48-STORY MIXED-USE TOWER FOR TEXAS MEDICAL CENTER

Houston-based Medistar Corp. plans to build the 48-story Innovation Tower containing medical office space, and potentially residences, in the Texas Medical Center on Main Street in Houston, the Houston Chroniclereports. Construction is expected to start in the third quarter of this year. The first phase will consist of 476,500 sq. ft. of office space, a 1,700-car parking garage and possibly retail. The market will drive the second phase, which could be additional office space or approximately 400 residential units. In all, the tower will offer 1.6 million sq. ft. connected to the recently completed InterContinental Houston Medical Center hotel and Latitude Med Center apartment tower.