The previous building on the property was destroyed by Hurricane Harvey in 2017. The former site of KHOU television was demolished shortly after the storm. Service Corporation International (NYSE: SCI), one of Houston’s largest publicly traded companies, is taking proactive measures to prevent future flooding at their new building.
Service Corporation has been granted a $14 million tax reimbursement for infrastructure improvements and storm resilience efforts. This will allow 900 employees in Houston to relocate to the new headquarters, which is estimated to cost $150 million. Hines, a Houston-based developer, will oversee construction set to begin next year.
SCI is North America’s leading provider of funeral and cemetery services with over 17,589 full-time employees and 7,550 part-time employees companywide.
This article originally appeared on Connect CRE.
