HFF Arranges Construction Loan for Houston Mixed-Use Project

Lyric Market’s ground-floor retail space will encompass a food hall with chef-driven restaurant concepts, including a bakery, sushi bar, ice cream shop and cocktail bars.

Lyric Market Construction Site
Lyric Market Construction Site

HFF has secured a construction loan for Lyric Market, a to-be-built 31,500-square-foot mixed-use project with approximately 800 parking spaces in downtown Houston. HFF Director Matthew Putterman led the debt placement team, which worked on behalf of the borrower, a private investor. Origin Bank Senior Vice President Joe Cox represented the lender in the transaction.

Lyric Market will replace the 125-space existing surface parking lot adjacent to the Lyric Centre office building. Its ground-floor retail space will encompass a food hall with chef-driven restaurant concepts, including a bakery, sushi bar, ice cream shop and cocktail bars. The market will also feature a plaza with tables and a second-story terrace café. The 10-story parking garage will include LED-lit panels. 

With a Walk Score of 95, the property is located at the southwest corner of Louisiana and Preston Streets. Houston Grand Opera, Jones Hall for the Performing Arts, Market Square Park and Houston Ballet are all nearby. The project is expected to be completed in fall 2018.

In a recent deal, HFF provided a four-year construction loan for Platte Fifteen, a more than 150,000-square-foot mixed-use property located in Denver. 

Photo via Google Street View