

50

9

B

B

71

TRAVIS →

83

P 87

P

77

S W RE ND ADALLAS →

7

P

← LA BRANCH

67

43

B

B

← LA BRANCH

P

MCKINNEY →

P

P

70

LOUISIANA →

26

←64WALKER

← MILAM

65

29

~

← SMITH

79 63

38

← WALK

P 47

68

P

P

LEELAND →

D

81

40

P

P ← BELL

↔

44

B

B

20 P

SAN JACINTO →

MAIN ↔

AS ALL

37

3 54

69

39

21

B

AUSTIN →

14

62

P

7

4

PRESTON →19

AUSTIN →

P

CLAY →

W

B

84

P 50

← CAROLINE

18

B

P

82 77

B

P

7

P P

P

SAN JACINTO →

← FANIN

66

U

58

BRAZOS ↔

16

B

← MILAM

6

W.

25

P

70

P

5

74

B

65

76

← LAMAR

24

BRAZOS ↔

INTERSTATE 45

4

BAGBY ↔

18

88

← CAROLINE

← FANIN

INTERSTATE 45

LOUISIANA →

MAIN ↔

P

P THE TUNNELS OF DOWNTOWN HOUSTON 11 P P 20

16

SAN JACINTO →

MAIN ↔

← MILAM

TRAVIS →

78

61

BAGBY ↔

LOUISIANA →

← MILAM

43 P P 11 P

6

52

P 5629

B

4

P

DALLAS →80

↔

Source: MySidewalk (LODES 2020)

23 B

P

13

AW

Other

5

15

B

SH

Mining, Oil & Gas

56

E↔

Arts, Entertainment & Recreation

→

17 53 P

T

60

← CONGRES

8746

72

← POLK

P

P

W HO

Adminstration Support & Waste Management

21

86

← PRAIRIE

27

54

10

P

85

B

83

← WALKER

↔

Finance & Insurance

Accommodation & Food Services

23 29

67

25

MCKINNEY →

P

22

NB

VE

TH

RU

10

EW

AN

82

19

57

P

P

48

P

37

38

P

23

26

S

35

8

P 79

49

P

P

P P

39

P

59

4

47

P

44

P

20

DR

←

72 P 18

P

S

P

21

P

7

P

13

20

21

P

B

17

↔

D

B B

IE

AIR 75 PR

← P 62 ← CONGRESS

17

TRAVIS →

P 19 ALLAS

25

P

24

P 46

P

84 19

15

77

18

78

P

P

32

23

64

58

FRANKLIN →

41

MAIN ↔

26

65

AW

Construction

B

SH

Management

TRAVIS →

← MILAM

RA

←P

76 59 ← COMMERCE 12

B

66

← LAMAR P

P

IRIE

↔

Utilities

20

← SMITH

17

W.

P

23

P

BRAZOS ↔

BAGBY ↔

INTERSTATE 45

16

P

WE

Professional, Technology & Science

↔

22

41

22

Houston First Corporation (HFC) is a local government corporation, established in 2011 to promote Houston tourism and conventions and to operate the city’s convention and performing arts facilities in Downtown Houston. Headquartered in Partnership Tower, HFC partners with Downtown Houston+ and other venues to promote Downtown as a world-class destination.

EE

16

6

CK

18

28

Transportation & Warehousing

B

48 11

27

Public Administration

5

15

21

61

P

8

12

56

B

4

P43

P 16

P

← WALKER 14

Moving forward, Downtown’s tunnels—and office workers—will likely seek a more deliberate relationship to the street level. An example of this trend can be found with Understory, located at the base of the Bank of America Tower. Understory is a food hall and community space, designed as an atrium and features offerings both at street level and at “tunnel level.”

M

P

NTO ↔

13

1

22 50

55 R↔

53

P

15

P

↔

PRESTON 24 →

42 54

ARD

GIR

BAKE

2

80

TE

← CONG

86

14

19

24

17

13

32

P

7

P

↔

← PRAIRIE

13

P

26

8.8%

P

60

44 38

84

15

HO

7.4%

12

12 P

39 TA

RS

ARD GIR 37

P

32

20

25

25

↔

7.4%

26

AW

6.6%

11

SH

17.3% 69.4%

5.8%

IRIE

19

23

P

PRA

18

5.5%

48

I

72

E NT

57

10

TE

P

B

IN

N JACI

3.6%

P

Scan the QR code for interactive map with more 23 41 information online

21

D↔

WOO

P

49

118

12

←

B

46

↔

P

17

21.4%

T NU AL

W

8

10

10

↔

↔

75 Tunnels are closed on weekends and not open to the public after 6pm. ← CONGRESS

16

10.3%

10

N. SA

13

15

2.6% 3.2%

AM

EY

7

9

Greater Houston Partnership (GHP) is the Houston region’s business engine and fuels regional growth by attracting global companies, fostering trade, and advocating for pro-business policies across the 12-county region. Headquartered in Downtown’s Partnership Tower, GHP partners with Downtown Houston+ on connecting Downtown leaders with corporate prospects, data analysis, and driving strategic initiatives to advance economic development in the heart of the city.

Scan the QR code B for interactive P map withFRANKLIN more → information online

9 St. Joseph Skywalk P Harris County Tunnel (Limited Access) Limited Access Tunnel & Skywalks

14

Downtown Houston Employment Composition

TE

LI

CH

42

12

The tunnels grew organically over time, starting in the 1930s with a single tunnel connecting two movie theaters. The theaters were owned by the same entrepreneur, and the first tunnel’s purpose was to share air conditioning. Gradually, other buildings began constructing their own tunnels for various purposes, eventually merging into the intricate network we see today.

IN

IL

RI

11

W

10

NTO ↔

9

LOUISIANA →

8

N JACI

A regionally-unique amenity for workers, Downtown Houston’s retail tunnels connect office buildings and boast 101 businesses, or 25% of Downtown’s overall storefronts. 68% of these businesses are food & beverage enterprises with operating hours catered to Downtown’s office workers. The tunnels are perceived as inaccessible to the general public, which is somewhat by design as they are privately managed by property owners and open only during weekday business hours.

← SMITH

7

← From US 59 North

↔

In addition to Downtown Houston+, Downtown is home to organizations with missions to advance economic development in Downtown Houston and across the region. Two key partners for Downtown Houston+ include Greater Houston Partnership and Houston First Corporation.

DEEP DIVE: THE TUNNELS

6

N. SA

Nearly 150,000 workers walk, ride, and drive to jobs in Downtown Houston. While the energy sector has long fueled Downtown Houston’s economic engine, the diversity of Downtown’s workforce reflects an evolving composition of Downtown industries.

Professional services sector has been on the rise, and many law firms, accounting firms, and consulting firms have expanded their operations in Downtown.

GREATER HOUSTON PARTNERSHIP AND HOUSTON FIRST

T NU AL W

DOWNTOWN’S WORKFORCE

↔

↔

EE

EY

↔

CH

M

AM

RI

5

Q4 2023

DOING BUSINESS DOWNTOWN

25

L

M

N

LIVING DOWNTOWN Upshot

Q4 witnessed persistent stability in asking rent, vacancy, and cap rates across Downtown Houston’s multifamily assets, nearly mirroring Q3. Notably, Downtown continues to dominate in terms of construction activity, boasting a greater increase in under-construction units than both year-over-year growth in Greater Downtown (the two-mile radius around Downtown) and the broader project pipeline inside Loop 610. High-quality offerings in Downtown keep asking rents per square foot consistently higher than the overall average for the greater Downtown area.

Downtown Houston celebrated a housing milestone: The delivery of a naturallyoccurring office-to-housing project, Elev8.

Bringing 372 new housing units to Downtown, the Elev8 project converted a 1970s office building into high-end apartments at 1801 Smith. The project is a timely delivery in the wake of the recently published Downtown Houston+ Office Conversion Study which unpacks incentive models for buildings that face hurdles for conversion. Elev8’s arrival is just the tip of the iceberg for new housing in and around Downtown. Neighboring communities around light rail lines, Buffalo Bayou trails, and protected bike and walking paths are witnessing a surge in multifamily developments. This trend signifies a broader transformation of Houston, with Downtown emerging as a vibrant hub for living, not just working.

7,726 Source: CoStar

QUARTERLY MARKET REPORT

Q4 2023

MULTIFAMILY UNITS

Downtown Houston Multifamily Insights Downtown

Greater The Loop Downtown

Existing Units

7,726

31,112

129,756

YoY

+9.4%

+6.6%

+3.0%

Under Construction Units

718

3,601

6,863

Monthly Avg Asking Rent

$2,315

$1,859

$1,714

Monthly Avg Asking Rent/SF

$2.31

$2.03

$1.90

QoQ

-0.8%

-1.1%

-0.8%

YoY

-2.1%

-2.3%

-0.9%

Vacancy Rate

16.3%

11.1%

8.9%

QoQ

+3.3%

+0.7%

+0.3%

YoY

+0.3%

+0.6%

+0.2%

Market Cap Rate

6.08%

6.37%

6.33%

QoQ

+0.08%

+0.08%

+0.08%

YoY

+0.71%

+0.73%

+0.70%

Source: CoStar Note: Greater Downtown is the two-mile radius around Downtown’s most center point

10,170

RESIDENTS

Source: mySidewalk (Census). Note: This figure is different from the Q3 2023 report due to a change in source from Placer to an analysis of Census data

LIVING DOWNTOWN

27

OUR DEMOGRAPHICS

DEEP DIVE: OFFICE CONVERSION STUDY

Downtown Houston’s population is a blend of young professionals and established residents.

While half of Downtown’s residents are white, the demographics are evolving to reflect the diversity of Houston with growing proportions of residents identifying as African American or Hispanic. Over the last ten years, the number of housing units tripled and the population has more than doubled, largely credited to the Downtown Living Initiative, a program led by Downtown Houston+ and the City of Houston to support the creation of housing.

In the competitive environment of office leasing, older and outdated towers struggle. This challenge is playing out in business districts across the country as cities adapt to the new normal for inoffice work. In Downtown, Class A office towers comprise nearly 70% of the Downtown office market, and a handful of outdated buildings can’t compete with their attractiveness.

The underperformance of those building drives vacancy rates higher, which pulls down the

market’s overall occupancy rate. Further, as their taxable values diminish, so do the capacities for local agencies to provide services. Recognizing the danger of not acting, Downtown Houston+ commissioned a feasibility study to inform the establishment of a potential office conversion program in Downtown.

Read the complete study at www.downtownhouston.org/about/ priority-projects

Race / Ethnicity of Downtown Residents 1% 3%

White Black

8%

Hispanic Asian

16%

Other

55%

Two or More Races

17%

Source: mySidewalk (Census 2018 - 2022)

AGE

$95,051 MEDIAN HOUSEHOLD INCOME

37.3

35.5

1.32

64.5

MEDIAN AGE OF RESIDENT

PERSONS PER HOUSEHOLD

QUARTERLY MARKET REPORT

%

WOMEN

MEN

Q4 2023

%

Five key takeaways from the study include: Not all conversion candidates are alike

Acting now could minimize losses

Some of the most challenging buildings will require aligned governmental participation

he market’s appetite for T residential conversion is proven, marked by the recent example of Elev8 (1801 Smith Street)

38

%

Of Downtown’s conversion candidates are eligible for historic designation, a milestone needed to unlock historic tax credits which are critical to many conversions.

LIVING DOWNTOWN

29

LOOKING AHEAD INVESTMENTS IN MARKET SQUARE PARK

ELICIOUS DEVELOPMENTS D OPENING SOON

AKING THE HELM T FOR HOUSTON

I LLUMINATING BIG ART. BIGGER IMPACT.

Two key Downtown Houston+ partners—Greater Houston Partnership, (GHP) and Houston First— have welcomed new leaders.

Steve Kean became CEO of GHP after 20+ years at Kinder Morgan, one of North America’s largest energy infrastructure firms. “Steve…can understand and execute on the big picture and yet pay attention to details that often make the difference between success and failure,” said Rich Kinder, Exec. Chairman, Kinder Morgan, Inc. and Chairman, Kinder Foundation. “I am sure he will do an outstanding job.”

FEDERAL AMERICAN GRILL - 1221 MCKINNEY STREET

Donated in 1854 for Houston’s first open-air marketplace, Market Square Park is getting a glow-up. Arborists nursed an ailing tree seven years past life expectancy, and now a new 36’-tall oak will shade visitors as an evergreen symbol of vitality. After 13 years with a single operator, the food and beverage kiosk will welcome new energy and refreshed surroundings. Back by popular demand, the Market Square Farmers Market will return for Spring and Fall seasons. Gravel will give way to turf in the large and small dog parks.

With a dedicated team cultivating Market Square Park, the best is yet to come for this 120-year-old community hub.

Downtown Houston adds bragging rights as a culinary destination with two heavily anticipated new restaurants. Red-hot Houston restaurateur Benjamin Berg will bring a New England-style seafood restaurant, Dune Road to Texas Tower, Downtown’s newest Hines skyscraper. And Brookfield Properties burnishes its lavishly renovated and repositioned Houston Center with Federal American Grill, adding a unique outdoor dining experience within a short walk of the convention center, Discovery Green, plus major sports and entertainment attractions.

QUARTERLY MARKET REPORT

Q4 2023

Mayor John Whitmire tapped Jay Zeidman, Co-Founder and Managing Partner of Altitude Ventures, to succeed outgoing Houston First Board Chair David Mincberg. Whitmire said the organization “has shown its capacity to do big things and promote Houston around the world,” and expressed confidence the organization will “continue to grow our hospitality and tourism industry.”

As we plan, build, manage, and promote the heart of Houston, Downtown Houston+ looks forward to working alongside these talented and proven leaders.

A strategic initiative is underway to illuminate some of the 32 murals installed through the Big Art. Bigger Change. mural program. While these artworks improve Downtown by day, their impact diminishes after sunset. As part of a new comprehensive pedestrian lighting plan, illuminating these fine-art murals aligns with a broader commitment to creating a comfortable and visually appealing urban landscape.

LOOKING AHEAD

31

ABOUT DOWNTOWN HOUSTON+ Downtown Houston+ stewards the vision of Downtown as a center of global commerce and local culture and Houston’s heart for opportunity, excitement and joy. Its family of aligned entities – Central Houston Inc., Houston Downtown Management District and Downtown Redevelopment Authority – collectively advance a shared mission to champion and enhance Downtown Houston as a connected and thriving place for everyone. For more information, visit downtownhouston.org.

CONTRIBUTING STAFF JENNA BEASLEY, Communications Manager BRENDAN HARRISON, Research & Economic Development Specialist CASSIE HOEPRICH, Director of Planning & Economic Development

DOWNTOWN REDEVELOPMENT AUTHORITY BOARD

KRIS LARSON, President & CEO ANN TAYLOR, Director of Engagement

Special thanks to the featured photographers and partners. If you have inquires related to the data and information presented in this report, please contact cassie.hoeprich@downtownhouston.org.

To learn more about Downtown Houston+ Clean and Safe services, reach out to operations@ downtownhouston.org or visit downtownhouston.org.

QUARTERLY MARKET REPORT

HOUSTON DOWNTOWN MANAGEMENT DISTRICT BOARD

CENTRAL HOUSTON INC. / CENTRAL HOUSTON CIVIC IMPROVEMENT INC. BOARD

OFFICER

NAME

TITLE/ORGANIZATION

OFFICER

NAME

TITLE/ORGANIZATION

Chair

Leslie Ashby

Partner/ Ashby, LLP

Chair

Dilip Choudhuri

Vice Chair

Robbi Jones

President/ Kipling Jones & Co.

President & CEO/ Walter P Moore

Vice Chair

Stephanie Burritt

Treasurer & Investment Officer

Richard Torres

President and Executive Director/ Christus Foundation for Healthcare

Managing Director and Principal/ Gensler

President & CEO

Kristopher Larson

President & CEO/ Central Houston Inc.

Treasurer

Alex Jessett

Secretary

Marian Harper

Vice President, Foundation Development / Astros Foundation

Executive Vice President of Finance/ Camden Property Trust

Secretary

David Ruiz

Chair, Marketing & Communications

Angus Hughes

Executive Director/ Cushman & Wakefield

SVP/ Community Relations, Bank of America

Director

Dr. Loren Blanchard

Chair, Retail & Attractions

Edna Ramos

Downtown Property Owner

President/ University of Houston Downtown

Director

Dougal Cameron

Chair, Maintenance & Operations

Kenny Meyer

President/ MC Management & Development

President/ Cameron Management

Director

Ric Campo

Chairman & CEO/ Camden Property Trust

Director

Crystal Allen

Managing Director/ Transwestern

Director

Jim Casey

Director

Sean Alley

Vice President Operations/ Brookfield Properties

Senior Managing Director & Houston Leader/ Trammell Crow

Director

Amy Chronis

US Oil, Gas & Chemicals Leader/ Deloitte

Director

Kinder Baumgardner

Managing Principal/ SWA Design

Director

Matt Damborsky

EVP, Skanska USA Commercial Development

Director

Genora Boykins

Asst. Regional General Counsel - Retired/ NRG Energy, Inc.

Director

Danny David

Partner, Department Chair Litigation (Firmwide), Baker Botts

Director

Clay Crawford

Partner/ Sears & Crawford L.L.P.

Director

Laura Edrington

Director

Marcus Davis

Owner/ Kulture

Managing PartnerHouston Office/ Locke Lord LLP

Director

Mark C. Evans

Director

Jacques D’Rovencourt General Manager/ Hilton Americas- Houston

Co-Chairman/ Bracewell LLP

Director

C. Richard Everett

Director

Terry Demchak

Resident

Chairman & CEO/ Everett Interests

Director

Tilman J. Fertitta

Director

Kelly Foreman

Executive Vice President/ Amegy Bank

Chairman & CEO/ Landry’s Restaurants, Inc.

Director

Irma Galvan

Owner/ Irma’s Original

Director

Bradley R. Freels

Chairman/ Parkway Companies

Director

Gilbert A. Herrera

President/ Herrera Partners

Director

Martyn E. Goossen

Vice Chairman/ JP Morgan Chase & Co.

Director

C.C. Huang

CPC Corporation

Director

Adam Greene

Shareholder/ Baker Donalson

Director

Antoinette M. (Toni) Jackson

Principal/ The Banks Law Firm

Director

Fred B. Griffin

Co-Chairman/ Griffin Partners, Inc.

Director

Lacee Jacobs

Senior Vice President, Strategic Leasing & Advisory/ Parkway

Director

Hillary Hart

Executive Director/ Theatre Under the Stars

Director

Michael Heckman

President & CEO/ Houston First Corporation

Director

Wendy Heger

Principal/ Page

Director

Jeffery Hildebrand

Executive Chairman and Founder/ Hilcorp Energy

OFFICER

NAME

TITLE/ORGANIZATION

Chair

Curtis Flowers

Executive Director/ JPMorgan Chase

Vice Chair

Michele J. Sabino

Consultant/ Third Sector Services

Treasurer/ Investment Officer

Keith Hamm

Emeritus Professor of Political Science/ Rice University

Director

Roland Kennedy

Internal Stakeholder Manager, Corporate Real Estate/ Chevron

Secretary

Barry Mandel

President & Park Director - Retired/ Discovery Green

Director

Sean Liu

Head of Legal/ Lionstone Investments

Director

James B. Harrison

Principal/ Harrison Kornberg Architects

Director

Benjamin Llana

Vice President Development/ Skanska

Director

Regina Garcia

Interior Design, Curator Consultant/ Corporate Gifts

Director

Nick Massad III

Senior Vice President of Development/ American Liberty Hospitality

Director

Kirby Liu

Managing Director/ POST HTX and Lovett Commercial

Director

Sherea McKenzie

Executive Director/ J C Hester House

Director

Randy Pryor

Director

Tiko Reynolds-Hausman

Chief of Staff of Operations/ Harris County Precinct 2

Vice President, Distribution Operations/ CenterPoint Energy

Director

Grace Rodriguez

Director

William J. Taylor, III

Harris County Precinct 1 - Retired/ Director, Development and Infrastructure

CEO/Executive Director/ Impact Hub Houston

Director

John Schafer

Managing Director/ Hyatt Regency Houston

Q4 2023

CONTINUED ON THE NEXT PAGE >

APPENDIX

33

DATA SOURCES CENTRAL HOUSTON INC. / CENTRAL HOUSTON CIVIC IMPROVEMENT INC. BOARD

Houston Downtown Management District District Boundary

69

Office Managing Principal/ KPMG LLP

RUIZ

Director

Ira Mitzner

President & CEO/ RIDA Development

Director

Niloufar Molavi

Global Leader Oil & Gas/ PwC

FANNIN ST

MAIN ST

TRAVIS ST

MILAM ST

SMI

TH

ST

LOUISIANA ST

COMMERCE ST

FRANKLIN ST

HAMILTON ST

Julie Luecht

CHENEVERT ST

Director

JACKSON ST

President & CEO/ Greater Houston Partnership CRAWFORD ST

Steven J. Kean

LA BRANCH ST

Director

10

AUSTIN ST

TITLE/ORGANIZATION

CAROLINE ST

NAME

SAN JACINTO ST

OFFICER

CONGRESS AVE

PRESTON ST

45

PRAIRIE ST

DR L DR RIAL ORIA EMO MEM

TEXAS AVE

CAPITOL ST

RUSK ST

Kathy Payton

President & CEO/ Fifth Ward Community Redevelopment Corporation

Director

Daron Peschel

Sr. Vice President In Charge/ Federal Reserve Bank, Houston Branch

Director

Theola Petteway

Executive Director/ OST/Almeda Corridors Redevelopment Authority

Director

Cody Schneider

Partner/ Winstead

Director

Dave Stevenson

SVP/ Amegy Bank of Texas

Director

Amber Tierce

Corporate Affairs Manager/ Houston, Chevron Corporation

Director

Jennifer Wagner

Partner/ HKS Architecture

Director

Jason Wells

EVP/CFO/ CenterPoint Energy

CHENEVERT ST

Director

JACKSON ST

Executive Vice President/ Brookfield Properties

AUSTIN ST

Travis Overall

LA BRANCH ST

Director

Placer.ai

CRAWFORD ST

Managing Director/ Area Manager/ Russell Reynolds Associates

CAROLINE ST

Stephen Newton

69

SST WS EEW RREW DRE NDR AAND

N

SAN JACINTO ST

Director

45

CoStar

CLAY ST

FANNIN ST

Houston Market President/ Bank of America

K ST

POL

ALL SECTIONS

ST

DAL

MAIN ST

Hong Ogle

DALLAS ST

LAS

W

TRAVIS ST

Director

LAMAR ST

BAGBY ST

Senior Managing Director/ Hines

BRAZOS

John Mooz

MCKINNEY ST

SMITH ST

Director

WALKER ST

ST. JOSEPH PKWY

PIERCE

45

Downtown Houston+ mySidewalk THE DOWNTOWN PULSE METRO Ridership Reports (ridemetro.org) Houston Parks Board ONLY IN DOWNTOWN Texas Bar Tab (texasbartab.com) Discovery Green (discoverygreen.com)

LOOKING FOR ECONOMIC DEVELOPMENT ASSISTANCE?

Houston First Corporation (visithoustontexas.com) POST Houston (posthtx.com) DOING BUSINESS DOWNTOWN mySidewalk (LODES 2020)

TYPES OF SERVICES PROVIDED:

Forbes

A ‘Welcome’ Package of information related to running your business in Downtown Houston

LIVING DOWNTOWN

Comprehensive research and reports about the Downtown market

mySidewalk (U.S. Census Bureau 2018 - 2022)

Property owner/commercial brokerage contacts Assistance navigating regulatory hurdles Identifying clustering and co-tenancy opportunities I nformation about business development resources, financial incentives, and other programs

QUARTERLY MARKET REPORT

Q4 2023

APPENDIX

35

DOWNTOWNHOUSTON.ORG