Two university-based accelerator programs have jointly leased space in downtown's 1600 Smith building, the first deal to be inked as part of a new alt-office concept called DesignHive.

University of Houston's RED Labs and Rice University's OwlSpark will co-lease 3,730 square feet in the office suite designed by local design firm Ziegler Cooper.

The space is one of four small-scale suites commissioned by downtown property owner Brookfield Property on the building's 37th floor. Each was designed by a different architecture firm to show what an office of the future could look like.

RELATED: Receptionistas. Indoor rosemary hedges. This is the office?

All come with prominent co-working elements, as the spaces are meant to attract "TAMI" tenants — an acronym for technology, advertising, media and information firms that typically work collaboratively. The spaces were built for less than $100 a square foot.

"We expect that the suite's open layout and atmosphere will stimulate and positively impact the success of our founders," Kerri Smith, managing director of OwlSpark, said in a statement. "We are looking forward to the collaboration and idea-generation that this space will help facilitate among the OwlSpark and RED Labs start up teams."

The accelerator programs will use the space to host, in tandem, their 12-week summer programs that provide startup teams with firsthand experience in launching a tech startup.

RELATED: Allen Center office complex getting modern makeover

Brookfield plans to light the top of the building in UH's red and Rice's blue. Houstonians might remember the building for when it was home to the headquarters of Continental Airlines and the company's logo was projected on the roof in blue light.

The space was inspired by Mexico City's Casa Giraldi. The statement described Ziegler Cooper's design principals:

• The playful space depicts the concept of 'Assemblage,' which is a gathering of unrelated objects – most evident with the addition of a neon banana sign – in order to address the ever-changing variety of users in the modern work environment

• The entry is a merging of both a reception space and a coffee bar, a "receptionista," to encourage casual collaboration and serve as a site for informal meetings

• Ten-foot modules of power distribution ribs provide a structure for an easily reconfigurable work space, creating public, semi-public and private work zones to accommodate various work styles.

UH RED Labs was represented in lease negotiations by Kelly McCormick, OwlSpark was represented by Kerri Smith. Brookfield was represented by John Pruitt, Bubba Harkins and Jessica Ochoa of JLL, along with Paul Frazier and Clint Bawcom of Brookfield.