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99-442: Downtown is the largest central business district in the city of Houston and the largest in the state of Texas , located near the geographic center of the metropolitan area at the confluence of Interstate 10 , Interstate 45 , and Interstate 69 . The 1.84-square-mile (4.8 km) district, enclosed by the aforementioned highways, contains the original townsite of Houston at the confluence of Buffalo Bayou and White Oak Bayou ,

198-636: A concrete-paved wharf , designed to replicate the original port; a trail/walkway; a promenade ; and a terrace overlooking Buffalo Bayou . The campus of the University of Houston–Downtown (UHD) straddles Allen's Landing. The university's One Main Building, which is housed in the former Merchants and Manufacturers Building (renovated in the 1980s), is just across the bayou at One Main Street, and UHD's 95,000-square-foot (8,800 m ) Commerce Street Building, which

297-761: A doughnut," and that Downtown Houston began to become a "hole" in the "doughnut." As interchange connections with the 610 Loop opened, according to Barna Downtown "became just another node in a multi-node grid" and, as of 1998, "has been that, with already established high densities and land prices." In the mid-1980s, the bank savings and loan crisis forced many tenants in Downtown Houston buildings to retrench, and some tenants went out of business. Barna said that this development further caused Downtown Houston to decline. The Gulf Hotel fire occurred in 1943. Areas which are now considered part of Downtown were once within Third and

396-674: A newly built business district near the Potsdamer Platz . The city's historic center (home to the Reichstag building , as well as the Brandenburg Gate and most federal ministries) was largely abandoned when the Berlin Wall cut through the area. Only after the reunification with the redevelopment of Potsdamer Platz , and the construction of numerous shopping centers, government ministries, embassies, office buildings and entertainment venues,

495-427: A point known as Allen's Landing . Downtown has been the city's preeminent commercial district since its founding in 1836. Today home to nine Fortune 500 corporations, Downtown contains 50 million square feet (4,600,000 m) of office space and is the workplace of 150,000 employees. Downtown is also a major destination for entertainment and recreation. Nine major performing arts organizations are located within

594-724: A result, Downtown's residential population has increased to 10,165 people in 4,777 units, up from 900 units in the 1995. Many of Downtown's older residential units are located in lofts and converted commercial space, many of which are located around the performance halls of the Houston Theater District and near Main Street in the Historic District. In spring 2009, luxury high-rise One Park Place opened-up with 346 units. In early 2017 Downtown's largest residential building opened when Market Square Tower's 463 units were completed. Developers have invested more than US$ 4 billion in

693-457: A significant political campaign by the Allen brothers. The Allens gifted a number of city blocks to prominent Texas politicians and agreed to construct the new capitol building and a large hotel at no cost to the government. The Allens also donated blocks to celebrities, relatives, prominent lawyers, and other influential people in order to attract additional investment and speculation to the town. During

792-579: A single urban area. The CBD will often be highly accessible and have a large variety and concentration of specialised goods and services compared to other parts of the city. Midtown Manhattan is the largest central business district in New York City and in the United States. In Chicago , the Chicago Loop is the second-largest central business district in the United States. It is also referred to as

891-523: A whole. Singapore's CBD is the historic heart of the city-state, which makes it a mix of a tourist attraction and a business center. The CBD includes several multinational corporate headquarters, Singapore Management University , and historical buildings and museums. As of 2016, the Singaporean government intends to redevelop Jurong East into a second CBD in Singapore. The area has also been earmarked as

990-617: Is Government Hill , the site of the old government headquarters. As the Hong Kong SAR Government Headquarters moved to Tamar, Admiralty, the nearby area is also considered part of the CBD. In Quarry Bay , Taikoo Place and areas nearby, including Admiralty , Wan Chai and Causeway Bay , and Tsim Sha Tsui , Kwun Tong , and Kowloon Bay are regarded as major business districts of Hong Kong. India 's capital New Delhi has been known for its CBD at Connaught Place . For

1089-429: Is Houston's single largest office market, containing 50 million square feet (4,600,000 m) of space. A premium submarket, Downtown commands the highest office rental rates in the city and was one of the ten most expensive office markets in the United States in 2016. Louisiana Street, which runs through the heart of the district, is one of the fifteen most expensive streets in the United States. 3,500 businesses in

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1188-691: Is a 1,178-acre (1.841 sq mi) area bounded by Interstate 45 , Interstate 69 / U.S. Highway 59 , and Interstate 10 / U.S. Highway 90 . Several sub-districts exist within Downtown, including: Downtown Houston encompasses the original townsite of Houston. After the Texas Revolution , two New York real estate investors, John Kirby Allen and Augustus Chapman Allen , purchased 6,642 acres (2,688 ha) of land from Thomas F.L. Parrot and his wife, Elizabeth ( John Austin 's widow), for US$ 9,428 (equivalent to $ 261,584 in 2023). The Allen brothers settled at

1287-901: Is a concentration of business in Botafogo harbor and in Barra da Tijuca , a newer Rio de Janeiro suburb located in city's west region. The largest CBD in Colombia is Bogotá 's Centro Internacional , where some of the tallest buildings in South America have been repurposed as national headquarters for Scotiabank Colpatria , Davivienda , and Bancolombia , among others. Over the years, Bogotá has developed minor business districts, which include Avenida Chile , Ciudad Salitre , with companies like Avianca , Rappi , Johnson & Johnson , Terpel , Hilton , Hyatt , Marriott , Sheraton , Ramada , City Express , Aloft and Novotel ; or Complejo Santa Bárbara ,

1386-530: Is also one of the most important business districts of Pakistan. Gulberg, Lahore has a large number of important office buildings as well as many high-rises and shopping malls. Pakistan established its first central business district, Lahore Central Business District, also known as Central Business District Punjab (CBD Punjab) by an ACT of Parliament (LCBDDA Act, 2021) in February 2021. Jinnah Avenue in Islamabad

1485-472: Is at the confluence of White Oak Bayou and Buffalo Bayou and serves as a natural turning basin . A dock was quickly opened on the site, and the steamer Laura was the first ship to anchor at the landing on January 26, 1837. The landing was officially named a port in 1841—the original Port of Houston . In 1910, the United States government approved funding for the dredging of a ship channel from

1584-433: Is the commercial and business center of a city. It contains commercial space and offices, and in larger cities will often be described as a financial district . Geographically, it often coincides with the " city centre " or " downtown ". However, these concepts are not necessarily synonymous: many cities have a central business district located away from its traditional city center, and there may be multiple CBDs within

1683-660: Is the first of its kind in Indonesia, and one of the largest commercial center developments in the city. Jakarta started developing its business district in the early 1960s before hosting the Asian Games in 1962 . Surabaya in East Java built its first central business district in the Darmo region. The construction was expected to be completed by 2018 with 150 SOHO units and 500 residences. In Italy , business districts do not coincide with

1782-466: Is the main business district of the city. Blue Area is the central business district of Islamabad . D Ground is the central business district of Faisalabad and Saddar is the main central business district of Rawalpindi . In Peru , the central business district is San Isidro , in Lima , which hosts the majority of Peru's financial industry headquarters. Although still a largely residential district,

1881-654: The Bank of the Southwest Tower . In the 19th century much of what was the Third Ward , the present day east side of Downtown Houston, was what Stephen Fox, an architectural historian who lectured at Rice University , referred to as "the elite neighborhood of late 19th-century Houston." Ralph Bivins of the Houston Chronicle wrote that Fox said that area was "a silk-stocking neighborhood of Victorian-era homes." Bivins said that

1980-647: The COEX mall, are major thoroughfares in Seoul. The tallest buildings in Gangnam include Tower Palace One , a residential complex, Trade Tower , Gangnam Finance Center, and Parnas Tower. Seoul's third business district is Yeouido , an island located in central Seoul in the Yeongdeungpo District . Yeouido was developed in the 1970s; since the 1990s, however, it has become Seoul's financial center. Smaller in geographic size that

2079-519: The COVID-19 pandemic in Texas . By 2022 many offices had split shifts to where workers only went to offices for some days of the week. By 2022 activity at hotel and entertainment establishments recovered. In May 2024, a derecho struck the downtown Houston causing damage. In the 1960s, downtown comprised a modest collection of mid-rise office structures, but has since grown into one of the largest skylines in

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2178-565: The Fourth wards; the construction of Interstate 45 in the 1950s separated the areas from their former communities and placed them in Downtown. Additional freeway construction in the 1960s and 1970s solidified the current boundaries of Downtown. Originally, Downtown was the most important retail area of Houston. Suburban retail construction in the 1970s and 1980s reduced Downtown's importance in terms of retail activity. From 1971 to 2018, about 40 downtown buildings and other properties have been listed on

2277-464: The George R. Brown Convention Center , anchors the city's convention district. Downtown is Houston's civic center, containing Houston City Hall , the jails , criminal, and civil courthouses of Harris County , and a federal prison and courthouse. Downtown is also a major public transportation hub, lying at the center of the light rail system , park and ride system, and the metropolitan freeway network;

2376-550: The Gulf of Mexico to the present turning basin four miles (6 km) to the east of Allen's Landing. In the late 1960s, Allen's Landing was home to the city's premiere psychedelic nightclub , Love Street Light Circus Feel Good Machine ("Love Street"), where bands with names like Bubble Puppy , Neurotic Sheep and American Blues performed mind-expanding music accented with strobe lights and pastel projections. The historic Sunset Coffee Building on Commerce at Main Street, which housed

2475-570: The Harris County Navigation District. In addition, a marker was placed at the park to indicate where, in 1837, townspeople erected a liberty pole to commemorate Sam Houston 's victory over Santa Anna at the Battle of San Jacinto the previous year. For a brief period in the 1990s, Allen's Landing was once again the docking site for the Laura, a sightseeing boat that was a namesake of

2574-490: The Metropolitan Transit Authority of Harris County (METRO) is headquartered in the district. Over 100,000 people commute through Downtown daily. An extensive network of pedestrian tunnels and skywalks connects a large number of buildings in the district; this system also serves as a subterranean mall. Geographically, Downtown is bordered by East Downtown to the east, Third Ward to the south, Midtown to

2673-463: The Republic of Texas won its independence from Mexico , two New York real estate developers, John Kirby Allen and Augustus Chapman Allen , purchased 6,642 acres (26.88 km ) of coastal prairie and settled the town of Houston on the banks of Buffalo Bayou. The present-day landing area was advertised as the head of navigation of the bayou and served as the city's first wharf . Allen's Landing

2772-485: The "new" Main Street, a plaza with many eateries, bars and nightclubs, which brings many visitors to a newly renovated locale. Phoenicia Specialty Foods opened a downtown grocery store in 2011, located in One Park Place . In June 2019 Dianna Wray of Houstonia wrote that Downtown Houston had an increased amount of pedestrian traffic and residents compared to the post- oil bust 1980s. Office traffic declined during

2871-640: The 13,000-seat Theater District at prominent venues including Alley Theatre , Hobby Center for the Performing Arts , Jones Hall , and the Wortham Theater Center . Two major professional sports venues, Minute Maid Park and the Toyota Center , are home to the Houston Astros and Houston Rockets , respectively. Discovery Green , an urban park located on the east side of the district adjacent to

2970-467: The 1890s, new, larger local streetcar companies finally accumulated the capital necessary to begin constructing streetcar suburbs beyond the conventional boundaries of the city. This led to the development and rapid growth of areas like the Houston Heights and Montrose . Residential development subsequently moved out of the central business district; Quality Hill was virtually abandoned by the turn of

3069-525: The 1950s separated portions of the historic Third Ward from the rest of the Third Ward and brought those portions into Downtown. Beginning in the 1960s the development of the 610 Loop caused the focus of the Houston area to move away from Downtown Houston. Joel Barna of Cite 42 said that this caused Greater Houston to shift from "a fragmenting but still centrally focused spatial entity into something more like

Downtown Houston - Misplaced Pages Continue

3168-480: The 19th century vessel. The name Allen’s Landing is a 20th-century creation not found in any historical document. According to a 2008 Houston Chronicle article, the name was the invention of the Houston Chamber of Commerce . Charlie Lansden, longtime director of the chamber's Community Betterment Division, made this claim to Janet Wagner, a local historian. The name appears in a mural of Houston commissioned by

3267-460: The 20th century. Downtown's growth can be attributed to two major factors: The first arose after the Galveston Hurricane of 1900 , when investors began seeking a location close to the ports of Southwest Texas, but apparently free of the dangerous hurricanes that frequently struck Galveston and other port cities. Houston became a wise choice, as only the most powerful storms were able to reach

3366-403: The 23rd tallest skyscraper in the world. In 1983, the 71-floor, 296 m (971 ft) Wells Fargo Plaza was completed, which became the second-tallest building in Houston and Texas, and 11th-tallest in the country. Skyscraper construction in downtown Houston came to an end in the mid-1980s with the collapse of Houston's energy industry and the resulting economic recession. Twelve years later,

3465-671: The 555-metre tall Lotte World Tower , Guro Digital Complex, Gasan Digital Complex, the Magok Business District, the Sangam Digital Media City, the Munjeong Administrative Town, and Mapo Avenue. The area near Yongsan Station , including the proposed Yongsan International Business District , is considered an emerging major commercial district that will exist in synergy with nearby Yeouido . Allen%27s Landing In August 1836, just months after

3564-525: The Allens failed to accommodate transit, water service, sewerage, road paving, trash service, or gas service in their plans. As a result, in 1839 the Texas Capitol was moved to Austin . In 1840, Houston adopted a ward system of municipal governance, which, at the time, was considered more democratic than a strong-mayor system and had already been adopted by the United States' largest cities. The boundaries of

3663-566: The CBD. An example is Parramatta , which is considered the financial hub of Western Sydney . São Paulo is a multipolar city, with several business districts. Avenida Faria Lima and the neighboring districts, Itaim Bibi and Vila Olímpia , now concentrate a large part of the financial activities in São Paulo and Brazil . Avenida Paulista and nearby streets is a well-established financial center that has several banking offices and corporate headquarters, as well as hospitals. Its Historic Center

3762-716: The Continental Center complex; the airline scheduled to move its employees in stages beginning in July 1998 and ending in January 1999. Bob Lanier , Mayor of Houston , said that he was "tickled to death" by the airline's move to relocate to Downtown Houston. Tim Reylea, the vice president of Cushman Realty, said that the Continental move "is probably the largest corporate relocation in the central business district of Houston ever." Hotel operators in Downtown reacted favorably, predicting that

3861-887: The Downtown Super Neighborhood #61, which includes Downtown and East Downtown , had 12,879 people. 34% were non-Hispanic White, 28% were Hispanic, 32% were non-Hispanic Black, 4% were non-Hispanic Asians, and 2% were non-Hispanic people of other racial identities. In 2015 there were 12,407 residents. 33% were non-Hispanic White, 32% were non-Hispanic Black, 29% were Hispanic, 5% were non-Hispanic Asian, and 1% were non-Hispanics of other racial identities. In 2000 there were 12,407 residents. 5,083 (41%) were non-Hispanic Black, 4,225 (34%) were non-Hispanic White, 2,872 (23%) were Hispanic, 156 (1%) were non-Hispanic Asians, 56 were of two or more races, 11 were non-Hispanic American Indian, and two each were non-Hispanic Native Hawaiian and non-Hispanic people of other racial identities. Downtown

3960-486: The Houston Club in 1955 and painted by artist David Adickes . After years of neglect and deterioration, Allen’s Landing, as part of Houston's Waterfront District, has undergone major revitalization and rejuvenation, much like the rest of historic downtown Houston. The first phase of the Allen's Landing revitalization project was completed in 2001. Special features of the park, located at 1001 Commerce Street, now include:

4059-578: The Houston-based Enron Corporation began constructing a 40-floor, 1,284,013sq.ft skyscraper in 1999 (which was completed in 2002) with the company collapsing in one of the most dramatic corporate failures in the history of the United States only two years later. Chevron bought this building to set up a regional upstream energy headquarters, and in late 2006 announced further consolidation of employees downtown from satellite suburban buildings, and even California and Louisiana offices by leasing

Downtown Houston - Misplaced Pages Continue

4158-544: The National Register of Historic Places . The onset of the 1980s oil glut had devastating economic consequences for Downtown. In the mid-1980s, a bank savings and loan crisis forced many tenants in Downtown Houston buildings to retrench, and some went out of business. This development further caused Downtown Houston to decline. In 1986, Downtown's Class A office occupancy rate was 81.4%. The Downtown Houston business occupancy rate of all office space increased from 75.8% at

4257-818: The Philippines. In Poland , the terms śródmieście or centrum are often used to describe the central business district. The largest central business district in Russia is the Moscow International Business Center (MIBC) in Moscow , a commercial development located just east of the Third Ring Road at the western edge of the Presnensky District in the Central Administrative Okrug of

4356-442: The United States. In 1960, the central business district had 10 million square feet (930,000 m) of office space, increasing to about 16 million square feet (1,500,000 m) in 1970. Downtown Houston was on the threshold of a boom in 1970 with 8.7 million square feet (800,000 m) of office space planned or under construction and huge projects being launched by real estate developers . The largest proposed development

4455-634: The central business district. Station 8 is in Fire District 8. The fire station "Washington #8" first opened in 1895 at Polk at Crawford. The station was closed in 2001 after a sports arena was built on the site. Fire Station 1, which was located at 410 Bagby Street, closed in 2001, as it was merged with Station 8. Station 8, relocated to a temporary building at the corner of Milam and St. Joseph, reopened in June 2001. The current "Super Station" at 1919 Louisiana opened on April 21, 2008. "Stonewall #3," organized in 1867,

4554-560: The central business district. These terms can be literally translated as " inner city " and "city center". Some of the larger cities have more than one central business district. For example, Berlin alone has three. Due to Berlin's history of division during the Cold War , the city contains central business districts both in West ( Kurfürstendamm ) and in East Berlin ( Alexanderplatz ), as well as

4653-527: The city switched to a commission government and the wards, as political entities, were dissolved. Houston grew steadily throughout the late 19th century, and the neighborhoods within the boundaries of modern Downtown diversified. To the northeast, around present-day Minute Maid Park , Quality Hill emerged as an elite neighborhood, occupied by entrepreneurs like William Marsh Rice (namesake of Rice University ), William J. Hutchins , and William L. Foley (namesake of Foley's department stores). The neighborhood

4752-588: The city's CBD. In South Korea , the national capital of Seoul includes three central business districts. The Downtown Seoul , a historic area inside the Fortress Wall of Seoul in the Jongno and Jung districts has historically been the city's political, social and cultural heart, and still houses many corporate headquarters and political institutions in South Korea. It is also the most popular area for tourists and

4851-463: The city's history. Cities with strong preservation laws and maximum building height restrictions to retain the character of the historic and cultural core may have a CBD quite a distance from the city centre (and in some cases, outside the city limits itself). This distinction is quite common in European cities such as Paris , Moscow , Vienna , Prague and Budapest . The New World grew quickly after

4950-644: The city's main commercial district. While the district has a high density of high rise buildings, the tallest building, the SK Building, only reaches a height of 160m due to historic preservation regulations. The second main district, located in the southeast part of Seoul, is Gangnam District , an area that was developed in the 1980s and is now among the city's most affluent neighborhoods. The Gangnam District has concentration mainly in economic power of Seoul, as many of prominent company HQs are located on Teheran Avenue . Gangnam Avenue and Yeondong Avenue, which includes

5049-690: The city. As of 2021, it is still under development. The construction of the MIBC takes place on the Presnenskaya Embankment of the Moskva River , approximately 4 kilometers (2.5 mi) west of Red Square , overlooked by the Third Ring Road. The project occupies an area of 60 hectares. The second-largest central business district is Yekaterinburg-City in Yekaterinburg , the fourth-largest city in

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5148-444: The city. The second came a year later with the 1901 discovery of oil at Spindletop , just south of Beaumont, Texas . Shipping and oil industries began flocking to east Texas, many settling in Houston. From that point forward the area grew substantially, as many skyscrapers were constructed, including the city's tallest buildings. In the 1980s, however, economic recession canceled some projects and caused others to be scaled back, such as

5247-515: The commercial and business activity located in or in the vicinity of the area. It has a permanent population of around 63,000 inhabitants and, during weekday business hours, a floating population that exceeds 700,000 daily commuters from other districts in Lima , the national capital. San Isidro is served by three stations of El Metropolitano , Lima's bus rapid transit system: Estación Javier Prado , Estación Canaval y Moreyra (with over 16,000 daily passengers) and Estación Aramburú . In

5346-400: The confluence of White Oak and Buffalo bayous, a spot now known as Allen's Landing . A team of three surveyors, including Gail Borden, Jr. (best known for inventing condensed milk ) and Moses Lapham , platted a 62-square-block townsite in the fall of 1836, each block approximately 250 by 250 feet, or 62,500 square feet (5,810 m) in size. The grid plan was designed to conform to

5445-421: The construction of Union Station, which occurred around 1910, caused the "residential character" of the area to "deteriorate." Hotels opened in the area to service travelers. Afterwards, according to Bivins, the area "began a long downward slide toward the skid row of the 1990s" and the hotels devolved into flophouses . Passenger trains stopped going to Union Station in 1974. The construction of Interstate 45 in

5544-483: The core of the city's downtown. Mexico City also has its own historic city center , the colonial era "Centro Histórico", along with two CBDs: the mid-late 20th century Paseo de la Reforma in Polanco , and the new Santa Fe , respectively. Russia 's largest central business district is the Moscow International Business Center in Moscow . The shape and type of a central business district almost always closely reflect

5643-637: The country. It is located on the Iset River , and is under development as of 2021. The area occupies five hectares. Saudi Arabia has several business districts, including: In Singapore , the CBD is in the Downtown Core , one of the constituent planning areas of the Central Area , the country's city center . Its densest point is centered around Raffles Place , where most of Singapore's skyscrapers are located. The CBD sometimes also describes Central Area as

5742-588: The district employ approximately 150,000 workers. Major employers include Chevron , JPMorgan Chase , and United Airlines . Downtown Houston has between 35% and 40% of the Class A office locations of the business districts in Houston. Firms which are headquartered in Downtown include: Continental Airlines (now known as United Airlines ) formerly had its headquarters in Continental Center I . At one point, ExpressJet Airlines had its headquarters in Continental's complex. In September 1997 Continental Airlines announced it would consolidate its Houston headquarters in

5841-404: The early 21st century, the southeastern district of Surco experienced a significant increase in upscale corporate developments in the area comprised by avenues Manuel Holguín, El Derby, El Polo, and La Encalada due to lower restrictions to grant construction permit and proximity to residential middle and upper class districts and is set to become, after traditional San Isidro and Miraflores ,

5940-452: The emergence of modern transport, therefore a single centre often included many of the region's tallest buildings and served as both a commercial and cultural city centre. In the 21st century, increasing urbanisation has led to the development of megacities that often have multiple CBDs scattered across the urban area. Downtown sections of cities, especially in North America , often are distinct from CBDs and city centres. No two CBDs have

6039-530: The end of 1987 to 77.2% at the end of 1988. By the late 1980s, 35% of Downtown Houston's land area consisted of surface parking. In the early 1990s Downtown Houston still had more than 20% vacant office space. By 1987 many of the office buildings in Downtown Houston were owned by non-U.S. real estate figures. Downtown began to rebound from the oil crisis by the mid-1990s. A dozen companies relocated to Downtown in 1996 alone, bringing 2,800 jobs and filling 670,000 square feet (62,000 m) of space. In 1997 Tim Reylea,

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6138-406: The extended area of Gomti Nagar , and Aminabad in old Lucknow. Kolkata also has central business districts, including B.B.D. Bagh , Park Circus , Esplanade , Salt Lake Sector V , and New Town . The largest CBD in Indonesia is the Golden Triangle ( Segitiga Emas in Indonesian ) in Jakarta . Sudirman Central Business District , a super block that is located within the Golden Triangle,

6237-404: The fall of Enron, caused the occupancy rate of Downtown Houston buildings to decrease to 84.1% in 2003 from 97.3% less than two years previously. In 2003, the types of firms with operations in Downtown Houston typically were accounting firms, energy firms, and law firms. Typically newer buildings had higher occupancy rates than older buildings. In 2004, the real estate firm Cresa Partners stated that

6336-496: The financial capital of the country, the famous CBD is The Bandra Kurla Complex in Mumbai . In Mumbai itself there is Nariman Point , which is another CBD including Andheri and Parel . Parry's Corner and Nungambakkam are among the main CBDs of Chennai . Bangalore has five notable business districts: UB City , Brigade Gateway, Koramangala , Indiranagar , and Electronic City . Lucknow has three business districts, including Hazratganj Market , Gomti Nagar Extension at

6435-406: The first decade of the 21st century to transform Downtown into an active city center with residential housing, a nightlife scene and new transportation. The Cotswold Project, a $ 62 million project started in 1998, has helped to rebuild the streets and transform 90 downtown blocks into a pedestrian-friendly environment by adding greenery, trees and public art. January 1, 2004, marked the opening of

6534-404: The fourth in the world. La Défense hosts 19 of the world's biggest 500 companies , whilst the Paris region as a whole hosts 29 of the world's 500 largest companies, establishing itself as the first city in Europe (and the third worldwide) for the number of companies classified in Fortune Fortune Global 500 . In Germany , the terms Innenstadt and Stadtzentrum may be used to describe

6633-421: The geographical centers of the city because the city center is the historical center of the city, and usually not very suitable to function as a modern business district. A precursor to modern business districts is EUR in Rome , which is now home to several national and international companies and public bodies. The EUR, the Napoli business district , the Milan business district , and City Life , are among

6732-477: The headquarters moved out, but Continental will continue to house employees in the building. It will have about half of the employees that it once had. JPMorgan Chase Bank has its Houston operations headquartered in the JPMorgan Chase Building (Gulf Building). LyondellBasell has offices in the LyondellBasell Towers formerly known as 1 Houston Center . Hess Corporation has exploration and production operations in One Allen Center ., but will move its offices to

6831-403: The last of which features the only W Hotel in the city. Colombia's other notable CBDs include Parque Berrío in Medellín , Bocagrande in Cartagena (the largest touristic CBD in the country), and Paseo de Bolívar in Barranquilla . La Défense , west of Paris , is France 's largest central business district. La Défense was in 2017 ranked as the leading CBD in continental Europe, and

6930-446: The late 1830s and early 1840s, Houston was in the midst of a land boom , and lots were selling at "enormous prices," according to a visitor to the town in 1837. Despite the efforts of the Allen brothers and high economic interest in the town, first few years of Houston's existence were plagued by yellow fever epidemics, flooding, searing heat, inadequate infrastructure, and crime. Houston suffered from woefully inadequate city services;

7029-399: The master planning of Bonifacio Global City. Ortigas Center (fourth), with an area of more than 100 hectares (250 acres), is the Philippines' second most important business district after the Makati CBD and is home to Asian Development Bank. Meanwhile, the Makati Central Business District (third), also known as the Makati CBD, is the leading financial and the largest central business district in

7128-568: The most important commercial areas in Italy. Other important business and financial centers are present in Genoa and Brescia . In Pakistan, a central business district or a large, concentrated urban setting within a settlement is called a shehar . Karachi is Pakistan's largest city and the country's economic hub; the I. I. Chundrigar Road acts as Karachi's main financial district. Shahra-e-Faisal in Karachi

7227-409: The move would cause an increase in occupancy rates in their hotels. In 2008 Continental renewed its lease in the building. Before the lease renewal, rumors spread stating that the airline would relocate its headquarters to office space outside of Downtown. Steven Biegel, the senior vice president of Studley Inc. and a representative of office building tenants, said that if Continental's space went vacant,

7326-473: The new financial center of Lima . The Philippines has three major central business districts, which are all located in Metro Manila. Bonifacio Global City (second) is the newest and one of the largest central business districts in the Philippines. The Bases Conversion and Development Authority (BCDA), Ayala Land, Inc. and Evergreen Holdings, Inc. controls Fort Bonifacio Development Corporation, which oversees

7425-734: The new BG place at 811 Main St. Mayer Brown has his Houston office in the Bank of America Center . When Texas Commerce Bank existed, its headquarters were in what is now the JPMorgan Chase Building (Gulf Building). Prior to its collapse in 2001, Enron was headquartered in Downtown. In 2005 Federated Department Stores announced that it will close Foley's 1,200 employee headquarters in Downtown Houston. Houston Industries (HI, later Reliant Energy) and subsidiary Houston Power & Lighting (HL&P) historically had their headquarters in Downtown. Halliburton 's corporate headquarters office

7524-512: The nightclub on its third floor, is still standing. Love Street's last show was on July 7, 1980. Once the focal point of downtown Houston , a small historical park was dedicated at the site in 1967. The Southern Pacific Railroad donated 4,000 square feet (370 m ) of land to the park project, which was to be developed and maintained by the Houston Chamber of Commerce , the City of Houston, and

7623-571: The original Enron building across the street. Both buildings are connected by a second-floor unique walk-across, air-conditioned circular skybridge with three points of connection to both office buildings and a large parking deck. Other smaller office structures were built in the 2000–2003 period. As of January 2015, downtown Houston had more than 44 million square feet (4,087,733 m) of office space, including more than 29 million square feet (1,861,704 m) of class A office space. Notable buildings that form Houston's downtown skyline: In 2017

7722-663: The original four wards of Houston radiated out from the intersection of Main and Congress streets; the First Ward was located to the northwest, Second to the northeast, Third to the southeast, and Fourth to the southwest. Fifth Ward was created in 1866, encompassing the area north of Buffalo Bayou and east of White Oak Bayou; Sixth Ward, the final addition to the system, replaced the section of Fourth Ward north of Buffalo Bayou in 1877. The ward system, which featured elected aldermen who served as representatives of each neighborhood, remained Houston's form of municipal government until 1905, when

7821-510: The other two business districts, Yeouido has some of Seoul's tallest skyscrapers, including Parc1 Tower , International Finance Center Seoul , and the 63 Building . Yeouido is where the National Assembly of South Korea and many media companies and political institutions are based. Smaller but notable central business districts in South Korea include the Jamsil area, which is the location of

7920-514: The present-day Downtown area. One of the first systems, the Houston City Street Railway, opened in 1874 with four lines along the principal commercial thoroughfares in the heart of the business district. While generally focused on the most prosperous areas of town, the Houston City Street Railway extended one line a full mile south of the center of the city, making it the first streetcar network designed to spur residential development. By

8019-441: The same spatial shape, but there are certain common geometric patterns, which are largely a result of centralised commercial and industrial activities. In Australia , the term CBD is widely used officially and colloquially, in the sense of city centre. The two biggest cities, Melbourne and Sydney , have large CBDs. Sydney features growing micro central business districts, which serve as the hub for their respective areas outside

8118-530: The site of the rail terminus for the Kuala Lumpur–Singapore High Speed Rail . South Africa 's largest cities, Cape Town , Durban , Johannesburg , Pretoria , and Port Elizabeth , have CBDs that include the corporate headquarters for many of South Africa's largest companies, its convention centers , and many of the country's tallest buildings. Cape Town has one of South Africa's most iconic skyline (which includes Table Mountain ) and

8217-419: The southwest, Fourth Ward to the west, Sixth Ward to the northwest, and Near Northside to the north. The district's streets form a strict grid plan of approximately 400 square blocks, oriented at a southwest to northeast angle. The northern end of the district is crossed by Buffalo Bayou, the banks of which function as a linear park with a grade-separated system of hike-and-bike trails. Downtown Houston

8316-610: The station moved to Spring Branch . Station 2 moved from what is now the East End to what is now Downtown in 1926. The station moved to the Fourth Ward in 1965. The Houston Downtown Management District and Central Houston, Inc. is headquartered in Suite 1650 at 2 Houston Center, a part of the Houston Center complex. Central business district A central business district ( CBD )

8415-661: The two districts. Houston City Hall , the Margaret Helfrich Westerman Houston City Hall Annex, and the Bob Lanier Public Works Building are all located in Downtown Houston. The community is within the Houston Police Department 's Downtown Division. The Edward A. Thomas Building, headquarters of HPD, is located in 1200 Travis Downtown. Houston Fire Department Station 8 Downtown at 1919 Louisiana Street serves

8514-638: The under construction Hess Tower (Named after the company) upon its completion. ExxonMobil has Exploration and Producing Operations business headquarters at the ExxonMobil Building . Qatar Airways operates an office within Two Allen Center ; it also has a storefront in the Houston Pavilions . Enbridge has its Houston office in the Enterprise Plaza . KPMG has their Houston offices in

8613-638: The vacancy rate in Downtown Houston's Class A office space was almost 20%. The Texas Legislature established the Downtown Houston Management District in 1995. Circa/after the 1990s, Downtown has experienced a boom in high-rise residential construction, spurred in large part by the Downtown Living Initiative (DLI), a tax incentive program created by the city. Between 2013 and 2015, the DLI subsidized 5,000 proposed residential units. As

8712-504: The vacancy would not have had a significant impact in the Downtown Houston submarket as there is not an abundance of available space, and the empty property would be likely that another potential tenant would occupy it. Jennifer Dawson of the Houston Business Journal said that if Continental Airlines left Continental Center I, the development of Brookfield Properties's new office tower would have been delayed. As of September 2011

8811-582: The vice president of Cushman Realty, said that "None of the major central business districts across the country has seen the suburban-to-downtown shift that Houston has." Circa 2000 the Ballpark at Union Station/Enron Field, now Minute Maid Park , opened, Houston Downtown Management District president Bob Eury stated that this promoted subsequent development in Downtown. By 2000, demand for Downtown office space increased, and construction of office buildings resumed. The cutbacks by firms such as Dynegy , in addition to

8910-518: The winding route of Buffalo Bayou; east–west streets were aligned at an angle of north 55º west, while north–south streets were at an angle of south 35º west. Each block was subdivided into 12 lots – five 50-by-100-foot lots on each side of the block, and two 50-by-125-foot lots between the rows of five. The Allen brothers, motivated by their vision for urban civic life, specified wide streets to easily accommodate commercial traffic and reserved blocks for schools, churches, and civic institutions. The townsite

9009-519: Was completed in May 2005, sits adjacent to the park at Main Street and Commerce. Since 2001, in a celebration of Houston's Asian American community, the Texas Dragon Boat Association has held an annual spring festival at Allen's Landing, where teams of paddlers race dragon boats throughout the day and enjoy colorful entertainment, as well as some Asian cultural and cuisine . In addition,

9108-770: Was in 5 Houston Center . In 2001, Halliburton canceled a move to redevelop land in Westchase to house employees; real estate figures associated with Downtown Houston approved of the news. Nancy Sarnoff of the Houston Business Journal said it made more sense for the company to lease existing space instead of constructing new office space in times of economic downturns. By 2009 Halliburton closed its Downtown Office, moved its headquarters to northern Houston, and consolidated operations at its northern Houston and Westchase facilities. Two city council districts, District H and District I, cover portions of Downtown. As of 2015 Mayor Pro-Tem Ed Gonzalez and Robert Gallegos, respectively, represent

9207-541: Was located in the current location of the Post Rice Lofts . It 1895 it moved to a location along Preston Street, between Smith and Louisiana, in what is now Downtown. The station, currently Station #3, moved outside of the current day Downtown in 1903. Fire Station 5, originally in what was then the Fifth Ward , moved to Hardy and Nance in what is now Downtown in 1895. The station was rebuilt at that site in 1932, and in 1977

9306-533: Was the 32-block Houston Center . Only a small part of the original proposal was ultimately constructed, however. Other large projects included the Cullen Center, Allen Center, and towers for Shell Oil Company . The surge of skyscrapers mirrored the skyscraper booms in other cities, such as Los Angeles and Dallas . Houston experienced another downtown construction spurt in the 1970s with the energy industry boom. The first major skyscraper to be constructed in Houston

9405-467: Was the 50-floor, 218 m (715 ft) One Shell Plaza in 1971. A succession of skyscrapers were built throughout the 1970s, culminating with Houston's tallest skyscraper, the 75-floor, 305 m (1,001 ft) JPMorgan Chase Tower (formerly the Texas Commerce Tower), which was completed in 1982. In 2002, it was the tallest structure in Texas, ninth-tallest building in the United States, and

9504-582: Was the area revived. In Frankfurt am Main 's city center, there is a business district called the " Bankenviertel ". In Düsseldorf , there is a business district which is located around the famous high street Königsallee with banks, shops and offices. Traditionally, the Central Business District "CBD" of Hong Kong is Central , where many multinational financial services corporations have their headquarters. Consulates general and consulates of many countries are also located in this area, as

9603-507: Was the city's first business center; There, the São Paulo Stock Exchange is located. The region comprising Avenidas Berrini, Doutor Chucri Zaidan, and Nações Unidas, the city's newest commercial district, has offices of multinational companies and also commercial services. In Rio de Janeiro , Brazil's second-largest city, the main business district still is in downtown, where Petrobrás and Vale headquarters are located, but there

9702-482: Was then cleared and drained by a team of Mexican prisoners and black slaves . By April 1837, Houston featured a dock, commercial district, the capitol building of the Republic of Texas , and an estimated population of 1,500. The first city hall was sited at present-day Market Square Park in 1841; this block also served as the city's preeminent retail market. The relocation of the Texan republic's capital to Houston required

9801-518: Was well known for its opulent residential architecture, often in the Greek Revival style. To the north, along a bend in Buffalo Bayou, the working-class neighborhood of Frost Town welcomed immigrants from Europe and Mexico during the late 19th and early 20th centuries. Prior to the arrival of the first streetcars in Houston in the 1870s, most development in the city had been centered in and around

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