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RECON for September 8, 2020RECON for September 8, 20202020-09-08T05:00:00Z2020-09-08T05:00:00Z
RECON Real Estate Center
iBuyers
While iBuyers currently account for only a small fraction of all Texas home sale transactions, their presence could increase as consumer preferences change in the wake of the COVID-19 pandemic. Center Senior Data Analyst Joshua Roberson elaborates in his latest TG article. For even more, listen to his Red Zone podcast interview. (Photo from Center files.)
September 8, 2020

Active-adult community underway in Iowa Colony

​​​​​BRAZORIA COUNTY (Realty News Report) – Serenity Communities by Gracemark Homes is developing Serenity at Meridiana, an active-adult community for homebuyers age 55 and older.

The 45-acre gated community will have 144 for-sale home sites. Gracemark will be the exclusiv​​​​e builder, offering two-and three-bedroom floor plans priced from the mid $200,000s to the upper $400,000s.

Pre-sales begin next month with two model homes opening in second quarter 2021. 

Amenities will include a pool and pickleball and bocce ball courts.

The project will be in Meridiana, a master-planned community along SH 288 in Iowa Colony, south of Houston.​
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OM Housing building affordable housing community off I-30

GARLAND (Dallas Morning News) – OM Housing is building the 112-unit Lakeview Pointe Apartments, a $30 million rental community on Lake Ray Hubbard. 

The 122,000-sf project at 3102 Zion Rd. ​​will have a third of the units priced at market rate. The rest will be at affordable rates. 

Amenities will include a swimming pool, clubhouse with kitchen, coffee lounge, and children's activity center.

The community will be built using tax credits from the Texas Department of Housing and Community Affairs. 

Bank OZK, Capital One Bank, Freddie Mac, and Boston Financial provided financing for the project.

HEDK Architects designed the project. The general contractor is Spring Valley Construction.

Completion is set for fall 2021.
The Texas Weekly Leading Index decreased the last week of August after increasing the previous week. Despite the decrease, the leading index's overall trend indicates the state's economy is on the path to recovery, albeit at a slower rate. Our latest report has the details. 

UT Health San Antonio working on research hospital

​​​SAN ANTONIO (San Antonio Business Journal) – UT Health San Antonio is developing the $400 million University of Texas Health Specialty and Research Hospital.

The 144-bed facility will be in the South Texas Medical Center at the corner of Wurzbach Rd. and Floyd Curl Dr. It will be connected to the UT Health San Antonio MD Anderson Cancer Center by a climate-controlled bridge. 

It will create between 750 and 800 jobs. 

Construction starts in spring 2021. 
Sketchy drawing of commercial buildingsThe Real Estate Center's Texas Quarterly Commercial Report looks at past, present, and future commercial real estate activity in the state's four major metropolitan areas. It covers the office, retail, and warehouse sectors. Read and download the report for free, and subscribe to know when the next issue is published. 

$200M mixed-use tower under construction in Uptown

​​​DALLAS (Dallas Morning News) – KDC and H-E-B are building a mixed-use tower on the site of a former Albertson’s store on McKinney Ave.

Central Market will anchor the $200 million project, which will include offices and shops.​

Omniplan and Lake|Flato designed the 19-story tower. Balfour Beatty Construction is the general contractor.

Construction will begin in early 2021 and take two years.
NewsTalk Texas logoHungry for more Texas real estate news? Then feast your eyes on NewsTalk Texas, our online news database. Here are a few of the stories you'll find there this week: NewsTalk Texas is updated each weekday, throughout the day. 

H-E-B’s new West Side store opens this fall

​​SAN ANTONIO (San Antonio Business Journal) – H-E-B is finishing up work on its 111,553-sf store at 14325 Potranco Rd. 

The $15.4 million store​ will be the first anchor retail tenant at 2,400-acre Stevens Ranch master-planned community. It opens this fall. 

Stevens Ranch will include single-family home communities, public schools, and more than 90 acres for future growth.
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Did you know you can get notified every time one of our new economic reports is released? Check out our email notification feature to get the latest economic data sent directly to your email inbox for free. 

KDC completes McKinney corporate campus

​​​McKINNEY (REBusiness Online) – KDC has completed a 100,000-sf corporate campus for SRS Distribution Inc.

The four-story, Class A building is within the Hub 121 mixed-use development. About 150 employees will work at the new campus.

Construction began in March 2019. It topped out ​last October. ​

Gensler designed the project, and Adolfson & Peterson was the general contractor. 
Communication Matters video seriesThe Real Estate Center's Texas Home Price Index measures price appreciation changes for residential single-family homes. It provides data for eight different Texas metros across three different price ranges.

Denver developer starts on MOB

​​​​​​CYPRESS (REBusiness Online) – Denver-based NexCore Group has broken ground on North Cypress Physician Office Building II, a 110-374-sf medical office building.

The four-story property will be at 10425 Huffmeister Rd. in the HCA Houston Healthcare North Cypress campus.

Opening is set for next year. 
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Copyright © 2020, All rights reserved.
Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Real Estate Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder. The Real Estate Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.

https://www.recenter.tamu.edu/news/recon/?Item=407

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