East River project breaks ground
Ambitious mixed-use development expected to transform Fifth Ward
East River — a $2.5 billion, 150acre mixed-use development just east of downtown — broke ground Thursday morning.
Joined by Mayor Sylvester Turner, developers and others involved with the project donned hard hats and gray masks as they scooped up shovels full of sand in front of the downtown skyline. Cameras whirred.
Midway took the opportunity to announce Method Architecture and hot water system company TEAL as office tenants for the project’s first phase, and said the owners of the Astorian event venue would open a new event space and rooftop bar there.
The development is Midway’s most ambitious yet, and is planned to eventually stretch along a mile of waterfront on the north shore of Buffalo Bayou on the southern edge of Fifth Ward. The plan spans the equivalent of 60 city blocks and includes 1 million square feet of new construction — including apartments, office space, restaurants, retail shops, and medical and entertainment buildings.
The large swath of land located in the heart of the city was an industrial site for nearly a century. Midway, the Houston-based developer best known for developing the mixed-use shopping destination CityCentre in west Houston, has partnered with the Houston-based investment company Cathexis RE Holdings to redevelop the site. The first phase is projected to be complete in 2023, while the entire project could take 15 to 20 years.
East River is expected to have a transformative impact on the historically black neighborhood of Fifth Ward, a prospect that has raised both hopes of benefits for the community and fears of displacement.
“Today, we’re launching the beginning of the most important revitalization project in a generation,” Turner said. “We often say a rising tide lifts all boats,” he continued, calling East River “an opportunity… that could uplift Fifth Ward, Second Ward… and the (Houston) region.”