HOK, a global design, architecture and engineering firm, has left its
mark on some of Texas’ most renowned skyscrapers, including Houston’s
JPMorgan Chase Tower and Dallas’ Trammell Crow Center. As the real
estate landscape shifts due to economic and environmental factors, these
projects exemplify the growing trend of renovating existing properties.
“Here in Austin, for example, there was such an incredible boom and so
many office buildings built,” said George Blume, HOK’s Austin/Dallas
design principal. “But as a result of COVID, it’s been really challenging to
get occupancy in those buildings.”
This abundance of available space is steering the industry towards
renovation rather than new construction. Blume believes that the focus
has shifted from creating new amenities to infusing existing spaces with
a modern, attractive feel.
“You’re not going to see a lot of new office buildings any time soon,” he
noted. “We all have to now work with the supply that we have.”
The pivot toward renovation is not just a matter of necessity; it also makes
financial and environmental sense. Blume emphasized the importance of
leveraging existing structures rather than building anew.

“Building construction is quite a draw on the resources that we have, but we have so much building stock in this entire world, it would behoove us to work with what we have as much as possible,” Blume said, noting that this approach not only saves on construction costs but also appeals to tenants. “Since there’s not an appetite for new construction right now, it’s very much a tenant’s market. Tenants have a lot of power and a lot of choice. There’s great value in retrofitting an existing property. That’s a great story for sustainability.” The financial advantages of renovation are clear, but Blume also highlighted the ongoing “arms race” to attract top talent. Companies are constantly seeking to make their office environments more inviting.

“It’s really appealing to every generation of talent, making them feel like this is a really inviting, fun place to work,” Blume said. “You can only do that so much with your actual tenant interior. The tenants are going to want those properties to have as much of a similar value as possible.”

When it comes to revamping iconic properties like the JPMorgan Chase Tower and Trammell Crow Center, there’s an added challenge: modernizing without losing the essence of the building’s original architecture. “JPMorgan Chase is a classic tower. It’s currently the tallest building in Texas. It’s by I.M. Pei, and it is a gem of architectural history,” Blume explained. “On paper, you wouldn’t need to do anything with that project to attract tenants. But over the last ten years, there were plenty of incredible Class-A towers built.”