Tall & Urban News

Chevron has initiated a $66.5 million USD renovation of its 40-story office building at 1500 Louisiana Street in downtown Houston, signaling its deepening ties to the city following its relocation from California. While specific renovation details remain undisclosed, the project underscores the oil and gas giant's intent to expand its Houston presence, which also includes ownership of the 1.2 million-square-foot (111,484-square-meter) 1400 Smith Street building, purchased for $340 million USD in 2011.

In addition to its downtown offices, Chevron is exploring a potential upstream R&D campus on 77 acres (31.2 hectares) it acquired in Cypress and maintains a venture capital presence at the Ion tech hub in Midtown. A spokesperson noted the company is assessing which company roles will transition to Houston versus remaining to support California operations in San Ramon, a suburb outside of San Francisco.

Chevron occupies 3 million square feet (278,709 square meters) in downtown Houston, employing 6,000 workers, making it the largest private employer in the city's central business district. Another 1,000 employees work across the metro area, as of 2022. Approximately 2,000 employees remain at Chevron's former headquarters in San Ramon, which the company sold to Sunset Development. The San Ramon campus spans 92 acres (37.2 hectares), with 1.3 million square feet  (120,773 square meters) across 13 buildings.

Learn more about this story at The Real Deal.