CBRE: Houston shows resilience in face of HarveyCBRE: Houston shows resilience in face of Harveyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=177072017-09-08T05:00:00Z2017-09-09T01:00:00Z

​​​CBRE graph of top ten costliest natural disasters in US historyHOUSTON – CBRE's latest report,​ Houston CRE market shows resilience in face of hurricane Harvey, has been released. 

Below is a glimpse of the report: 

Houston’s land market is dominated by retail, industrial and single-family development, as the office and multifamily sectors were over-supplied prior to Harvey. 

Commercial land: 

Northwest Houston will remain the desired industrial land choice, and vacant commercial sites in the Port Houston area will be even harder to find. 

Single-family residential: 

From a single-family residential perspective, land prices will be tested as increases for construction and labor rise.
More than 73,000 National Flood Insurance Program claims have already been submitted and $13.2 million in advance payments have been issued. 

Displaced homeowners likely will lease Class A multifamily units and developers may look for sites to develop sooner than previously anticipated.


In addition, new development requirements for flood control and water drainage will likely be imposed on new, large single-family land tracts despite existing drainage requirements for new subdivisions, such as detention ponds, curbs, gutter drains and levees.
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