The completion is planned for December, a month before the opening of the light-rail system in a carefully timed back-to-back delivery, Dennis Greer, COO of the Central Houston Civic Improvement Inc., tells GlobeSt.com.
The bulk of the project was financed with private capital, of which $6.4 million came from the Houston Endowment, Wortham Foundation, JPMorganChase, Reliant Resources and Elkins Interests. The Main Street Market Square Redevelopment Authority also contributed to the project, which was on the drawing boards for 1 1/2 years before getting the green light about eight months ago from Houston City Council.
"The square is strategically located in the heart of downtown," said Robert Eury, president of the Central Houston Civic Improvement Inc. "That's why we were motivated to do the project, because we realized it was appropriate to create such a public place on such an important site."
The park is at the epicenter of downtown Houston's revitalization. According to the civic group, property owners consider the project as a catalyst for a retail rebirth. The square will connect downtown to Midtown, Museum District, Texas Medical Center and Reliant Park, the site of Houston's new NFL football stadium.
The square was designed by the Los Angeles office of New York City-based Ehrenkrantz, Eckstut & Kuhn. Miner-Dederick Construction of Houston is the general contractor.
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