NewsTalk Texas RSS NewsTalk Texas compiled by the Real Estate Center at Texas A&M University

  • Weston Urban breaking ground on 32-story mixed-use tower
    on May 14, 2021 at 9:00 pm

    ​​​​​​SAN ANTONIO – Weston Urban is breaking ground on a 32-story tower​ at 305 Soledad St.  The project will include a parking garage, courtyard, pool, deck and communal areas, 351 apartments, and 7,000 sf of ground-floor retail space.  The city council recently approved part of a $7.6 million incentive package for the project. Construction begins this month. Completion is set for December 2023. The Texas Real Estate Research ​Center has more news like this: San Antonio mixed-use news ​​Texas Quarterly Commercial Report Texas Quarterly Apartment Report Local retail, office, hotel​, and multifamily news​​ ​Source: ​San A​ntonio Express-News

  • Post-pandemic recovery slow but steady
    on May 14, 2021 at 7:00 pm

    ​​​COLLEGE STATION – Since the start of the year, COVID​-19 cases have been declining steadily and life has gradually returned to something resembling before the pandemic. Employment, however, is still a work in progress. Texas, like the rest of the U.S., is still trying to recover jobs lost since March of last year. As of March 2021, Texas has done better regaining jobs than the nation as a whole. Texas didn't have as large a gap to make up, having lost at most around 12 percent of pre-pandemic jobs compared with 15 percent nationwide. One of the key drivers toward recovery has been the COVID vaccine rollout. As of mid-April, approximately 66 percent of Texans aged 18 years or older reported receiving full or partial vaccine doses, according to the U.S. Census Bureau's Household Pulse Survey. An additional almost 8 percent reported that vaccination is on the to-do list. Despite the vaccine, consumer behavior appears to be on a slow crawl back to normal. Almost 40 percent of Texans report no change in shopping trip habits, while 31 percent report making more combined shopping trips, resulting in fewer overall trips. Eighteen percent reported more online shopping, resulting in fewer in-person shopping trips. On the housing front, the risk of losing one's home is still a real threat for many Texans. In general, homeowners appear to be in much better shape than renters. When asked in mid-April by the Census Bureau, almost 90 percent of Texas homeowners replied the threat of losing their home due to foreclosure in the upcoming months was either not very likely or not likely at all. Around one-third of renters, meanwhile, responded that the risk of upcoming eviction was either very likely or somewhat likely. Finally, another nuance of the pandemic is the shift toward remote work. Almost a third of Texas households reported having at least one adult in the family still working remotely. Further data indicate that half the households claiming a college degree were still working away from the office. That figure drops to approximately 15 percent for households with only a high school degree.​ The Texas Real Estate Research Center has a wealth of economic information online for free. Texas employment data​ Outlook for the Texas Economy Monthly Review of the Texas Economy  Texas Real Estate Research Center research library 2021 Texas Housing & Economic Outlook​ Texas Housing Insight​​ Source: Texas Real Estate Research Center

  • Old Seabrook Village first phase sells to Gehan
    on May 14, 2021 at 3:00 pm

    ​​SEABROOK – Gehan Homes Ltd. has purchased the first phase of Old Seabrook Village from OSV Development LLC. Phase one of the waterfront community on Meyer Rd. includes 15 lots. Gehan is also contracted to buy the next two phases, which total 57 lots.  Gehan's two- and three-story homes are being designed by Fredd Lucille's Design. A park with a pier will be built in the second phase. Land Advisors Organization arranged the transaction. The Texas Real Estate Research Center has more information on housing:​ Houston-area housing news ​Texas Housing Insight Houston-area housing reports​ Home Price Index Housing Activity Data Source: Connect Media

  • 757K-sf industrial portfolio trades hands
    on May 14, 2021 at 2:00 pm

    ​​​​HOUSTON – Philadelphia-based Equus Capital Partners has purchased​ a 757,325-sf industrial portfolio near the intersection of I-45 and Beltway 8.  The portfolio consists of three rear-load buildings and two cross-dock buildings that were constructed between 2008 and 2014.  They were 62 percent leased to 11 tenants at the time of sale. Equus will implement a capital improvement program and rebrand the properties as Park 845 Crossing.  Get more Houston-area industrial news on the Texas Real Estate Research Center's website: Houston-area industrial news​ ​​​​​Texas Quarterly Commercial Report ​Source: REBusiness Online

  • 492K-sf industrial project nearing completion in Haltom City
    on May 14, 2021 at 2:00 pm

    ​​​​​HALTOM CITY – Stream Realty Partners is nearing completion of Midway Logistics Pa​rk, a 491,218-sf speculative industrial project off SH 121. The development consists of a 156,085-sf cross-dock building, 126,320-sf rear-load complex, and ​​​208,813-sf rear-load facility.  Stream, which is also handling leasing, will deliver the buildings in the third quarter.​ The Texas Real Estate Research Center has more on DFW's industrial market: ​​Texas Quarterly Commercial Report ​Dallas-Fort Worth-Arlington industrial news​ ​Source: REBusiness Online