Developer to unveil second phase of massive master-planned community northwest of Houston

The Howard Hughes Corp. (NYSE: HHC) is launching the second phase of Bridgeland, an 11,400-acre master-planned community in Cypress, northwest of Houston.

The Dallas-based developer and its Houston-based subsidiary, The Woodlands Development Co., are set to unveil on July 24 more detailed plans, new renderings and the homebuilder lineup for Parkland Village, the second of four planned villages in Bridgeland. Stay tuned next week for more information about Bridgeland’s newest village.

Click to read more at Houston Business Journal.

Developer behind Museum District medical office building renovation has more planned for Houston

The California-based company that’s launching a $10 million renovation of a medical office building in the Museum District has more Houston projects in the pipeline.

Irvine, California-based HCP Inc.(NYSE: HCP) owns the 177,476-square-foot tower at 1213 Hermann Drive, along with several other medical office and senior housing facilities throughout the Houston area. HCP is also planning a renovation of another “high-profile” Houston property, according to Transwestern’s Ashley Cassel.

Click to read more at Houston Business Journal.

50 top-selling master-planned communities nationwide include 10 in Houston

Among the 50 top-selling master-planned communities nationwide in 2017, 10 are located in the Houston area.

That’s more than any other metro area on RCLCO Real Estate Advisors’ midyear update. However, the firm’s lists in previous years have ended at 20.

Click to read more at Houston Business Journal.

New-to-Houston CRE investor: ‘We have capital to deploy’ in Houston

Last week, an East Coast investment firm made its entry into the Houston market by closing on the property at 1700 West Loop South. But if things go according to plan, the company should close at least one more deal in Houston before the year is over.

“We’d like to expand our presence there,” Jay Kraft, senior vice president of Lingerfelt Commonwealth Partners, said of Houston. “We’re bullish on Houston.”

Click to read more at Houston Business Journal.

High occupancy, low availability: The catch-22 of Houston’s retail market

On paper, Houston’s second-quarter retail leasing performance looks sluggish, but that’s not to say demand dried up.

Rather, the market’s limited availability – and roughly 94 percent occupancy rate, which is record high – means Houston’s absorbed around half the retail space it absorbed in the first half of 2016, per a report from CBRE’s Houston office.

Click to read more at Houston Business Journal.

Where Houston apartment vacancies are the highest and lowest

Apartment vacancy rates are climbing across Houston as developers are set to deliver a whopping 23,500 units this year, according to a new report.

Marcus & Millichap Inc. issued its second-quarter multifamily market report, which found that Houston’s apartment vacancy rate has jumped 140 basis points year over year to 8.2 percent. Last year, the vacancy rate climbed 60 basis points. One basis point is equal to one hundredth of one percent.

Click to read more at Houston Business Journal.