The once open Rice lobby now a private space for tenants
Since the historic Rice Hotel re-opened asa high-end apartment building in the late 1990s, the property’s soaring lobby often served as a gathering place for not only the building’s tenants but for downtown workers who would walkthrough after eating at one of the adjoining restaurants, meet a colleague for coffee or just stop in to see a rare example of Houston preservation.
Those days are gone.
The property sold last year and the newowner has implemented a numberof changes, including reserving the lobby space exclusively for its tenants.
“We want the residents to enjoy what they’re paying for,” said Joe Arentz, senior regional manager-real estate for Greystar, which manages the property, now referred to as The Rice.
The building is in the middle of a major renovation, one that the owners hope will elevate it into one of downtown’s premier residential buildings.
Higher rents are part of the plan.
Renovated units go from around $1,650 for a studio to
$4,500 for a two-bedroom, thoughtheownerisofferingonemonthoffreerent onanremodeledunit.So far, 60of the 308 units have been completed or are in the renovation process.
Renovations to the lobby area bout 80 percent complete.
The older, moretraditional furnishings that used to fill the two-story space have been replaced with moderns of as and chairs in earth-toned fabrics.
Apair of oversized flatpanel television screens broadcast cable news from one corner of the cavernous space.
One of the more striking changes is the contemporary glass chandelier that now hangs from the twostory ceiling in a space that used to hold a stained-glass skylight surrounded by recreated frescoes.
Randall Davis, who redeveloped the building with Post Properties with the help of public funding, said part of his motivation for restoring the building was “to give Houstonians some place wonderful to go indowntown.”
“There used to be people that congregated in the lobby just to see it because it has such a historical fabric,” Davis said.
In its heyday, the hotel attracted politicians and celebrities. In 1998, anarticle in the Chronicle listed Mick Jagger, Shirley Temple, Franklin D. Roosevelt and Richard M. Nixon among the guests who stayed there.
The site of the hotel, at the northwest corner of Main Street and Texas Avenue, once served as the Capitol of the Republic of Texas.
Given its rich history, “the public feels a sense of attachment with it,” said BobEury, president of the Downtown Redevelopment Authority. But Eury also understands there’s nothing to stop an owner from keeping the lobby private.
Crow Holdings Capital Partners of Dallas bought the building last year from Post Properties.
Greystar’s Arentz said the building’s Crystal Ballroom is still available for special events. And adjacent retailers will still have access to the restrooms in the lobby.
The renovations tothe property result in a “stunning transformation,” Arentz said. “It’s truly a historic gem.” Only a garage, so far
The developer planning Capitol Tower, the 35-story office building slated for downtown’s former Houston Club building site, is planning to pour the foundation for the structure next month, but as of now, there are noplans to construct the tower portion of the project.
Sowhat’s with all the construction onthe property?
The HoustonClub building was imploded last year, but the garage onthe site was to remain because of an existing parking contract. During the implosion, however, the garage was damaged and had to be demolished.
Project developer Skanska USA Commercial Development is now building a new garage on the southern half of the block.
“We’re still executing our project plans,” said Michael Mair, executive vice president and regional manager for Skanska USA in Houston.
Mair said he won’t have an estimated date on when the pedestrian tunnels beneath the property will re-open until plans for the site are further along.
Capitol Tower was designed by Gensler to have 750,000square feet anda tunnel-level lobby visible to pedestrians onthe streets above it.
In January, Skanska said the building would not break ground until a substantial portion of the space was pre-leased. Skanska has been in the market for a tenant.
“We’re preparing our site to go vertical when that decision gets made,” Mair said.