This Week's Houston Deal Sheet: Rothko Chapel Breaks Ground On Phase 2 Of $42M Expansion

The Rothko Chapel broke ground Wednesday on Phase 2 of its Opening Spaces campus plan, a $42M, multiyear restoration and expansion campaign. 

Phase 2 is divided into two subphases, one that will construct a new 6.6K SF administration and archives building and the Kathleen and Chuck Mullenweg Meditation Garden. The other phase will include a new program center, a guest bungalow to provide housing for chapel speakers and fellows, and a tree-shaded plaza, all on the chapel’s north campus. 

The expanded north campus is connected to the chapel across Sul Ross Street and should be completed in 2026.

Garfield Public/Private is working as the owner’s representative on the project, along with New York City-based Architecture Research Office, Nelson Byrd Woltz Landscape Architects, lighting designer George Sexton Associates, and the Linbeck Group, which will oversee construction. 

The chapel was founded in 1971 by artist Mark Rothko and philanthropists and art collectors John and Dominique de Menil. It has been listed on the National Register of Historic Places since 2001 and is defined by its 14 monumental Rothko panels, which invite spiritual reflection and engagement inclusive of diverse backgrounds. The chapel welcomes more than 100,000 visitors from more than 100 countries each year.

The Opening Spaces campus development project was initiated in 2016. It focuses on the need to address increasing interest in and visits to the chapel as well as expanding its public programming and community engagement.

PEOPLE

SVN | J. Beard Real Estate – Greater Houston hired Marshall Davidson as chief investment officer to its commercial real estate team. 

As a designated Specialist in Industrial and Office Markets and a Certified Commercial Investment Member, Davidson leverages over 25 years of experience in real estate strategy, acquisitions and development.

In his new role, Davidson will oversee the investment group, source investment opportunities and establish and maintain an acquisitions team.

LEASES

Fort Capital renewed a 14.4K SF lease at Fairway Park Business Center at 2523 Fairway Park Drive in Houston. The landlord, Fort Capital, was represented in-house by Thomas Pfeifer, while the tenant was represented by Patrick Rollins of CBRE.

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Rimkus Consulting Group, an engineering and technical consulting firm, signed a long-term lease of 50.3K SF at 12140 Wickchester Lane in Houston, also known as Woodbranch Plaza III. 

Avison Young’s Wade Bowlin and Marti Grizzle represented the landlord, Stena Realty Group. Fritsche Anderson Realty Partners’ Anthony Fritsche and David Anderson represented Rimkus. 

Woodbranch Plaza III is a 92% occupied building in the Energy Corridor. It was built in 2015. Woodbranch Plaza has four buildings that total 550.5K SF. 

FINANCING

Lone Star PACE facilitated an $11.3M commercial property assessed clean energy loan for a 17-story, dual-branded hotel planned for Downtown Houston. The 275-room Holiday Inn Express/Staybridge Suites will replace a 20K SF parking lot at 1319 Texas Ave. The hotel will have 2,000 SF of ground-level retail.

Lone Star PACE worked with the project’s sponsor, Neway Hospitality, to secure the loan. It will fund more sustainable upgrades, including improvements to the building’s envelope, electrical and mechanical systems.

C-PACE is a low-cost, long-term financing mechanism that funds up to 100% of energy efficiency, renewable energy and water conservation upgrades.

CONSTRUCTION & DEVELOPMENT

McGrath Real Estate Partners announced its latest multifamily development, Adora at Rosehill, is now open. The 15.4-acre community has 336 units, some with private patios and fenced lawns. Floor plans range from one-bedroom/one-bath to three-bedroom/two-bath and from 599 SF to 1,393 SF. 

Amenities include a clubhouse and business center, pool and cabanas, pickleball courts, a firepit and lounge area, a dog park and pet wash station, valet trash service, and options for reserved parking or detached garages. 

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D.R. Horton is planning to develop Silverthorne, a 1,341-acre community at FM 1484 and Wally Wilkerson Parkway in Conroe. Plans include 271 homesites in the community’s first phase and eventually about 3,500 homes. 

D.R. Horton plans to begin work on their model home park next month with home sales expected to begin after the models open this summer. The first phase includes 50-, 60- and 70-foot homesites.

CORRECTION, APRIL 26, 10:58 A.M. CT: An earlier version of this story had the incorrect landlord for Woodbranch Plaza III. Stena Realty Group owns the property.