HOUSTON-The old Texaco building downtown will be redeveloped into apartments. Dallas-based EFO Holdings is about to buy the 13-story building, so-called the Texas Co. Building on Rusk between San Jacinto and Fannin, from Dallas-based Kimberly-Clark Corp.
EFO Holdings has plans to convert the property into a residential building with nearly 240 units. The first phase of the redevelopment may cost nearly $70 million. Construction could begin during Q1 2012. CB Richard Ellis in Houston is handling the deal for the owner. For the full story, go to Houston Chronicle.
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