Texas and Oklahoma multifamily demand makes rooms in walletTexas and Oklahoma multifamily demand makes rooms in wallethttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107322015-10-06T05:00:00Z

​​TEXAS - Major metros in Texas and Oklahoma offer more affordable multifamily housing alternatives than other parts of the United States.

The country's year-over-year rent growth averaged 5.5 percent at mid-year, exceeding the 8-year average of post-recession gains and far above the pace of consumer inflationary increases.

In Texas and Oklahoma, while apartment rent growth is likewise a prevalent pattern, the major markets still fall below the national benchmark and are comparatively more affordable than other major metros.


The average nationwide rent payment now consumes 40 percent of household income. Multifamily renters in Texas and Oklahoma have extra room in their wallets with rent-to-income ratios all under 30 percent and as low as 20 percent in Oklahoma City.

CB Richard Ellis
http://www.cbre.us/o/houstonmarket/real-estate-trends/Pages/MarketFlash-October-5-Room-for-Rent-Available-in-Your-Wallet-Measuring-TX-and-OK-Apartment-Affordability.aspxSource: {Source}
Houston: New convention hotel books an amazing 200,000 room-nightsHouston: New convention hotel books an amazing 200,000 room-nightshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107252015-10-06T05:00:00Z

​HOUSTON - Boosted by the 2017 Super Bowl, the new 1000-room Marriott Marquis Houston, which will open next year, has booked almost 200,000 room-nights, a phenomenal amount of advance business, a hotel executive says.

The downtown hotel, 1777 Walker St., ​​which will be linked by skybridge to the convention center, has booked a sizable number of rooms for the Super Bowl. 

But the 200,000 rooms represents a lot more than just Super Bowl business, said Jay Marsella, director of sales and marketing for the downtown hotel.

Initial guests at the Marriott Marquis hotel are expected to check-in in September 2016 with room rates in excess of $200 a night.

The hotel’s group and convention business will start arriving in 2017, says Marsella, who expects occupancy rates of 68 percent in the first year and over 70 percent thereafter.

Houston-based RIDA Development is developing the $370 million hotel in conjunction with the Houston First Corp.

Downtown Houston is getting a lot of new hotels, which are under construction now: a 215-room Holiday Inn in the old Savoy Hotel building; a 223-room Hotel Alessandra by Midway and Valencia Group; the Aloft hotel being put in the historic Stowers building by Bill Franks; and two new hotels by Nick Massad: a 168-room Hampton Inn and a 132-suite Homewood Suites.

Check out the full Ralph Bivens story.​
Realty News Report
Houston-The Woodlands-Sugar Land
http://realtynewsreport.com/2015/10/05/a-year-before-opening-houstons-new-convention-hotel-books-an-amazing-200000-room-nights/Source: {Source}
$75M lifestyle center to ‘King’ of the stable in Houston$75M lifestyle center to ‘King’ of the stable in Houstonhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107192015-10-06T05:00:00Z

​​HOUSTON - NewQuest Properties will develop a $75 million community lifestyle center on the last available commercial parcel at the King family's 704-acre Arabian horse farm in west Houston.

The project will include a Kroger Signature store that will anchor the first phase of Stableside at Falcon Landing, along with 28,700 sf of inline retail space, a 7,350-sf multi-tenant building and four pad sites.

The first phase will feature restaurants, fitness, salons, pet stores, and banks.

Phase II of the project will feature a 39,000-sf theater, oversized shared green space with patio seating and a water feature.

Scraping on the 34.4-acre site will commence in two months.
Stableside at Falcon Landing is slated to open in December 2016.

CoStar Group
Houston-The Woodlands-Sugar Land
http://www.costar.com/News/Article/$75-Million-Dollar-Lifestyle-Center-Planned-For-Houston/175637Source: {Source}
Austin Transwestern Market Watch Bundle Sept. 2015Austin Transwestern Market Watch Bundle Sept. 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=106962015-10-06T05:00:00Z

​​​AUSTIN - Transwestern has released the September 2015 Market Watch reports for Austin industrial, multifamily, office and retail — all in one bundle. 

The reports also contain recent sales, sales statistics and submarket overviews. ​

Austin-Round Rock
Market Overview

​​Click to download the latest Austin Market Watch bundle here

Source: {Source}
North Texas apartment rents reach record highNorth Texas apartment rents reach record highhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107162015-10-06T05:00:00Z

​​DALLAS-FORT WORTH - North Texas apartment renters this year are being slammed with record rent increases, as increased construction this year has not put the brakes on significant apartment rent hikes.

"We can't find a quarter in the past where rent increases were this high year-over-year," said Greg Willett, MPF Research chief economist. "Such strong rent growth in Dallas-Fort Worth really is unprecedented. ​Some slowing of rent growth is likely, but the pace of price increases should remain way above Dallas-Fort Worth's long-term norm of 2 percent to 2.5 percent," Willett said.​

An average apartment in North Texas now costs $975 per month. Rents for newly built units in hot markets like Dallas' Uptown district are running more than $1,500.

Net apartment leasing totaled more than 5,000 units in third quarter.

DFW leads the country in both apartment leasing and the number of new units added to the market,​​ as less than 5 percent of North Texas apartments are vacant. 

More than 38,000 apartments are being built in North Texas — the highest total in decades.

Despite one of the largest construction volumes in decades, apartment builders cannot keep up with demand in the DFW area caused by strong job growth and increasing populations.​

Denton Record Chronicle
Dallas-Fort Worth-Arlington

​Click to​ see MPF Research​ Dallas-Fort Worth multifamily reports. 

Read more at the {Source}
Construction job growth hammers hard in San AntonioConstruction job growth hammers hard in San Antoniohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107262015-10-06T05:00:00Z

​SAN ANTONIO - Pent-up demand and uncertainty in the Eagle Ford Shale have pushed San Antonio to the top of the stack in terms of statewide construction employment growth.

According to a report from the Associated General Contractors of America, San Antonio posted the largest increase in construction employment in the year between August 2014 and August 2015 throughout the state of Texas.

Over the 12-month period, the San Antonio-New Braunfels area posted a 10 percent increase in construction employment, putting the region at 26 of the country's 339 metro areas.

In comparison, Dallas saw a 3 percent increase, the Austin-Round Rock metro had a 0.2 percent jump, Fort Worth-Arlington dropped 8 percent and Houston-The Woodlands-Sugar Land fell 2 percent.

Population and job growth in San Antonio will remain the main drivers behind demand for increased development, and neither of those two factors appear to be slowing their pace anytime soon.

"Aside from single-family and multifamily residential, the biggest area of growth in San Antonio, in terms of new construction, is educational," said Kirk Kistner, Bartlett Cocke General Contractors' vice president of business development, adding that school districts in and around the city are all planning significant construction development projects. Altogether, the projects will account for nearly $4 billion of work that has or will hit the market over the next two years."
San Antonio Business Journal
San Antonio-New Braunfels
http://www.bizjournals.com/sanantonio/news/2015/10/01/san-antonio-leads-texas-in-construction-job-growth.htmlRead more at the {Source}
CHI St. Luke's Hospital to Spring into north HoustonCHI St. Luke's Hospital to Spring into north Houstonhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=106852015-10-06T05:00:00Z

​​​​SPRING - As the 2,000-acre Springwoods Village grows up around the new Exxon Mobil Corp. campus just south of The Woodlands, CHI St. Luke's Health is preparing to unveil its newest concept for medical facilities.

The CHI St. Luke's Health Springwoods Village medical campus, a $120 million, 150,000-sf facility on 23 acres, has been operating a primary care clinic since May and will open the hospital in January 2016.

The six-story hospital will focus on providing outpatient and preventative health care, with four inpatient beds, ten emergency room beds, four operating suites, two endoscopy suites, full diagnostic imaging capabilities and 100,000 sf of medical office building space.

It will open with 35-40 employees, with plans to expand the staff and the services in phases as the community need grows.

The Springwoods Village campus emergency department is expected to eventually be able to treat up to 18 patients at capacity.

Even as the health care sector crept up on energy as the largest non-retail employment sector in 2014, accounting for 18 percent of non-retail jobs compared to energy's 32 percent, according to The Woodlands Area Economic Development Partnership, the sector is expected to grow even more as area hospitals realize major expansion plans in the coming years.

Houston Chronicle
Houston-The Woodlands-Sugar Land

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San Antonio: 150-unit Ashler Oaks branches out to new ownerSan Antonio: 150-unit Ashler Oaks branches out to new ownerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107142015-10-06T05:00:00Z

​SAN ANTONIO - California-based Omninet Capital has sold the 150-unit Ashler Oaks to San Antonio-based Michael & Laura Gasparrelli Group LLC.

Ashler Oaks, a garden-style apartment complex spanning 6.65 acres, was built in 1997 and is currently 90 percent occupied.

Near the Medical Center at 4100 Parkdale Dr., the buyer purchased it as a value-add opportunity and secured a $7.8 million mortgage from RAIT Financial.
San Antonio Business Journal
San Antonio-New Braunfels
http://www.bizjournals.com/sanantonio/news/2015/10/02/transaction-action-whataburger-and-cst-continuing.htmlRead more at the {Source}
1st Cav rides $50M renovation to Fort Hood HQ1st Cav rides $50M renovation to Fort Hood HQhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107172015-10-06T05:00:00Z

FORT HOOD - Temple-based MW Builders has landed a $49.8 million contract to renovate the 1st Cavalry Division headquarters building at Fort Hood.

Brian Dosa, Fort Hood's public works director, said the extremely needed project will take about three years, with the first year spent on building a temporary trailer "city" that will house the division staff while the renovations are underway.

Work on the temporary buildings — to go up on the south side of the Fort Hood's Soldier Development Center, a few blocks away from the headquarters building — is expected to begin in November.

When the temporary buildings are ready — potentially in the fall of 2016 — the division staff will move into them as the headquarters building is renovated, expected to take two years. If the renovation goes as expected, the staff could move back into the building in late 2018.

While the building's exterior will not look much different from what it looks like now, the inside of the 145,000-sf headquarters will expand another 10,000 feet by removing an inner courtyard and converting it into additional floor space.

The 1st Cavalry Division Headquarters "is the oldest division HQs facility in United States Forces Command," according to the statement from the division. "The building has been operational since its construction in 1983."

Temple Daily Telegram
http://www.tdtnews.com/news/article_4f59e640-6a2a-11e5-9b90-0b0ada9baa7e.htmlRead more at the {Source}
Cotton Belt Trail plays Connect 4: Colleyville, Hurst, Grapevine, NRHCotton Belt Trail plays Connect 4: Colleyville, Hurst, Grapevine, NRHhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=106742015-10-06T05:00:00Z

​​​COLLEYVILLE - With the construction of Phase 1 of SH 26 in Colleyville ending, work to bridge the last remaining gap in the Cotton Belt Trail System has started.

Once the gap — between Grapevine and Colleyville — is filled, bicyclists and pedestrians will be able to travel from North Richland Hills to Grapevine uninterrupted. 

As part of the SH 26 project, the Texas Department of Transportation finished the Cotton Belt Trail in Grapevine and will construct the trail up to Colleyville’s entry sign in September.

All that remains to connect the Cotton Belt Trail is a portion of about 800 feet.

Colleyville Public Works Director Jeremy Hutt said along with finishing the trail the city has plans to build a pocket park as well. The city acquired 0.87 acres to build the pocket park and the last piece of the trail.

Colleyville officials said the gap is expected to be closed by spring 2016.

Community Impact Newspaper
Dallas-Fort Worth-Arlington
Infrastructure & Transportation

​​Need data? Click on DFW Market Research for housing, multifamily, office, retail, industrial reports and more.​

Read the full article at the {Source}
McKinney 'house' rush 2015McKinney 'house' rush 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=106802015-10-06T05:00:00Z

​​​​​McKINNEY - Median new home prices in North Texas are running about $285,000 — but sharp increases in land and construction costs in the DFW area are pushing new home costs above $300,000 in many neighborhoods.

The supply of finished new houses in the McKinney area is near a record low with only about 2,700 available for immediate move-in.

The shortage of both new and preowned homes is causing residential property costs to soar in North Texas — Dallas-area home prices were up 8.7 percent in July from 2014 levels, according to a new Standard & Poor's/Case Shiller Home Price Index.

The land rush this week to buy houses in McKinney probably will not be repeated across the region, said Ted Wilson with housing analyst Residential Strategies Inc. The strategic location of the McKinney community and the price of the homes caused buyers to line up, he said.

Preowned homes in the Dallas area are selling in less than 40 days on average and at between 96 percent and 100 percent of asking price, data from real estate agents shows.

Dallas Morning News
Dallas-Fort Worth-Arlington

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McKinney August 2015 home sales by ZIPMcKinney August 2015 home sales by ZIPhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107082015-10-06T05:00:00Z

​McKINNEY - McKinney home sales data by ZIP codes for August have been released by the Community Impact Newspaper. The August 2015 homes sales were released in September.

Community Impact Newspaper
Dallas-Fort Worth-Arlington

Want to know what else is happening in McKinney? Click here to see read more on News Talk Texas.

Source: {Source}
The Icon at Hewitt makes $30M statementThe Icon at Hewitt makes $30M statementhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=106612015-10-06T05:00:00Z

​HEWITT - A $30 million high-end apartment complex is coming to Hewitt in what city leaders call the single largest investment to the community in years.

Hewitt City Council approved the rezoning of 13 acres on Ritchie Rd. at Patriot Court for a 264-unit complex.

The approval is also the first time in about two decades the city has approved a request for an apartment complex.

The complex — called The Icon at Hewitt — will be built by Tulsa, Oklahoma-based Case & Associates Properties Inc.

Construction will likely begin in summer 2016, with an estimated completion date of a year to 15 months.

The complex will include one- and two-bedroom apartments with stainless steel appliances.

Rent will average $1,000, up to $1,300 for a two-bedroom apartment with a garage.

The facility also will include a clubhouse, business center, fitness center, dog park, limited access gates, outdoor social areas and an outdoor swimming pool.
Waco Tribune-Herald
http://www.wacotrib.com/news/greater_waco/hewitt/hewitt-approves-m-high-end-apartment-complex/article_92db3885-4617-5dd4-aec5-e887cf80024e.htmlRead more at the {Source}
Capital One 'banks' construction on corporate campus in PlanoCapital One 'banks' construction on corporate campus in Planohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107152015-10-06T05:00:00Z

​​PLANO - Capital One is hosting a groundbreaking ceremony on October 8, marking the start of construction activities on the expansion of its corporate campus that will house between 1,000 to 1,200 employees.

The four-story building will provide cutting-edge flexibility and diversity within the space and will include six dedicated training rooms, a full-service cafeteria, a mix of collaboration spaces and a game room.

The Capital One Plano campus is currently is located on 75 acres, and includes six office buildings, three dedicated parking garages and a multi-purpose conference center, which combined, equals approximately 1.3 million sf.

Capital One — located at 8058 Dominion Parkway — has approximately 5,900 associates at its Plano campus.

Building completion is currently scheduled for first quarter 2017. ​

Community Impact Newspaper
Dallas-Fort Worth-Arlington
http://communityimpact.com/2015/10/02/capital-one-to-break-ground-on-new-office-building-in-plano/Read more at {Source}
Tomball, Magnolia transportation map updateTomball, Magnolia transportation map updatehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107092015-10-06T05:00:00Z

​​​​TOMBALL, MAGNOLIA - The latest transportation updates have been released. What better way to be aware of slowdowns than a map. For more on the exact projects, please click on the link below.​ 


1-The Grand Parkway segments F-1, F-2 and G
Timeline: July 2013-December 2015 Cost: $1 billion

2-Honea Egypt Road widening
Timeline: early July-early 2017 Cost: $3.8 million

3-Medical Complex Drive extension
Timeline: summer 2013-late 2015 Cost: $5.88 million

4-FM 1488 overpass at FM 149
Timeline: March 2015-late summer 2017 Cost: $27.65 million

5-FM 149 improvements
Timeline: late 2014-fall 2015 Cost: $3.7 million

6-Hufsmith-Kohrville Road  Segment 6 widening
Timeline: mid-2016 Cost: $7.9 million

Community Impact Newspaper
Houston-The Woodlands-Sugar Land
Infrastructure & Transportation

Click here to see Market Research on Houston area infrastucture and transportation data.

Read the full article at {Source}
Unemployment rate 'on a Mission': lowest in 8 yearsUnemployment rate 'on a Mission': lowest in 8 yearshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107212015-10-06T05:00:00Z

​​​MISSION - The City of Mission recorded its lowest unemployment rate for the month of August in eight years and shows signs of dropping even lower, according to the latest figures provided by the Texas Workforce Commission​.

Mission's jobless rate dropped to 6.1 percent — the lowest since 2007 — as unemployment has decreased steadily since it rose to over 10 percent in 2010 in the middle of the recession. 

Meanwhile, Mission's overall employment has increased with 30,550 people working in August, according the Workforce Commission.

The 6.1 percent unemployment for August is lower than July's 6.4 percent and still better than the 7.3 percent unemployment rate in August 2014.

"Dropping by nearly a point over last year and coming down even further from July is an indication that we are doing something right, but it also suggests that businesses continue to grow and hire more personnel," said Alex Meade, Mission Economic Development CEO.

Mission's unemployment rate is lower than the combined McAllen-Edinburg-Mission metro area's 7.9 percent. However, the county's rate is one of the lowest in years.

In addition, Mission could see a further decline next month — as the jobless rate typically drops by half a point from August to September — perhaps even down to the mid 5 percent range. ​

Texas Border Business
http://texasborderbusiness.com/mission-texas-jobless-rate-lowest-august-in-8-years-lower-than-metro-area/Source: {Source}
Fort Worth dock apartments near Pier One buildingFort Worth dock apartments near Pier One buildinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107242015-10-06T05:00:00Z

​​​FORT WORTH - Three acres of land near the Pier One Imports Building in Fort Worth is under contract to a Phoenix-based company for development of an apartment community.

Alliance Residential is buying the land at the corner of Summit Ave. and West Fifth St. on the western fringe of downtown.

Alliance intends to build a 345-unit apartment community on the land, including some two-story brownstones.

The building, which will have six stories on the west and seven stories on the east, along with a one-acre outdoor amenity level located on the building's second level.

It is being designed by GFF architects in Fort Worth and will be called Brownstone 5th and Summit.

Dallas Morning News
Dallas-Fort Worth-Arlington
http://www.bizjournals.com/dallas/blog/morning_call/2015/10/developer-plans-345-unit-apartment-community-near.html?iana=ind_creRead the full article at the {Source}
Baylor Scott & White reaches hot temp with expansion in McKinneyBaylor Scott & White reaches hot temp with expansion in McKinneyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107232015-10-05T05:00:00Z

​McKINNEY - Baylor Scott & White Health is expanding its McKinney medical campus with a new office building adjacent to the health care system's existing medical office building.


The three-story, 75,000-sf Baylor McKinney II medical office building at 5252 W. University Dr. will help meet a growing demand for health care services in the North Texas city.

"McKinney, Dallas and Fort Worth are some of the fastest-growing cities in the country, and residents' health care needs are increasing right along with that growth," said Baylor CEO Joel Allison, in a statement.

"There aren't enough physicians to treat local residents, plus residents are underserved in a number of medical specialty areas, especially surgical specialties," he added. "We expect that the new facility will help us meet some of that growing demand."

Baylor Scott & White affiliates are expected to lease the majority of the new building.

Construction on Baylor McKinney II is slated for completion in September 2016.​

Dallas Business Journal
Dallas-Fort Worth-Arlington
http://www.bizjournals.com/dallas/news/2015/10/01/baylor-scott-white-to-expand-medical-footprint-in.html?iana=ind_creRead more at the {Source}
Tomball and Magnolia August 2015 home salesTomball and Magnolia August 2015 home saleshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107022015-10-05T05:00:00Z

​TOMBALL - Tomball home sales data by ZIP codes for August have been released by the Tomball Community Impact Newspaper. The August 2015 homes sales were released in September.

Community Impact Newspaper
Houston-The Woodlands-Sugar Land

​For more Houston housing data click here to see Market Research!

Source: {Source}
Houston Thor Equities strikes $125M Kirby CollectionHouston Thor Equities strikes $125M Kirby Collectionhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107112015-10-05T05:00:00Z

​​HOUSTON - Thor Equities will start construction next month on the Kirby Collection, a 1 million-sf mixed-use project on Kirby Dr. in Houston’s Inner Loop.

The $125 million project will deliver a 25-story residential tower with 200 apartments, 210,000 sf of office and 65,000 sf of retail space with completion expected in late 2017.

Thor Equities’ project will deliver apartments into the heart of the Inner Loop multifamily market, where thousands of units have been constructed in the last two or three years.

The site is on the west side of Kirby Dr., a block north of Richmond Ave. and includes the site of the former Settegast-Kopf funeral home.

Realty News Report
Houston-The Woodlands-Sugar Land

​Looking for more data on the Houston market? Click here for Market Research.

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