Tuesday , 27 June 2017
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Patrinely Group Delivers New Multifamily Project in West Houston

HOUSTON – Patrinely Group, a Houston-based firm that has developed 4,300 apartment units around the nation, delivered Folio West, a 266-unit multifamily complex at 2525 Citywest Boulevard with frontage on Westheimer Road. The project is owned by Crimson Real Estate Fund and its co-investment partner USAA Real Estate Co., Realty News Report has learned. The four-story project, designed by LRK ... Read More »

Average Monthly Rent for Houston Apartment Down $38 Over Last Year

HOUSTON – (By Dale King) – The average rent for an apartment in Houston has dropped $38 a month over the last 12 months, says a report by the Axiometrics, multifamily data firm. The cost of an average rental unit in Houston was $1,060 a month in March down from the $1,098 recorded in March 2016, the Axiometrics report says. ... Read More »

Avera Construction Delivers Office Building for Bihner Chen Engineering

HOUSTON –– Avera Construction of Houston recently completed an 8,650 SF design-build office building for Bihner Chen Engineering Ltd. Situated on a 1.7-acre site, the building is located in Katy, on the west side of Houston. In Katy, Avera also recently developed a 60,000-SF build-to-suit industrial building for ABC Supply. Avera Construction is an integral part of Avera Companies – ... Read More »

New Office Building Under Construction in Sugar Land

SUGAR LAND, Texas – E Contractors has broken ground on a 22,000 SF office building in the Sugar Land community in Fort Bend County. Located in the Lake Pointe area near the northwest corner of Highway 6 and U.S. 59, the two-story structure will have a modern glass exterior and steel construction. E Contractors is both the builder and developer ... Read More »

Former Dallas Cowboys, Shaw and Staubach, Developing Residential Tower

  DALLAS – Roger Staubach and Robert Shaw – two former Dallas Cowboys – along with Cowboys owner Jerry Jones are developing a high-rise apartment project in north Texas, reports Steve Brown of the Dallas Morning News. The apartment tower will be located at The Star, a $1.5 billion development that includes the Cowboys headquarters, an Omni hotel, office space, ... Read More »

The Answer to Houston’s Drainage Problems? – New ULI Report Details Sustainable Solutions; Highlights Houston Project

HOUSTON – Green stormwater management could be the answer to Houston’s drainage and flooding issues, according to a new in-depth national study by the Urban Land Institute research organization. The report, “Harvesting the Value of Water: Stormwater, Green Infrastructure and Real Estate,” cited the 51-acre Stonebrook Estates community in suburban Houston because its innovative drainage systems withstood the heavy rains of ... Read More »

NexPoint Residential Buys One Houston Apartment Complex, Selling Another One

HOUSTON – NexPoint Residential Trust, a Dallas-based REIT, has reported on two multifamily trades in the Houston area. NexPoint acquired Hollister Place, a 260-unit property in Houston, Texas, for $24.5 million, Realty News Report has learned. The project is located in Northwest Houston, near Highway 290 and West Little York at 6565 Hollister Street. One the sale side, the company ... Read More »

Hines Planning 100-Acre Mixed-Use Project in Dallas Area

ALLEN, Texas – Hines is preparing to announce a major mixed-use development on a 100-acre site in the Allen community in North Texas, according to Steve Brown of the Dallas Morning News. The development will include office buildings, retail and urban-style residential projects, Brown reports. Gensler is designing the development. The site is located on State Highway 121 and Alma ... Read More »

HCA Buying Four Houston Hospitals to Add 1,400 Beds to Southeast Texas Portfolio

HOUSTON – HCA has agreed to purchase three hospitals in Houston from Tenet Healthcare and another Houston-area hospital from Community Health Systems. The deals will give the Nashville-based HCA an additional 1,398 beds in the Houston area. The agreement with Tenet includes 423-bed Houston Northwest Medical Center, 181-bed Cypress Fairbanks Medical Center Hospital and 444-bed Park Plaza Hospital. “The addition ... Read More »

New Bacco Wine Lounge Points to Trend of Cycling Along Bayou Trails

HOUSTON – Bacco Wine Lounge may be on the cutting edge on a rolling trend. Its new location will be on the banks of Brays Bayou and accessible to the cyclists on the Brays Bayou Greenway Trail. So it will be possible to ride your bike on the bayou trail and stop off for a glass of Cabernet at sunset ... Read More »

Colliers: A Huge Jump in Office Vacancy in Houston

HOUSTON – Houston’s office vacancy rate skyrocketed over the last year, hitting 18.5 percent in the first quarter, up from 15.3 percent in the first quarter of last year, according to Colliers International. More new office space continues to be delivered to the market at the same time energy companies are shedding excess space. The completion of Hines’ 1 million ... Read More »

WeWork Leases 86,000 SF in Jones at Main Building in Downtown

HOUSTON – WeWork, a co-working office space company, will open its first Houston location in The Jones at Main, a historic redevelopment in downtown Houston. WeWork leased 86,000 SF in the building. The office sharing WeWork concept is appealing to start-up firms, entrepreneurs and even Fortune 500 companies that need to have a regular presence in major cities. The Jones ... Read More »

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