The old Post Office at 401 Franklin Street occupies 16 acres of prime real estate near Buffalo Bayou. The land is now likely to be turned into a mixed-use development — combining high-rise office and residential buildings with retail space.
“The Post Office site is a gem,” Ralph Bivins, editor of Realty News Report, says. “It’s a jewel. It’s waiting to happen. It’s going to be the cornerstone of what’s going to make Buffalo Bayou a great place.”
Bivins says that any redevelopment would almost certainly have some tie-in to the wider renovation of the waterfront by the Buffalo Bayou Partnership.
The city had hoped to transform the property into a new police and courts facility. Mayor Annise Parker withdrew the city’s bid earlier this week in the face of stiff opposition from private developers.