13 Comment

• WR November 9, 2015 at 8:47 am

  “University of Texas System Acquiring More Than 300 Acres To Build New Campus in Buffalo Point ”

  So, the ivory towers of Austin have decided that Houston is worth-a-damn after all these years ….

  All their platitudes seem hollow after years of neglect, and the formation of yet another green-roots campus in Houston at this time seems to be a waste of money just to please their egocentric idea that only they can provide quality higher education. I call BS. A new “UT-H” is not needed ….. perhaps you should just lower tuition rates instead.
• Carpetbagger November 9, 2015 at 11:08 am

  Other commenters have complained before that Swamplot’s links to articles about the Exxon investigation are irrelevant to a real estate blog. However, it really should be an issue on Houstonians’ radars. It’s related to the global campaign to move away from fossil fuels for the following reasons:
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  1) We discovered after the 2005-2008 and 2011-2014 price spikes that the oil prices required for Houston to boom like this can’t be born by the global economy. The global economic slowdown (aided by high energy prices) has contributed to the current glut and low prices. This means that demand for oil will continue to be limited – the “Goldilocks price” for oil is below what Houston can thrive on. On top of that, many are looking for ways to completely eliminate their dependence on fossil fuels to avoid such spikes/drags on their economy in the future.
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  2) The Exxon case is an important test of whether because oil companies knew about the possibility of government action to limit GHG emissions — that they acted illegally under racketeering and/or SEC laws to mislead the public and investors. Imagine a slew of tobacco-style lawsuits leveraged against every big oil company in Houston on top of the bloodbath caused by low oil prices.
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  3) The Exxon case is part of a broader campaign to move the world off of fossil fuels. Houston has effectively doubled down on the fossil fuel industry in the past 15 years instead of looking ahead to alternatives. As the world sours on fossil fuels, that leaves Houston as the capital of a dying industry, a la Detroit. Despite all the bluster that Houston’s economy has diversified, the recent downturn is exposing the fact that, according to UH’s Bauer Institute of Regional Forecasting, there are 4 jobs tied to every oil industry job.
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  You may think this is all a conspiracy against a great industry that powers the world, but you have to get outside the Houston bubble to see that we could easily become the next Detroit unless we start _really_ diversifying. Banking on meds and eds like everyone else and then doubling down on oil is not the way out.
• commonsense November 9, 2015 at 11:41 am

  Exxon being investigated for climate change, that’s hilarious. It’s one thing to drag a big evil successful corporation through mud in the court of public opinion, it’s something completely different to do it in the court of law. It should be quite a circus to watch eco-terrorist activists (working for the prosecutor as expert witnesses) trying to DEFINE climate change in terms that will stand up in court. They can’t even agree on whether it’s global cooling, global warming, or what exactly climate change is.
• Mr.Clean19 November 9, 2015 at 12:43 pm

  Buffalo Point? Anyone know where this 300 acres will be?
• Cody November 9, 2015 at 3:51 pm

  I know that place (pic). I guess Christy’s (sp?) isn’t there anymore.
• roadchick November 9, 2015 at 4:49 pm

  @Carpetbagger, thanks for a thorough and unflinching look at Houston’s economy. It’s a shame so many people will discount it and stick their heads in the sand. Indeed, those claiming we have diversified our local economy are completely ignoring the ripple effect of the energy sector on virtually every other employment area: lawyers, land men, marketing specialists, caterers, high-end retail, you name it. Until we get honest about our economy and realize that the ongoing oil glut is only making things worse, Houston will continue to suffer.
• WR November 9, 2015 at 7:17 pm

  Here is a hint, Mr.Clean19

  “The System is completing the acquisition of over 300 acres of real estate off Buffalo Point just 3.5 miles from the Texas Medical Center.” https://www.texasexes.org/advocate-ut/briefing-room

  I would say the only open 300 acre site available would be near the old Astro World location (and that makes a lot of sense given that it is UT). There is a complex called “Buffalo Pointe” (extra “e”) just south of 610 and east of Main which adds additional support.
• Rich November 9, 2015 at 9:49 pm

  Buffalo Point is just south of 610S at the intersection of Buffalo Speedway and Willowbend. It’s mainly a wooded area that is ripe for development.
• slugline November 10, 2015 at 8:36 am

  The UT expansion is targeted for the area bounded by West Bellfort, Kirby, Holmes, and South Main.

  http://www.bizjournals.com/houston/news/2015/11/05/ut-system-announces-major-houston-expansion-other.html
• spiteful November 10, 2015 at 10:07 am

  there’s a great map of the UT site on about page 100 of this presentation:
  http://www.utsystem.edu/sites/utsfiles/offices/chancellor/assets/2015/Chancellor-McRaven-Leading-in-a-Complex-World.pdf
• Luz November 10, 2015 at 11:31 am

  As a resident of the Willowbend area, I much rather see UT build a facility than have cheap matchbox apartments and condos built up which already were taking over the area. That land was indeed ripe for development.
• Major Market November 10, 2015 at 7:29 pm

  Re: UT’s plan to build

  Knowing where the actual 300 acres is now, I’m glad to welcome them to the neighborhood. With its proximity to the Loop and to the medical center, I wondered why a developer hadn’t thrown up a master-planned gated community (or five) in that area by now and reaped some profits.
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  Here’s hoping that UT’s facility will help blow away some of the cheap motels, fast food joints, and tatty apartments in the area.
• TheNiche November 10, 2015 at 7:46 pm

  Buffalo Point is south of 610 near where Buffalo Speedway currently ends.