Chevron announces plans for Building 50-story Tower in Houston

[Truth713]

Originally Posted by Jack Lance

OK so you do think they are having second thoughts about their own building period. Even after the city and others jumped through all those hoops to get them a better deal to build?

Yep, but from a bussiness stance I can understand.. why build a new tower when a bunch of new ones wil be built by someone else.

[texas7]

Maybe they plan to move into the rebuilt building that Exxon will vacate in 2014-2015. Timing would be right.

[JimBaker488]

Originally Posted by Jack Lance

I wonder if the powers that be in California offered a deal to keep those employees there ?

The company does not expect to make a decision on when the project could resume until after 2014, Higgs said. Delaying the building, he added, will not affect previously announced employee relocations into Houston.
Higgs said Chevron is still committed to building the tower, as well as a few other real estate projects it had planned around the country that are also being suspended. A large office building project in Midland is moving forward.
Chevron puts downtown tower on hold - Prime Property
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And it looks like they've assigned a higher priority to the building project in Midland than Houston. No doubt
the Permian Basin is hot.

[Jack Lance]

Originally Posted by JimBaker488

The company does not expect to make a decision on when the project could resume until after 2014, Higgs said. Delaying the building, he added, will not affect previously announced employee relocations into Houston.
Higgs said Chevron is still committed to building the tower, as well as a few other real estate projects it had planned around the country that are also being suspended. A large office building project in Midland is moving forward.
Chevron puts downtown tower on hold - Prime Property
******
And it looks like they've assigned a higher priority to the building project in Midland than Houston. No doubt
the Permian Basin is hot.

Yes and the Midland office market is 98% occupied. Like truth713 suggested they may decide to lease in some of the other office building being built downtown or maybe like Texas7 suggested they may be looking at a refurbished radiator instead

[JimBaker488]

Originally Posted by Jack Lance

Yes and the Midland office market is 98% occupied. Like truth713 suggested they may decide to lease in some of the other office building being built downtown or maybe like Texas7 suggested they may be looking at a refurbished radiator instead

Are they still talking about building that 50+ story skyscraper in Midland ? And of course I'm not talking about
Chevron's Midland project, because I may not know how many stories are planned for it but I'm sure it's nothing like 50 some stories ?

[Jack Lance]

Originally Posted by JimBaker488

Are they still talking about building that 50+ story skyscraper in Midland ? And of course I'm not talking about
Chevron's Midland project, because I may not know how many stories are planned for it but I'm sure it's nothing like 50 some stories ?

The last I read is as soon as they pre-lease 30% or so the City will donate the land and construction will start. Most articles say it is planned for 53 floors...