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Crescent Appeals Compaq Center Case Dismissal

HOUSTON-The battle over the Compaq Center rages on as a federal judge dismisses the case. Crescent Real Estate Equities appeals, and is not giving up on keeping Lakewood Church from leasing the building for up to 90 years.

By Jennifer Brenner Andrade | Updated on November 26, 2001

HOUSTON-Federal judge Kenneth Hoyt has granted the city’s motion to dismiss the case disputing the legality of leasing the Compaq Center to Lakewood Church. If approved, the lease would hand the Compaq Center over to the church for up to 90 years.

Fort Worth-based REIT Crescent Real Estate Equities filed the case in July charging such a lease would violate the deed restrictions put on the property when the late Kenneth Schnitzer donated the land in the early 1970s. According to deed restrictions, the property was to be used for the first 25 years as a municipal sports arena. For the next 30 years, uses are restricted to either continuance as an arena or as a location for offices, a library, a post-office, retail, banks and savings and loan associations.

Hoyt has granted the city’s motion to dismiss the case on the jurisdictional grounds holding that the case is premature. Crescent owns a 4 million sf office center, Greenway Plaza, next to the Compaq Center and has filed an appeal today in the US First Circuit Court of Appeals.

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