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Survey: Houston is a Prime Location for First-Time Homebuyers

(By Dale King) HOUSTON – The housing crisis brought on by last decade’s Great Recession has softened, but hasn’t gone away – and certainly isn’t forgotten. Today’s home ownership rate of 64 percent is still slightly anemic compared to the 69 percent of people who called their personal domiciles their own in 2005. The drop was particularly steep among young, ... Read More »

Closed: The Largest Seniors Housing Transaction in Texas History

DALLAS – Regency Post-Acute Healthcare System, a Dallas firm led by Donald Kivowitz, has sold a portfolio of 33 skilled nursing facilities in Texas. “The transaction is the largest seniors housing sale on record in Texas,” said the Marcus & Millichap real estate firm. The 4,200-bed portfolio includes nursing homes in Houston, Austin, San Antonio, Corpus Christi, Victoria and the ... Read More »

Where Do We Go From Here? Q&A with Houston Architect Scott Ziegler of Ziegler Cooper Architects

HOUSTON – The multifamily market in Space City currently is awash with apartments – and the sector is expected to deliver even more units in the coming 18 months. What’s ahead for the multifamily sector in Houston? What will happen to those units? What will design firms do instead of creating new multifamily buildings? And what are some of the ... Read More »

Houston Homebuilding: Land Sales Down 44 Percent in The Woodlands and Bridgeland

HOUSTON – Land sales are down 44 percent in two Houston communities – The Woodlands and Bridgeland – because the economy has softened, the Howard Hughes Corp. reports. Howard Hughes Corp., the owner of the two communities, disclosed the slippage in its annual earnings report comparing 2015 totals versus 2014. “An uncertain economic climate in the greater Houston area due ... Read More »

The East Houston Boom: The Explosive Bright Spot in a Lackluster Market

EAST HOUSTON (Realty News Report) – If you think Houston is only losing jobs, then take a ride to the city’s eastside. Drive by the ChevronPhilips chemical facility under construction in Baytown. It employs thousands of construction workers and will need approximately 400 full-time employees to run the plant once completed. “Unfortunately the upstream side — exploration and production — ... Read More »

JLL Expands Houston Portfolio

HOUSTON – JLL has expanded its Houston property management portfolio by approximately 1 million square feet with four recent assignments including 1300 Main, the Great Southwest building at 1314 Texas, Westchase Place and 5300 Memorial. “We look forward to the opportunity to improve and add value at each asset,” says JLL Houston Managing Director Peyton Collins. The addition of these ... Read More »

United Airlines Centre: Coming Soon to Houston Skyline?

HOUSTON – While it’s under construction, Hines’ new building in downtown Houston has been called by its address: “609 Main at Texas.” But it’s been assumed that when a huge tenant comes along, the name of the tower will be a part of the lease deal. A United Airlines spokeswoman stated last week that the airline will be a tenant ... Read More »

Sublease Supply will be Over 10 Million SF Soon: Oil Companies Shedding Office Space in Houston

HOUSTON – The Houston office market is headed into a rough year. Houston’s energy companies are shrinking and at the same time 22 office buildings are under construction. “It’s pretty bad out there. I’m not going to sugar-coat it,” said office tenant representative leasing broker Brandon Clarke, senior vice president of CBRE in Houston. “Houston is a down market right ... Read More »

Inside the Loop: The Q&A with Mark Davis of Davis Commercial

HOUSTON – With “one of a kind” specialty retailers like Cheeky Vintage, Found, and Kuhl-Linscomb, Houston’s “inside the Loop” retail scene is thriving.  Virtually any time of day, the region is buzzing with shoppers who are partaking of the area’s eclectic shops and restaurants.  What makes the inner city scene so exciting?  What about the ever-changing shops along lower Westheimer?  ... Read More »

Q&A with David Songy, Developer of Two New Hotels in Houston’s Galleria Area

HOUSTON – Showing its confidence in the Houston lodging market, Atlanta-based commercial real estate firm Songy Highroads, LLC has opened not one but two hotels in the city over the past several months. The properties – the 325-room Hyatt Regency Houston Galleria and the 157-room, select-service Hyatt Place Houston Galleria, are part of a 7.6-acre mixed-use development. On strong a ... Read More »

Houston Home Sales Down 2 Percent in January

HOUSTON — Houston home sales were down 2 percent in January, compared to January of last year, despite a sluggish local economy, reports the Houston Association of Realtors reports. January single-family home sales were down 2.1 percent versus January 2015 with a total of 4,024 sales compared to 4,109 a year earlier, HAR reported. Homes in the upper-price brackets showed ... Read More »

Houston was No. 1 in Nation in Home Building Last Year; Dallas was No. 2

HOUSTON – Houston led the nation in home building in 2015 with Dallas and Austin also cracking the Top Ten, according to the U.S. Census Bureau. Houston had 38,315 single-family building permits last year, leading the second-place Dallas/Fort Worth which had 22,550. Atlanta was No. 3 in home building last year, with 16,984 building permits. Other Top Ten markets: Washington, ... Read More »

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