Love it. Hate it.
Tear it down or recreate it.
The decaying, outdated and unused Astrodome is one of Houston’s greatest cultural and architectural landmarks. The fact that $105 million now will be used to renovate the former home of the Astros and Oilers – the money finally greenlighted after years of public arguments and following the destruction from Hurricane Harvey – is also very Houston.
City staff has unveiled a third version of Austin’s land development code, touting its ease of use and preservation of neighborhood character. City Council launched the rewrite of the Austin land development code, known as CodeNEXT, in 2013 after a series of messy battles over large-scale development. Consultants who presented the newest version of the code to council Tuesday morning talked about how the latest zoning maps reflect the character of existing neighborhood plans; incorporate the Imagine Austin goals of growth along Austin’s major corridors; and consolidate three decades of policy decisions.
Read more at: https://www.bisnow.com/austin-san-antonio/news/commercial-real-estate/is-third-time-the-charm-for-codenext-84996?utm_source=CopyShare&utm_medium=Browser
The end of 2017 wrapped up with a bang. Due in no small part to Toyota and JPMorgan Chase occupying more than 3 million square feet of build-to-suit projects in Plano’s Legacy, Dallas-Fort Worth ended the year at 5.2 million square feet of positive absorption—the market’s highest annual number since the recession. More importantly, the end of 2017 saw our 23rd straight quarter of positive absorption, a streak that began in the second quarter of 2012.
Read more at dmagazine.com
Houston bucked the national trend for new commercial and multifamily construction projects in 2017, a report showed.
The value of commercial and apartment construction projects started in the Houston area in 2017 held steady at $3.9 billion after experiencing a big drop in 2016, Dodge Data & Analytics reported.
Seven of the top 12 markets showed declines, including the biggest markets of New York, Los Angeles, Dallas and Washington, D.C. The San Francisco, Atlanta and Philadelphia areas experienced double-digit gains in the value of construction starts, while Seattle was unchanged along with Houston.
Dodge Data & Analytics tracked office buildings, stores, hotels, warehouses, commercial garages and multifamily housing in the report.
Although The Woodlands area holds the reputation of being a retail destination in the Greater Houston area, local experts say the area’s retail rental rates remain on par with those of neighboring communities, while local business owners say the rental rates can be discouraging to small businesses.
In 2017, The Woodlands’ average retail rental rate was $21.76 per square foot—making the community the 13th most expensive retail rental market in the Greater Houston area, according to data compiled by J. Beard Real Estate Company’s research department through third-party data providers.
Compared with similar Greater Houston area markets, retail in The Woodlands is more expensive than Cy-Fair, at $21.21 per square foot; Spring-Klein, at $18.98; and Sugar Land-Missouri City, at $18.34, according to data compiled by Caldwell Companies.
Read more at communityimpact.com
The evolution of the real estate market is unstoppable with new trends emerging every year. As the economy shifts into an even higher gear, with more consumers making plans to own homes, there is a lot you can expect. Compared to 2017 and other past years, you can expect 2018 to take you on a long ride in real estate as highlighted by Realtor.com.
Some of the main housing and real estate trends include:
Supply meets demand
From market analysis and after about three years of crushing shortages in homes for sale, especially homes within the consumers’ budgets, predictions for 2018 show that buyers will gain more control over the market as housing supply finally catches up with the buyers’ demands.
Read more at realtybiznews.com