For the Signorelli Company, its most recent success involves “chasing the corridor,” keeping up with the Grand Parkway as it expands access to new areas of Southeast Texas. “It’s changed traffic patterns, the way people move, the way they shop, where they’re going. It’s making farmland convenient, and that has opened up a lot of opportunity for us,” president and CEO Dan Signorelli told the crowd gathered at The Briar Club for REDNews’ Houston & Southeast Texas Development / Redevelopment
Summit in late June. The most significant opportunity upon which Signorelli has seized may be the 1,400-acre Valley Ranch. His company bought the first parcel at the intersection of US-59 and SH-99 back in 1999. It took another seven years before he’d assembled the full property needed for the master-planned community in Porter. Click to read more at www.rednews.com.
In the Houston real estate market, sometimes your end goal can be overshadowed by the process of how to achieve it. Development is a challenge, even in a city with no zoning laws, as Oxberry Group learned when it eyed a 1.5-acre property at the corner of San Felipe and Chimney Rock in Southwest Houston. The intersection appeared to be the ideal site for a luxury retail development, but there was a reason no developer had touched it yet. “That land has been in a deed-restrictive association for more than 80 years,” principal Sean Jamea told those in attendance at REDNews’ Houston & Southeast Texas Development / Redevelopment Summit. Seeing that obstacle, Oxberry led a nine-month marketing effort to educate homeowners in that association, Briarcroft, about the project and Houston’s everchanging real estate market. In the process, Jamea said he got to learn about the area as well. “One homeowner shared that when she was young, her house was on San Felipe and she used to ride her horse up and down San Felipe and Chimney Rock,” he laughed. Click to read more at www.rednews.com.
HOUSTON – Local multifamily occupancy (90.2 percent) and rents ($1.17 per square foot) significantly rose over the year in the second quarter 2019, improving on the flat rent and occupancy growth in the prior quarter. Year-to-date net absorption reached 10,094 units, which means Houston has already absorbed more in two quarters than it had all of last year. Deliveries (3,303 units) are up compared with last year, as is the number of units identified as under construction (22,094 units). High-wage job growth has remained strong thanks to manufacturing and professional services jobs. Click to read more at www.recenter.tamu.edu.
The Signorelli Company, developer of Valley Ranch, is pleased to have hosted a successful second annual 4th Fest at Valley Ranch in celebration of Independence Day. July 4th, 2019 marked the first anniversary of Valley Ranch 4th Fest, which is quickly becoming the major Independence Day festival for the North Houston area. Located at the site of the future amphitheater at Valley Ranch Town Center, the event was underwritten by The Signorelli Company and sponsored by Joslin Construction, with a wide panel of additional sponsors. Over 9,000 people enjoyed a music lineup rivaling many festivals in the country, a myriad of activities, and various services including food trucks, cold beer, non-alcohol vendors, and a sanctioned BBQ competition. Click to read more at www.signorellicompany.com.
Weather-related flooding of homes in Texas is nothing new. Hurricanes and other heavy rainfall events have been damaging residential properties for decades. However, Hurricane Harvey’s unprecedented 50-plus inches of rain heightened many homeowners’ concerns about their vulnerability to flooding. In addition, strong population growth has led to more housing in low-lying and coastal areas of the state. As a result, home flooding has become more commonplace in Texas. To reduce the chances of flood-related damage, potential new-home buyers can familiarize themselves with effective flood-resistant techniques and products before construction begins when implementation cost is lowest. Existing homeowners can benefit from discovering what methods and products are most effective in protecting their current residence against flooding. Click to read more at www.recenter.tamu.edu.
WeWork, the coworking giant that’s blanketed the country with stylish office space for entrepreneurs and corporations, is planning its fourth Houston location since arriving here two years ago. The New York company has leased 56,000 square feet in downtown’s 609 Main, a new 48-story office tower between Texas Avenue and Capitol. The 609 Main building, developed and managed by Hines, is just a block away from WeWork’s first Houston location in the Jones building at 708 Main St. where it operates 86,000 square feet. Between both locations, WeWork will have more than 2,400 desks. WeWork often operates multiple locations near each other, the company said, citing examples in Dallas, Plano, Austin and other cities around the country. “We see businesses want to be in specific areas or neighborhoods,” said spokesman Leor Reef. Click to read more at www.houstonchronicle.com.