- HFF Acquiring Renovated Montrose Apartment Complex 1218 Jackson [Houston Chronicle]
- Intrepid Business Park in Northwest Houston Trades Hands [HBJ]
- HomeGoods and Marshalls Join Grand Central Park’s 336 Marketplace in Conroe [HBJ]
- Aladdin Mediterranean Cuisine Eyeing June 1 Oak Forest Soft Opening [The Leader]
- Hurricane Harvey Still Buoying Houston’s Multifamily Market [Bisnow]
- Houston One of 22 Cities To Join Smart Cities Collaborative Focused on Addressing Transportation Problems [HBJ]
- Improvements Planned for Third Ward Streets [abc13]
- Houston Lags Behind San Antonio, Austin in Solar Power Gains [Houston Chronicle ($)]
- Environment Texas: State’s Companies Faced Minimal Enforcement for Recent Releases into Waterways [Houston Chronicle]
- Forecasters Predict 2018 Hurricane Season Won’t Be As Bad as 2017 [Houston Chronicle]
Photo of City Hall: Marc Longoria via Swamplot Flickr Pool
I suppose the demise of the forested area that was Camp Strake was inevitable given expansion in the area, but it’s a shame that it’s ending up with the standard big box sprawl that characterizes exurban Houston.
The multifamily market has been on fire. Prices being paid are insane. I’m seeing crap that was bought in the mid $30k/door range being sold for double. Stuff in Montrose that was $50-$60k/door 3-4 years ago, then sold for $80k/door being bought for $100k+/door and listed again for $150k/door.
So yeah, there is insanity in multifmily but I don’t think it’s harvey related. I think it’s low yield / easy money related.
Speaking of crazy prices. Look at the first story in the summary of stories re: the 25 unit in Montrose. Someone bought this thing, painted the doors a hip green, and then flipped it for 2x what they paid. The sucker that bought it won’t make money on it unless they’re looking at a 10 year time frame with aggressive proforma rent and HCAD not beating them down with tax increases.
Good luck to them.
@Heightsresident – additionally, so much of the Camp Strake land was stripped of trees and has been raised in order to build out of the West Fork San Jacinto floodway. Forest no more.