Professional Services– Case Study
Building Momentum
Houston, Texas
The Assignment
After years of anticipation, a global developer punctuated Houston’s skyline with a new icon – Bank of America Tower. This highly sustainable mixed-use development would not only serve as a model for modern office space in Houston – it would also reinvent the expansive downtown tunnel network in a way not seen in its 90-year history – with Understory culinary market hall. What’s more, Understory is ideally located within walking distance of Houston’s major performing arts venues.
To capitalize on all of these advantages, Carbonara Group was tasked with planning and executing a strategic media relations campaign during the final phase of the global developer’s leading-edge project to raise awareness of the Skanska brand in Houston and to support tenant marketing and retail sales by showcasing this transformational development.
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The Approach
- Identified opportunities and secure media coverage highlighting Bank of America Tower as a premier mixed-use destination in Houston.
- Reinforced the Skanska Houston brand as being synonymous with sustainability, innovative thinking and exemplary quality.
- Developed key messages focused on the development, distinctive features and a wide range of upscale offerings.
- Worked closely with the Skanska Houston marketing team to identify and develop strategic partnerships that support the local community and reinforced Understory’s role as a diverse, arts-driven community hub.
The Results
In total, the campaign garnered 544 collective earned media stories and mentions, with a collection circulation of 718,231,164 and publicity value of $6.5 million.
News coverage highlights include:
- 36 combined media placements in real estate industry outlets for Bank of America Tower milestones including LEED v4 Platinum certification and record equity placement
- CNN online story highlighting Understory as one of the 9 Great Reasons to Visit Houston in 2019
- 40+ media placements in consumer and trade press for Understory’s new tenant signings
- 29 media placements and mentions in coordination with the Understory grand opening
- Full page print story in Houston Chronicle Preview announcing Understory’s grand opening
- Houston Chronicle feature story on Skanska’s strategic partnership with Sawyer Yards for the Milam Art Wall in Understory
In December 2019, Skanska announced an equity placement with private real estate investment firm Beacon Capital Partners for a 90 percent ownership interest in Bank of America Tower. The transaction was valued at $373M and a record-breaking cost per square foot in Houston. Understory and the office space at Bank of America Tower are over 90 percent leased.
