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Chevron's Proposed Tower (left) Would Form An Urban Campus With The Company's Two Existing Towers In Downtown Houston. (Photo: Business Wire)

Stocks in this article: CVX

Chevron U.S.A. Inc. today announced plans to construct an office building in downtown Houston to accommodate its business growth and expanding workforce in the world’s energy capital.

Chevron's proposed tower (left) would form an urban campus with the company's two existing towers in ...

Chevron's proposed tower (left) would form an urban campus with the company's two existing towers in downtown Houston. (Photo: Business Wire)

The 50-story, 1.7 million-square-foot building will be located at 1600 Louisiana Street at Pease. Together with Chevron’s existing properties at 1500 Louisiana and 1400 Smith, the buildings will comprise an urban campus with indoor and outdoor common areas, enhanced dining facilities, a fitness center, training and conference facilities, and additional parking.

“This announcement underscores Chevron’s long-term commitment to Houston and its role as the epicenter of the global energy industry,” said Bereket Haregot, president of Chevron’s Business and Real Estate Services division. “Houston plays a vital and growing role in Chevron’s global business. The new building and expanded urban campus will provide a first-rate work environment for our employees and help us remain the employer of choice.”

The headquarters of Chevron Corporation, the parent company of Chevron U.S.A., will remain in California, where they have been located for more than 130 years.

Final investment decision for the project, designed by HOK, is expected in the second quarter of 2014. Groundbreaking will follow final investment decision, and occupancy is anticipated to begin in the fourth quarter of 2016.

Chevron employs approximately 9,000 employees and contractors in Houston, where nine of its businesses are headquartered. In addition to its downtown buildings, the company has locations in Bellaire and the Westchase District. Chevron invests millions in the greater Houston community, including programs that focus on education, economic development and other community needs. The company’s employees also donate thousands of hours annually volunteering to help improve the lives of people throughout the area.

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