Realty News Report Covering Commercial and Residential News

 HOUSTON – (By Dale King, Realty News Report) – Many Houstonians who fled their Hurricane Harvey-flooded and otherwise damaged homes found shelter in a host of different places, among them – obviously – hotels. And many stayed there a good, long time. As a result, the overall Houston hotel market finished 2018 with a revenue per available room (RevPAR) loss ... Read More »

HOUSTON – (Realty News Report) – The historic Medical Towers building in the Texas Medical Center is being transformed into the 273-room Westin Houston Medical Center hotel. Pearl Hospitality of Houston is redeveloping the 18-story building, which opened in 1954 at 1709 Dryden Road, between Main and Fannin streets. The mid-century modernist building, located across the street from Houston Methodist ... Read More »

HOUSTON – (Realty News Report) – The 21-story InterContinental Houston Medical Center has opened on Main Street, marking the return of the upscale InterContinental brand to Space City. Developed by Medistar Corp., a Houston firm led by Monzer Hourani,  the 354-room luxury hotel is located next to the 1,345-acre Texas Medical Center, the world’s largest medical complex. “We are very ... Read More »

ROSENBERG, Texas – (Realty News Report) – Illinois-based Imeri Enterprise purchased the 56-room La Quinta Inn & Suites Rosenberg at 28332 Southwest Freeway. The seller was Houston-based Gayatri International LLC. “We are finding that buyers from all over the country are drawn to Texas because of the booming economy,” said CBRE Vice President Dennis Drake. The transaction was arranged by ... Read More »

HOUSTON – (Realty News Report) – Downtown’s  Doubletree hotel is being rebranded the “C. Baldwin” hotel as part of a redo of the Allen Center development. The C. Baldwin is named after Charlotte Baldwin Allen, who has long been overshadowed by her more high-profile husband, Augustus Chapman Allen, the New York real estate speculator who co-founded Houston with his brother, ... Read More »

HOUSTON – (Realty News Report) – Driftwood Hospitality Management, a North Palm Beach, Fla.-based hotel management company, acquired two hotels in Houston’s Greenspoint area:  the 480-room Hilton Houston North and 390-room Marriott Houston North. All rooms and public space will be renovated at the Hilton, 12400 Greenspoint Drive. The Marriott Houston North, 255 N. Sam Houston Parkway East, will go ... Read More »

HOUSTON – Arch-Con Construction of Houston has topped out the 16-story Residence Inn Medical Center. The 182-room hotel is developed by Moody National Cos., a Houston firm led by Brett Moody. The hotel, located within walking distance of NRG stadium, will be complete in February before the Houston Livestock Show and Rodeo, said Michael Vaughn of Arch-Con. “We are on ... Read More »

HOUSTON – (By Dale King, Realty News Report) – A newly constructed development of 68 affordable residential units located in a Houston neighborhood designated last year as one of Mayor Sylvester Turner’s five “Complete Communities” is not only complete, it has also been totally leased up. Now that all housing spaces are occupied, the two entities involved in creating the development ... Read More »

GALVESTON – (Realty News Report) – An 11.6-acre tract on East Beach in Galveston is in-play as a possible mixed-use development with a hotel, condominiums and recreational uses. Some 2.4-acres of the property is teed-up with approvals in place to build a 160-room Residence Inn by Marriott, says Lisa Hankamer of Marcus & Millichap, which is marketing the site. The ... Read More »

HOUSTON – (Realty News Report) – The hotel industry in America’s fourth-largest city and its energy capital, has remained relatively flat over the past few years as a result of price gyrations in the energy sector. However, oil prices are recovering and that could jump start hotel building. For example, Houston’s Arch-Con Construction has nearly 1,200 keys under construction throughout ... Read More »

SAN ANTONIO – (Realty News Report) – DC Partners, a Houston firm led by Roberto Contreras, will break ground this month on the Thompson San Antonio Hotel and The Arts Residences, a $116 million hotel and condominium project on the River Walk in downtown San Antonio. DC Partners has hired Jordan Foster Construction to build the 20-story tower, which will ... Read More »

HOUSTON – A new Hyatt Place Hotel is being developed in downtown Houston. Dallas-based Hall Structured Finance has closed a new first lien construction loan totaling $22.8 million to finance the adaptive reuse of the 70-year-old Southwestern Bell Telephone Co. office building in Downtown Houston into a hotel. The 150-key all-suite, select service Hyatt Place Hotel is being developed by ... Read More »