Our Client contacted VERTEX to assist in evaluating an opportunity to redevelop a former downtown Houston hotel for affordable housing. The property was constructed in the 1970s as a Holiday Inn Hotel, but changes in the economy and several past failed attempts to redevelop the building resulted in the building being left vacant and interior improvements gutted. The 30-story building is visible from local highways, and the City of Houston was anxious to see the property restored.
A team of VERTEX assessors and engineers reviewed available drawings and engineer’s reports, contacted local agencies, and visited the site to evaluate the existing building structure, available utilities, and the condition of the remaining building systems and/or associated infrastructure. VERTEX’s multi-disciplinary team evaluated these factors to assist our client in considering whether the project was feasible as envisioned.
VERTEX presented its findings to the Client regarding the structure’s condition, potential impediments to construction, cost estimates for various building systems, and opportunities for potential cost savings. In addition, VERTEX provided recommendations for additional assessment to better define some of the challenges facing redevelopment of the property and to assist in the design process.