Hines is known for developing iconic buildings in Houston—notably One Shell Plaza, Pennzoil Place, and the Houston Galleria—and around the world. But when the company first proposed developing a new office building on a blighted block in downtown Houston, many in the Houston real estate community scratched their heads.
The successful development of the Arena District in Columbus, Ohio, set into motion a nationwide flurry of development of urban sports-oriented entertainment districts, as municipal officials across the country reimagined their city centers as places where people live, work, and play.
Last year, veteran Texas homebuilder Jim Lemming decided to construct houses to meet the prevailing tastes and lifestyles of Houston’s growing southwest suburbs. That meant building houses with prayer rooms, Islamic-style arches, domed roofs, and extra master bedroom suites to accommodate multigenerational households.
Strong demand from technology, advertising, media, and information tenants, combined with limited new office supply, has allowed for healthy rent growth. The office sector’s 2.89 percent dividend yield is below average for equity REITs, but in the current low-interest-rate environment, it is attractive compared with other investment options. Plus, interest rate survey results from Trepp.
No city in the United States is probably less likely to be the poster child for healthy living through physical activity than Houston. Yet things are changing, and these changes are making Houston a great laboratory that will help us figure out whether it is possible to change real estate development patterns in the Sun Belt in a way that increases physical activity and therefore improves public health.
A mixed-use urban district in the Houston suburbs has created a much-needed pedestrian-friendly setting for office tenants, apartment dwellers, hotel guests, and retail/restaurant patrons.
The American Institute of Architects and the American Library Association have selected six recipients to receive the 2015 AIA/ALA Library Building Awards, including the new Cedar Rapids Public Library, designed by OPN Architects.
Mifflin West of Madison, Wisconsin, was named America’s most livable neighborhood in AARP’s Livability index, followed by the Upper West Side of New York and Boston’s Downtown Crossing.
Longtime Urban Land Institute leader A. Alfred Taubman passed away following a heart attack. He was 91. Taubman, a real estate industry icon who pioneered the development of enclosed shopping malls, had been a ULI Foundation governor since 1985. He served as a trustee from 1980 through 1992, and was a member of the ULI Advisory Services committee from 1995 to 1996.
As the only major U.S. city without formal zoning, Houston has a reputation as a freewheeling place where anything goes. But in truth, a complex patchwork of public and private regulation has evolved to impose order.