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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.

Infrastructure: 

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.
CBRE
Houston-The Woodlands-Sugar Land
Mixed-Use
https://www.cbre.us/research-and-reports/US-MarketFlash-Houston-CRE-Market-Shows-Resilience-in-Face-of-Hurricane-Harvey

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