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Category Archives: Houston

Home Builders Begin First of 6,000 Homes in New 3,642-Acre Master Planned Community in NW Houston

HOUSTON – A major master-planned community – that will eventually have 6,000 homes – is underway in northwest Houston. Home builders will begin construction in June on 10 model homes for the first phase of Elyson, its 3,642-acre community at Grand Parkway and FM 529, approximately six miles north of I-10 West. Chesmar Homes, Darling Homes, David Weekley Homes, Highland ... Read More »

New Office Projects Announced in Springwoods Village

HOUSTON – The American Bureau of Shipping is leaving Greenspoint to occupy a 10-story office building that will be constructed in Springwoods Village, where the transformative new Exxon Mobil campus is located just north of Houston. The American Bureau of Shipping will occupy CityPlace 2, a 326,800-square-foot building, which will begin construction in early 2017. CityPlace is a 60-acre mixed-use ... Read More »

Houston Leads the Nation in Retail Construction, Marcus & Millichap Reports

Houston is leading the nation in shopping center construction, according to the Marcus & Millichap real estate firm. In its second quarter retail research report, the firm predicted 3.3 million square feet of retail space will be completed in the Houston area this year, more than any other market in the country. Job growth is rather puny, but at least ... Read More »

How the Oil Crash is Impacting Houston Home Builders – Q&A with Lawrence Dean, Metrostudy

(By Dale King) HOUSTON – As a senior advisor with Metrostudy, Lawrence Dean is responsible for providing housing and related information to builders, developers and investors in the Texas region. During the past 18 months of dealing with the impact of oil and gas prices that have fallen lower than many people anticipated, Dean has seen housing starts drop off, ... Read More »

Transwestern: Multifamily Sold in Prime Location

HOUSTON – Moody National Cos. is planned to develop a mixed-use project on the site of an apartment community it has acquired near Memorial City Mall in west Houston, according to Transwestern. The apartment community site is near the Katy Freeway and Bunker Hill Road and would be suitable for retail, office, hotel or multifamily. In the near term, though, ... Read More »

Daikin/Goodman Constructing 4 Million SF Plant in Northwest Houston – The World’s Largest Tiltwall

HOUSTON – Daikin Industries the world’s largest manufacturer of heating, cooling and refrigerant products, is nearing completion on a massive, 4 million square-foot, $417 million manufacturing and logistics campus on the northwest side of Houston that will employ at least 4,000 people. The building is the largest tilt-wall construction project in the world. Daikin, which owns Goodman Global, will build ... Read More »

Houston Home Sales Running 2 Percent Ahead of Last Year’s Pace

HOUSTON – The Houston real estate market is off to a good start despite instability in the energy industry. On a year-to-date basis, home sales are 1.6 percent ahead of last year’s pace during the first four months of the year, says the Houston Association of Realtors. “There is little to complain about in the April HAR sales report, especially ... Read More »

Wrecking Ball Swings with a Stroke of Genius at Allen Center – a Rarity for Houston

By Ralph Bivins Editor, Realty News Report The age of confinement is over. The age of openness is here.  Skybridges and tunnels are out. Sidewalks and streetlife are in.  Cubicles fade into relics. Open workspace articulates hip.  — A quick verse by R. Bivins for Kenneth Schnitzer, Texas Eastern and the prior generation of downtown development. Brookfield Property Partners, which ... Read More »

Overbuilt? The Highs and Lows of Houston’s Apartment Market: Q&A with CBRE’s New Multifamily Group Leader

HOUSTON – Throughout the city, apartment construction is on the rise.  At the beginning of the year, Apartment Data Services reported 102 apartment complexes under construction — 28,969 units — and another 16,000 units in 56 communities proposed. The new construction occurs as Houston’s diversified economy is recovering. While oil prices have increased over the past several months, energy prices ... Read More »

Beijing Developers Begin Construction on $300 Million Mixed-Use Project in Pearland

HOUSTON – America Modern Green, a subsidiary of Beijing-based Modern Land China, has begun construction on a $300 million mixed-use project that will deliver office, retail, multifamily, seniors living and a hotel to Pearland, just south of Houston. The 48-acre development, called the Ivy District, is expected to have a wide variety of commercial and residential building on-site upon completion ... Read More »

New Houston REIT to Own Greenway Plaza and Other Major Buildings in Wake of Cousins/Parkway Merger

HOUSTON – Cousins Properties and Parkway Properties – two large REITs with significant Houston holdings – have agreed to merge and spin-off a new REIT of Houston office towers. In a deal slated to close at year-end, Atlanta-based Cousins will acquire Orlando-based Parkway for $2 billion, paid in stock. The new Houston REIT will own five Houston office properties with ... Read More »

Digesting Houston’s Oversupply of Office Space May Take Years

  (By Ralph Bivins, Editor of Realty News Report.) There is no quick fix. The oversupply of office space in the Energy Corridor sector of west Houston is not going to be digested soon. The sublease belly-ache won’t pass overnight. The office market is fine in some parts of Houston. For the most part, the trouble is centered in the ... Read More »

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