- Energy Corridor Vacancy Rate Climbed to 25.7% in Third Quarter, According to JLL [Realty News Report]
- Midway’s West Houston Office Building CityCentre Five Secures 2 Tenants, Now 77% Occupied [Realty News Report]
- New 600K-SF Grand Morton Town Center Addresses Retail Shortage in North Katy [Realty News Report]
- City of Katy To Begin Demolition of Downtown City Hall in January To Make Way for Entertainment Hub [HBJ]
- Houston Real Estate Firm Hansen Partners Behind Purchase of Former Mark’s American Cuisine Space [HBJ]
- Academy Sports + Outdoors Slated To Open Pearland Location This Friday [HBJ]
- Inside Third Coast Atop the John P. McGovern Commons in the Texas Medical Center [HBJ]
- Speculators Buying Condemned Houses Slated for Demo and Reselling Them To Buyers, Say Officials [Galveston County Daily News ($)]
- The Annual Salary Needed To Own a Home in Top Houston Neighborhoods [Houston Chronicle]
- Defining Houston’s “Bad” Neighborhoods [OffCite Blog]
- What Makes Houston a Knowledge Capital, But Not a Global Giant [The Urban Edge]
- Houston Police Touring Other Super Bowl Cities To See How Security Measures Are Implemented [Houston Public Media]
- Houston Has Seen Elevated Ozone Every Day So Far This Month [Houston Public Media]
- Washington Avenue Arts District Unveils 800-Foot Art Wall Houston in Sawyer Yards [Houstonia]
Photo: Ruben S. via Swamplot Flickr Pool
Headlines
Re: Retail in ‘North Katy’
What does this phrase even mean? “Creating additional synergy…”
The article is just an ad for the developer and retail chains moving in, including Wal-Mart. And yes – thank GOD there will soon be a Wal-Mart for the people currently suffering from the “dearth” of like stores.
Always interesting to see the redlining maps and how the “hazardous” areas were able to really grow and expand in large amounts compared to that of the best/still desirable hoods. Just wonder how much of that occurred before and after the highway projects and white flight was able to really take off.
I believe the Mark’s property was purchased for $3.6 million. Chris only gets a 5 year lease, rent of $15k a month with a 7% return to investors, as the group behind it is trying to purchase more properties that are immediately nearby for a bigger project.
In thermos: Wow, I have a NNN property that’s a bit higher income than that. I’ll take $3.6m for it please
joel: Lenders today still take location into account. Try to buy a commercial property in a ‘bad’ area vs. a ‘good’ area and see how lenders react. There isn’t really anything wrong with that as area is a function of risk. And risk is the primary driver of lending.
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I think the term ‘white flight’ doesn’t really apply to anything today (or really in most of our lifetimes). If you’re in a bad area (I’ll define it is high crime, low opportunities), you’re likely to leave if you have the means to do so. “bad areas” are going to be cheaper because there is less demand to live there. So “low income” and “bad areas” are often one and the same. It’s hard to find a bad area that’s high income as those people would just move on out.
Re: Defining Houston’s “Bad†Neighborhoods
Is the Author aware of the $31m in land as of just 2014 that the Midtown Redevelopment Authority owns in third ward strictly for affordable housing purposes?
I knew pollution seemed up lately. It is strange to have these flu-like symptoms and serious sinus/nasal congestion when it’s basically still summer outside.
“Every Day So Far This Month” = 4 days, which doesn’t strike me as all that newsworthy….
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JB, not sure what that has to do with the article, which aside from the requisite can-we-learn-from-the-past in the last few sentences is about the role of the FHA and HOLC in New Deal era institutional racism…