one of houston Industrial real estate giant Designed to regenerate a historic East Side property.

Lovett Commercial, led by President Frank Liu, plans to transform 280,000-square-foot Farmer Brothers Company coffee plant at 235 North Norwood Street into an arts and music education campus, Houston Business Journal Report. Liu is also co-owner of Lovett Industrial and revitalized Many high-profile Properties around the city.

In addition to the educational campus, Lovett also plans to turn the roof of the 1938 building into an event space with a bar and possibly add an adjacent multifamily building later.

“All these people have no imagination,” Liu told the outlet. “They said, ‘People don’t go to the East Side.’ But it’s all about leadership. We want to provide a place where we can help foster art and music in an educational way.”

Liu compared the planned redevelopment to Post Houston, which opens in 2021. Lovett transformed the 550,000-square-foot former Barbara Jordan Post Office into a mixed-use space that includes offices, a food court, a park, and space for art exhibits and concerts.

Liu told the press that the new project will be more restrained than Post Houston. He expects construction to start in about 18 months.

Lovett paid $10 million for the six-acre property in 2019. Its current taxable valuation is $13.2 million, according to the Harris Central Appraisal District. After Lovett bought the land, Farmer Brothers entered into a three-year leaseback agreement, paying $50,000 a month in base rent. The North Texas-based foodservice company ceased operations at the facility in 2021.

Lovett’s other notable projects include Sawyer Yards, a cultural arts district with restaurants, a brewery and a fitness area, and the 770,000-square-foot Fairway North logistics park, according to the company’s website.

— Quinn Donoghue

read more

Leave a Reply

Your email address will not be published. Required fields are marked *