SCI to new build new headquarters in Houston

January 10, 2024/Business/

We learned from this article in the Houston Chronicle that Service Corporation International (SCI) is planning to build a new headquarters building adjacent to their current headquarters later this year. The article points out that the new headquarters to be built on Allen Parkway next to the current headquarters could total a construction cost of $150 million.

The City of Houston has committed to offer tax increment financing to the tune of about $13.8 million for the project. The exact amount of the funding will be based on the final increased value of the proposed new office. Part of the reasoning for such is that the new building will mitigate flooding that has happened at SCI’s current offices during periods of hurricanes and torrential downpours. According to the article, SCI’s employees were displaced for 6-months following Hurricane Harvey because of the flooding.

According to the article, city leaders were interested in keeping the company in the heart of Houston and providing this funding would allow them to do so “while improving public infrastructure along Allen Parkway and without the city incurring any upfront costs or taking on more debt”.

The article states that the corporate offices of SCI are home to 900 employees and those employees will continue to work at the existing office until the new facility is finished.

Here is a photo of Service Corporation International’s existing headquarters building.

Related — SCI closing in on new Houston HQ. This article appears to show a rendering of the conceptual new SCI building. Connect CRE — Texas Real Estate News.

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