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Houston’s pipeline of new apartment projects continues to dry up amid the oil slump.
However, developers are still under construction on 17,543 apartment units across the Bayou City. Most of these new apartments were planned during the energy boom, when the economic stars were aligned and job growth seemed boundless.
Click to read more at Houston Business Journal.
This past summer, Novel Creative Development began shifting direction on the The Ivy Lofts, the first major micro-unit condominium tower in Houston.
Amid slower-than-expected sales, the new Houston-based developer mulled adding a hotel to its condo project, comprised primarily of units smaller than 500 square feet. The condo-hotel twin tower concept would have had coworking office space and separate hotel amenities, like a spa.
Clickt o read more at Houston Business Journal.
The populations of 10 major U.S. metropolitan areas — including Houston and five other Texas cities — will skyrocket by more than 50 percent in the coming quarter-century, according to projections issued Oct. 11 by American City Business Journals.
ACBJ has generated population projections for 933 metropolitan and micropolitan areas, based on raw data from the U.S. Census Bureau and theUniversity of Virginia’s Weldon Cooper Center for Public Service.
Click to read more at Houston Business Journal.
Some Houston Independent School District leaders planning a new high school are hoping to acquire land from Chevron Corp. for future construction.
Southwest News reports that the plan was discussed at a recent Bellaire High Project Advisory Team meeting. HISD Board Trustee Mike Lunceford and Bellaire High School Principal Michael McDonough discussed a plan in which HISD would buy the 28-acre property from Chevron using existing bond funds. Another bond would have to be approved in order to fund construction of a new campus, but the existing high school at 5100 Maple St. would be renovated in the meantime.
Click to read more at Houston Business Journal.
Mark Sondock isn’t worried about Houston’s retail market amid the energy downturn.
In fact, low oil prices are a boon to local retailers, whose shoppers have more disposable income to spend on goods and services. And despite the oil slump, Houston still has a modest population, housing and job growth, said Sondock,Stream Realty Partners’ managing director overseeing Houston’s retail market.
Click to read more at Houston Business Journal.
Houston developer and restaurateur Fred Sharifi has hired real estate brokers specializing in office and retail to help land tenants to fill a proposed mixed-use development he announced late last year for east Montrose.
The project will be called Fairview District and plans include developing a five-story parking garage and several other buildings to house office, restaurant and shop space along Fairview near Taft. Construction is expected to begin in January, according to a press release from CBRE, the firm hired to lease the office component.
Click to read more at Chron.