4

Magic Johnson Riding to the Rescue of Houston Pavilions

^
Keep Houston Press Free
I Support
  • Local
  • Community
  • Journalism
  • logo

Support the independent voice of Houston and help keep the future of Houston Press free.

The company partly owned by LA Laker and Rocket-killer Magic Johnson has purchased the semi-troubled downtown Houston Pavilions, according to an announcement today.

Canyon-Johnson Urban Funds will take over the project, which covers three city blocks and includes the House of Blues, Forever XXI, McCormick & Schmick's and Lucky Strike.

The Johnson firm and Midway "will invest additional funds to revitalize the property," which has not quite taken off as the downtown-booster it was initially envisioned as a few years ago.

Steps have been announced before -- NBC Sports, for instance, has said it's considering placing a studio there with a view to the city streets, so fans can get the unutterable thrill of standing in front of a camera waving a "Hi, Mom" sign.

Johnson and CJU managing partner Bobby Turner issued a joint statement: "We are both proud to be investing in Houston again, and to be partnering with Midway to maximize the potential of such an incredible mixed-use asset. The support we have received from the City of Houston's leadership makes projects like this a possibility."

No dollar figure for the transaction has been released.

CJUF also has the Marq*E Entertainment Center, and the way it describes the Pavilions makes it seem a no-brainer:

n area that is currently experiencing a renaissance due to $3 billion in new development over the last decade, along with a particularly strong leasing market and the City's desire to re-energize the central business district. The Toyota Center, Minute Maid Park, the George R. Brown Convention Center and several upscale hotels are also nearby. The property is also steps away from the Main Street Light Rail system, which traverses 7.5 miles through Downtown Houston.

Of course, it was a no-brainer to those who came before CJUF, too.

Follow Houston Press on Facebook and on Twitter @HairBallsNews or @HoustonPress

Keep the Houston Press Free... Since we started the Houston Press, it has been defined as the free, independent voice of Houston, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Houston with no paywalls.

We use cookies to collect and analyze information on site performance and usage, and to enhance and customize content and advertisements. By clicking 'X' or continuing to use the site, you agree to allow cookies to be placed. To find out more, visit our cookies policy and our privacy policy.

 

Join the Press community and help support independent local journalism in Houston.

 

Join the Press community and help support independent local journalism in Houston.