Realty News Report Covering Commercial and Residential News

HOUSTON – (Realty News Report) – The anniversary of the initial landfall of Hurricane Harvey is approaching. The storm arrived Aug. 25, 2017 and it stayed in the Houston area for days, pounding the city with 50 inches of rain and flooding more that 100,000 homes. A year later, voters are going to the polls to consider approving $2.5 billion ... Read More »

HOUSTON – (Realty News Report) – The Houston area added 94,600 new jobs in the 12-month period ending in June, one of the strongest job growth reports in years. More than 3.1 million people are now employed in the Houston area, according to the Texas Workforce Commission. The June job total represents a “significant jump” from the 81,200 jobs created ... Read More »

HOUSTON – (Realty News Report) – Houston is known as the world capital of space exploration, the world capital of air conditioning, the world capital of the international energy industry and the world capital of petroleum exploration. It might also be known as the world capital of Master Planned Communities (MPCs) — residential developments that include an unusual number of ... Read More »

HOUSTON – (Realty News Report) – A major residential play is unfolding in the Post Oak Park area near Loop 610 with long-time multifamily developer Martin Fein Interests starting a new project. Fein will break ground next month on a five- and six-story multifamily rental project at the northeast corner of Post Oak Park Drive and River Hollow Lane. The ... Read More »

HOUSTON – (Realty News Report) – On Wednesday, July 17, 2018, Hines and partner Ivanhoé Cambridge, announced construction of a new, 47-story, 1 million-SF office tower on the former site of the Houston Chronicle building downtown. While law firm Vinson & Elkins, signed a lease for 212,000 square feet and Hines will take 155,000 square feet, the new construction occurs ... Read More »

HOUSTON – (Realty News Report) Hines has announced plans to start development on downtown Houston’s next skyscraper – a 1 million-SF tower built on the former site of the Houston Chronicle building, which has been demolished. Hines, a real estate development firm founded in Houston in 1957, will move its own headquarters into the new 47-story building, leaving the Williams ... Read More »

HOUSTON – (Realty News Report) – Wilson Investment Properties, a Silicon Valley-based real estate investment firm, acquired an industrial portfolio of 19 buildings in 6 industrial parks, primarily located in northwest Houston, spanning a total of 460,000 SF. The portfolio is leased to a diversified set of 103 tenants, including manufacturing, fabrication, and many local service businesses. It fared exceptionally ... Read More »

HOUSTON – (Realty News Report) – A joint venture led by Patrinely Group that also includes USAA Real Estate and CDC Houston, has broken ground on 100,000-SF mixed-use project in Springwoods Village north of Houston. The project will consist of a 50,000-SF, two-story office/retail building, located at 1401 Lake Plaza Drive in Spring, Texas and a 50,000-SF Star Cinema Grill. ... Read More »

HOUSTON – (Realty News Report) – Houston Habitat for Humanity, reacting to the devastation from Hurricane Harvey, has relaxed its requirement that applicants be first-time homebuyers. “With $125 billion in damage, 88 lives lost, 12,700 homes destroyed and 130,000 in need of repair, Houstonians continue to face a long road to recovery as the one year anniversary of Hurricane Harvey ... Read More »

HOUSTON – (Realty News Report) – Space City is living up to its nickname: it has a lot of office space and the figures are increasing. According to Colliers International, Houston’s citywide vacancy rate stood at 21.7 percent in the second quarter, up from the 18.8 percent recorded in Q2 2017. The sublease problem, exacerbated by Occidental Petroleum dropping 800,000 SF ... Read More »

HOUSTON – (Realty News Report) – Wolff Companies has acquired 521 acres of land on U.S. 290 in Waller, northwest of Houston, for a mixed-use development that will include light industrial, distribution buildings, office and retail space. The property, just west of FM 362, and with elevation of 300 feet, the property will be known as Beacon Hill, one of ... Read More »

HOUSTON – (Realty News Report) – Builders are nearing completion of the first model homes in Vanbrooke, a new residential community developed by Land Tejas. The 250-acre community is located four miles south of Interstate 10, near Highway 359, near Fulshear. Anglia Homes, Long Lake Ltd., and Westin Homes are building homes on 45- and 55-foot lots. Some new homes ... Read More »