An old bus station for sale could transform the area between Houston’s Midtown and Downtown

A 1.44 acre tract known as the Greyhound Bus Station site in Midtown is now being promoted as an opportunity to completely change the face of Midtown.

The Greyhound Bus station south of the Pierce Elevated freeway has a lease which ends in October 2024 and is now for sale.

Real estate company Cushman & Wakefield announced earlier this month that they will be marketing the property on behalf of Twenty Lake Holdings, a real estate investment firm. Surrounding the site, there are new developments which include residential high rises, mid-rise multifamily, grocers, restaurants, and bars.

Some experts believe it could take years before Houston sees any positive redevelopment in the area. Jeff Peden is an executive Managing Director for Transwestern, another commercial real estate company. He said various companies have tried to sell the area for years. However, he said the area could also provide a positive opportunity.

"Whatever that time period is, I think that McDonald’s closing, I think that Greyhound closing, and hopefully construction being underway for the rerouting of I-45, if all that occurs, I think it could be a great lift for the entire area," Peden said.

The bus station going on sale comes at a time when the McDonald's located on Main Street has closed permanently and the Texas Department of Transportation has plans to reroute the Pierce Elevated freeway.

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