The former headquarters of Humble Oil, a predecessor to Exxon, will be converted to apartments in Houston, after New York-based developers CMI Developers purchased the building with a plan for adaptive reuse.
Developers with a track record of adaptive reuse have bought the former home of Exxon and its predecessor company, Humble Oil. If complete, the project could become one of the most high-profile examples of adaptive reuse in the country.
“The 1.2 million-SF building, located at 800 Bell, has been empty since the oil company relocated to its new campus about eight years ago,” according to an article published by Realty News Report.
“The buyer, a New York investment group affiliated with CMI Developers, has experience in historic redevelopment and apartment conversions. The tower was completed in 1962. The age and prominence of the Exxon building might enable the developers to obtain tax credits designated for redeveloping historic buildings,” according to the article.
Adaptive reuse has become a hot topic in commercial centers after the Covid-19 pandemic rearranged work and travel schedules, though not every vacant commercial building is ripe for conversion to residential uses, due to a number of regulatory and physical challenges.
More details of the history of the building, as well its future, are included in the source article below.
Read the full story: Exxon Skyscraper Sold for Apartment Conversion
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