HOUSTON—Lyric Market is a 31,500-square-foot food-hall concept and 801-space parking garage opening in the fall of 2018. The marketplace is expected to serve as downtown's ultimate destination for food and tastemakers, and a community-centric gathering place.
Lyric Market will host local and international chefs, artisans and purveyors to create a culinary marketplace and food experience for locals and visitors alike, GlobeSt.com learns. The finished project will have al fresco terraces, private event spaces including a second-story terrace café available for events up to 400 guests, underground speakeasy and food-focused concepts. The ground-floor retail will house a food hall including a bakery, sushi bar, ice cream shop, and wine and cocktail bars. The 10-story structured parking garage will have LED-lit panels for evening light shows.
With a Walk Score of 95, the property sits at the southwest corner of Louisiana and Preston Streets in the heart of the Theater District, and is blocks from Houston Grand Opera, Jones Hall for the Performing Arts, Market Square Park, Houston Ballet, 800 nearby luxury apartment units and more than 1.5 million square feet of office space. The project is replacing the 125-space existing surface parking lot adjacent to the Lyric Centre office building.
Holliday Fenoglio Fowler worked on behalf of the borrower, a private investor, to secure the construction loan with Origin Bank. The HFF debt placement team representing the borrower included director Matthew Putterman. Joe Cox, senior vice president at Origin Bank, represented the lender.
“The Lyric serves the quickly growing need for more retail and parking in downtown Houston,” Putterman tells GlobeSt.com. “The Lyric Market will be a culinary destination for all Houstonians, including the many people living and working downtown, visitors to the Theater District and tourists seeking a new experience unlike any currently available in the region.”
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
