Houston among top 10 most expensive cities in the world for construction

Houston is one of the most expensive cities in the world to build commercial and residential projects, according to a new report.

Turner & Townsend, a global professionals services firm based in the U.K., recently released its 2017 international construction market survey. The annual study examines construction costs for commercial and residential projects in 43 cities around the world.

Click to read more at Houston Business Journal.

There’s a population in Houston worth $44 billion, and retailers are noticing

Real estate retail activity among businesses that target Houston’s growing Hispanic population is drumming up, said Rafael Melara, senior vice president of brokerage services at Houston-based Hunington Properties.

“I am seeing much more activity,” Melara said, when asked about real estate activity among Hispanic-facing businesses in 2017 compared to years prior. “People are trying to lease now because you don’t see as much vacancy. That’s really driven demand.”

Click to read more at Houston Business Journal.

Next phase of Rice Village transformation begins

Rice Village, a shopping district near Rice University, has begun the next phase of its ongoing makeover.

Fort Worth-based Trademark Property Co., which manages Rice Village, has been overseeing a multimillion-dollar renovation of the Rice Village District since 2015. The latest phase will update the retail space and streetscape on the south side of Amherst Street between Kirby Drive and Kelvin Drive.

Click to read more at Houston Business Journal.

Houston apartment renters are ‘having a field day’ amid oil slump

During the oil slump, Houston has become an apartment renter’s paradise.

Houston apartment owners are wooing renters with up to three months of free rent and moving incentives as operators compete to keep occupancy rates up amid the energy downturn and an influx of new apartment construction.

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Houston health care real estate in transitional state along with industry

In a season defined by layoffs within major hospital systems and mergers between smaller ones, Houston’s health care industry is experiencing some hiccups as it adjusts to a changing landscape.

For several reasons, acquisitions are strong among medical office buildings, though, and prominent investors are eyeing the Bayou City’s health care properties

Click to read more at Houston Business Journal.

How this newly opened west Houston co-working space came to be

New York City-based TechSpace, a co-working concept, had some reservations about Houston.

Mike Fransen, senior vice president and managing director at Parkway Inc., a newly launched REIT spinoff, worked with TechSpace to open a location in Austin’s Central Business District in early 2016.

Click to read more at Houston Business Journal.