The 25-story building originally constructed in 1928 by Jesse H. Jones will get a big makeover.
HOUSTON—Commerce Towers, one of downtown's most historic high-rises with luxury condominiums for lease and sale, is soon to undergo renovations to set it apart in the marketplace. The towers had one other renovation completed in 2004. The 25-story building originally constructed in 1928 by Jesse H. Jones was purchased in 1999 by Premier Towers LP.
"We're excited about the changes that will be implemented in order to support the long-term vitality of the property," said Nosson Dubin, vice president of business development with Commerce Towers. "Our goal is to enhance the Commerce Towers experience for our current and future residents."
While the timeline and specific details have not been disclosed, the renovations will include updates to the lobby, major improvements to the amenity areas such as the pool deck, workout room and party rooms, and exterior renovations that will preserve the historic appeal of the building.
"It's important for us to maintain our reputation as being one of the most desirable communities for residents in the downtown area," said Dubin. "While we work to reposition the look and the feel of the property, there's no changing our prime location which includes access to the tunnels and high walkability."
Each individual unit is unique to the building, with square footage of up to 4,500, which is almost unattainable at any other property in the area. With a total of 140 units, 71 units are owned by Premier Towers LP including multiple built-to-suit penthouses, and the remaining units are owned by individuals.
"These renovations will continue to position our property as the leading luxury residential option in the Houston downtown market," Dubin tells GlobeSt.com. "The renovations will be gorgeous and I know our current and future residents will be really pleased with the changes."
Houston will be coming out of the seasonal slowdown with optimism that 2020 will be the year it emerges from the issues of the past four years, including the oil recession and Hurricane Harvey. A return to a more normal growth pattern would be a welcome relief, according to a report by ApartmentData.com.
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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.
