Changes ahead for Houston Club Building?

There could be changes ahed for one of downtown's most nondescript skyscrapers: According to the Chronicle, the Houston Club Building has been sold to a commercial real estate firm that is considering opening a hotel or residential units in the 52-year-old building. Cameron Management, which also owns the Esperson Buildings, bought the 18-story building from JPMorgan Chase; the bank has 500 employees working in the building, but most of them will be moving out this summer. Remaining in the building will be a Chase daycare center and the venerable Houston Club, which occupies four floors.

As for the building's future, Cameron's still trying to figure that out: If it remains an office building, Cameron could spend about $30 million on renovations. Another proposal is to redevelop the building into a hotel, and a third would involve creating residential space on the upper floors with offices below. In any case, Cameron officials and Houston Club management said they hope the Houston Club will stay in the building: "It's a significant piece of history," Mark Russell, who was involved in negotiating the building's sale, said. Cameron and the club are working on a new lease that could reduce the club's space by half.