Category: News & Market Reports

Colliers Q1 2022 | Houston Multifamily Market Report

Posted on by Sarah
Key Takeaways
  • Occupancy remained at 91.5%
  • Absorption dropped by more than half over the quarter
  • Average rents rose over the year and over the quarter
  • The quarterly median sales price and cap rates dropped

Houston Highlights

Demand for multifamily housing slowed between quarters recording only 1,708 units of net absorption compared to 4,098 the previous quarter. The average monthly rent for multifamily units increased 2.0% over the quarter from $1,188 per month in Q4 2021 to $1,212 per month in Q1 2022. There are over 13,000 units under construction and another 32,800 units are proposed. Occupancy remained steady over the quarter at 91.5% and increased over the year from 88.8% in Q1 2021 to 91.5% in Q1 2022. Click to read more at www.colliers.com.

Keeping up with Collin County: NTX Communities Experience Population Explosion, Development Boom

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It’s one of those statistics that makes a reader sit up and read it again: between 2010 and 2020, Collin County grew by more than 37 percent, which means a whopping 300,000 more people decided to call the suburban Dallas-area county home. “People are moving to Collin County from across the region and from across the country,” says Joey Grisham, Economic Development Director for the City of Anna.

Anna is one of so many cities helping to fuel that growth. Its population doubled in the past decade from 8,200 in 2010 to almost 17,000 in 2020.

“It’s all about affordability and quality of life,” Grisham says. “We have a great school district. We have excellent access to infrastructure. Plus, I think people are wanting to move farther out to escape some of the congestion of the city.”

Other Collin County communities grew as fast or faster. Celina now boasts a population of nearly 17,000 compared to roughly 6,000 in 2010. In Frisco, which was already one of the county’s larger cities, the population nearly doubled from 117,000 in 2010 to 200,000 in 2010. Allen’s growth was more contained, but it still added more than 20,000 new residents in the space of ten years.

“As Texas grows, Collin County is really at the epicenter of that growth,” says Daniel Bowman, Executive Director and CEO of the Allen Economic Development Corporation. Click to read more at www.rednews.com.

Abel at The Allen: Abel Design Group Tapped for Houston Luxury Mixed-use Tower

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When it’s complete, The Allen promises to be one of the most prestigious developments in Houston. Nestled between Downtown and River Oaks, the 35-story, mixed-use project will house 172 premier rooms in the Thompson Hotel, 19 floors of luxury condominiums in The Residences at the Allen, two restaurants, ballrooms and meeting spaces, a spa and fitness club, a one-acre elevated pool deck, and more.

“This is a world-class development that really captures everything that Houston has been yearning for,” says Taylor Alford, Director of Operations at Abel Design Group.DC Partners, which is leading the $500 million development, tasked the Houston-based firm with the challenge of designing the entire 900,000+ square feet of interior in the tower.

“The design logistics of a vertical mixed-use development are challenging, to say the least,” laughs Jeffrey Abel, the design group’s Managing Principal. Click to read more at www.rednews.com.

CBRE Opens State-of-the-Art Office in Richardson, Texas

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DALLAS–(BUSINESS WIRE)–CBRE Group announced the opening of a flexible, high-tech office in Richardson, Texas, designed to enable hybrid work and create a seamless experience for in-office and remote participants. The 131,000-sq.-ft. office at Galatyn Commons houses the company’s Dallas-based Digital & Technology, Finance, People (Human Resources) and Supply Chain/Procurement staff.

The new office is part of the company’s future-focused approach to workplace strategy, called Workplace360. Throughout the office, the company is testing various collaboration technologies to enable hybrid work, including:

A camera view called “smart gallery” that follows a speaker as they move around the room and gives each in-room participant a meeting profile to allow remote attendees to engage as if they had a seat at the table.
Touchscreens that promote next-level, mixed-presence collaboration, inviting in-person and remote colleagues to annotate and whiteboard together.
Touch-free video conferencing that allows employees to control presentations using voice activation or personal mobile devices to promote health and wellness. Click to read more at www.businesswire.com.

Catalyze and Stream Realty Partners Announce Joint Development of Clean Energy Projects Across the U.S.

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Catalyze, a leading clean energy transition company that develops, builds, owns and operates solar, battery storage and electric vehicle (EV) charging systems for commercial and industrial customers, and Stream Realty Partners, a full-service commercial real estate firm, announced today a Master Framework Agreement (MFA) to jointly develop on-site renewable energy solutions on all of Stream’s industrial owned properties nationwide. The MFA supports the firm’s goals to alleviate strain on power infrastructure by providing the grid system with sustainable power generation.

This press release features multimedia. View the full release here: //www.businesswire.com/news/home/20220422005124/en/

Catalyze and Stream will deploy solar, battery storage, and EV charging solutions across Stream’s development pipeline of over 40 million square feet. (Photo: Business Wire)

Catalyze and Stream will deploy solar, battery storage, and EV charging solutions across Stream’s development pipeline of over 40 million square feet, equivalent to over 450 megawatts of on-site solar and battery storage projects. Catalyze and Stream are initially considering 42 properties across the United States, in markets including California, North Carolina, South Carolina, Tennessee, and Texas, and aim to deploy fleet EV chargers at many of the properties over the next few years.

“As the real estate industry moves ESG to the top of its priority list, owners are seeking simple, cost-efficient ways to integrate clean energy solutions and reduce emissions across entire portfolios,” said Steve Luker, Catalyze CEO. “We’re proud to collaborate with Stream Realty Partners to demonstrate that leveraging technology, innovative contracting, and vertically integrated capabilities can make it easy and profitable to meet ESG and operational goals.” Click to read more at www.kulr8.com.

Howard Hughes Corp. Signs 6 New Office Leases Around The Woodlands

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The Howard Hughes Corp. announced April 21 it has signed six new office leases at its properties at 9950 Woodloch Forest Tower, Two Hughes Landing in Hughes Landing and 1400 Woodloch Forest Drive, all in The Woodlands.

According to a news release, a variety of businesses have been signed at the three locations.

“Companies continue to seek out The Woodlands for the variety of office spaces that provide flexibility as businesses evolve and grow, as well as for the exceptional lifestyle valued by today’s employees,” said Jim Carman, president of the Houston region for The Howard Hughes Corp., in the release. “The Woodlands Towers, Hughes Landing and 1400 Woodloch Forest Drive offer premier locations, convenient access to Interstate 45, plus all the shopping, dining, entertainment and other urban amenities—all in a walkable, natural setting—which have helped make The Woodlands one of the top-rated communities to live in America.”