Metro has finally posted online the press release it issued last week announcing its new real estate development venture:
METRO, Transwestern Launch Visionary TMC Development
Oct. 21, 2005METRO and Transwestern Development Company of Houston today announced they plan to jointly launch a $105-million mixed use development atop the Texas Medical Center Transit Center.
The project, designed to serve as a “gateway” to TMC, will include a 175-suite, full-amenities hotel, including meeting facilities, lounge and ballrooms; 30 condominiums above the hotel; 35,000 square feet of retail space accessible by sky bridge; and an elevated park-like setting with a 168,000-square foot medical office building and a 15,000-square foot wellness center and spa.
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“”This will give Houston its first good look at the new METRO,” said METRO Board Chairman David S. Wolff, “leveraging our properties to create developments that give something of value to the community while creating ridership for our transit system.”
METRO President and CEO Frank Wilson said transit oriented development and other innovations are illustrative of the Authority’s transformation. “Our co-development in the Medical Center and the innovative approaches we’re taking to build Phase 2 of METRO Solutions should make it clear to everyone that this is not your father’s METRO.”
