Houston Post Office stamped for redevelopmentHouston Post Office stamped for redevelopmenthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=862015-08-21T12:40:00Z2015-08-21T11:45:00Z

HOUSTON - Lovett Commercial has acquired the downtown U.S. Post Office property, a key 16-acre redevelopment site overlooking Buffalo Bayou.

“This is one of the most important tracts of land in the City of Houston,” said Ann Taylor, Executive Director of Urban Land Institute (ULI) Houston.

Lovett is expected to develop a mixed-use project with retail, residential and office on the Post Office site, 401 Franklin St.

“It’s extremely rare to find a downtown site with direct, easy access to I-10, I-45 and numerous adjacent neighborhoods in Houston,” said Burdette Huffman, Vice President for Lovett Commercial. “Our goal is to create a very special mixed-use development that leverages the Bayou, the theater district and the significant scale of the property.”

The Lovett organization paid about $40 million for the site, although the sales price was not disclosed in Lovett’s press release.

The Post Office, built in 1962, has 517,000 sf of buildings, including a five-story office building that may be redeveloped by Lovett into office space or lofts.

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