Category: Uncategorized

VLK Architects and PBTISD Break Ground on Eagle Stadium at Rotary Field

Posted on by Sarah

(Pecos, Texas) – On February 15, 2022, VLK Architects joined Pecos-Barstow-Toyah ISD to celebrate breaking ground on the construction of Eagle Stadium at Rotary Field.

Eagle Stadium at Rotary Field will be the home to the Pecos High School Eagles and serve as a premier event stadium. Once complete, this stadium will be able to host football and soccer games, track and field events, band competitions, and more.

“We are excited to bring a new, dynamic stadium to PBTISD that will be the envy of other districts across West Texas,” said Brent Jaco, Superintendent of PBTISD. “Though the former structure is gone, the land remains … this land has been the site of athletic events for over 90 years in the community. So, the memories will always remain for everyone that comes through PBTISD.”

The project includes a new pressbox, home and visitor seating, concession stands, and restrooms. Along with the stadium’s reconstruction, there will be new turf, a resurfaced track, and state-of-the-art lighting.

“VLK Architects is excited to be a part of this project that will impact so many people in the PBTISD community,” said Monika Castillo, AIA, Principal of VLK Architects. “This is the second construction project across the district and it has been an honor to continue our relationship with PBTISD.”

The project is scheduled to be complete by August 2022.

About VLK Architects

With offices throughout Texas, VLK Architects provides architecture, planning, and interior design services to automotive, K-12, higher education, corporate, and institutional clients throughout Texas. For more information, please visit our website: www.vlkarchitects.com or contact marketing@vlkarchitects.com.

TuSimple, Property Developer Team up to Boost Autonomous Trucking in Texas

Posted on by Sarah

The roads are mostly mapped for TuSimple to drive autonomously in Texas. Now it is up to commercial property developers to get ready for driverless trucks to come and go from warehouses.

Hillwood Investment Properties, one of the largest commercial real estate developers in the country, is taking suggestions from TuSimple Holdings (NASDAQ: TSP) on how to incorporate the needs of autonomous trucks into current and future facilities.

“If you develop a warehouse that has the right setup, like a separate entrance for autonomy, an area where you can put a launching pad and a landing pad for autonomous trucks, this is where the design of these warehouses are to be TuSimple Autonomous Freight Network-enabled,” TuSimple CEO Cheng Lu told FreightWaves. Click to read more at www.freightwaves.com.

Rising Interest Rates and What’s Next for Multifamily Lending

Posted on by Sarah

Multifamily investors are bracing for an uptick in mortgage rates and other forms of real estate finance as the Federal Reserve bumps up interest rates in 2022. As an inflation-fighting move, the Fed plans three hikes of 25 basis points each. And in December, the Fed announced that it would wind down its bond-buying program by March.

But the consensus among mortgage bankers and economists is that increases in the cost of capital will be modest and will not dampen the availability of financing or the surge of investment. Multifamily lending volume will rise 3 percent to $421 billion this year as the economy continues to rebound, the Mortgage Bankers Association projects.

“The change in interest rates is not expected to reduce demand for multifamily housing this year. A lot of demand is driven by property values and fundamentals, both of which are extremely strong right now,” said Jamie Woodwell, MBA’s vice president of commercial real estate research. Strong property income and low vacancy are combining to push valuations upward, he added. Click to read more at www.multihousingnews.com.

Rockspring Properties Represented owners of 22.5 AC in Sale to Eastgroup Properties for Future Industrial Development

Posted on by Sarah

22340 INTERSTATE 45 SPRING, TX 77373: Chris Hutcheson, James Kadlick, Harrison Kane and Matt Herring of Rockspring Properties represented the owners of 22.5 acres located at the southeast corner of I-45 and the Grand Parkway in Spring, TX. The Buyer was Eastgroup Properties and they will be doing a future industrial development on the site.

“It’s Everywhere:” Demand for Houston Industrial Space on the Rise

Posted on by Sarah

To say that 2021 was a busy year for the team at CenterPoint Properties is an understatement. “The market is stronger on the demand side than I’ve seen in my 20-year career,” says Rives Nolen, CenterPoint’s Senior Vice President of Investments. After several years of lagging new supply, Nolen shares that the demand for industrial space in Houston is outpacing new construction this year. “Our vacancy rates are still not quite on par with the rest of the country, but I think with the demand that we’re seeing right now, things are moving in the right direction,” he says.

Heading into 2022, he anticipates the market will continue in that direction, lowering vacancy rates and inflating rents. “In terms of supply and demand, we are seeing more balance and the vacancy rate is trending back toward historical levels,” says Nolen. “We need another year like 2021, and we’re likely going to get that in 2022.” He also expects continued demand for larger industrial footprints, a trend Nolen says began nearly a decade ago. The average deal size in Houston this year is roughly double what it’s been historically. Click to read more at www.rednews.com.