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RECON for January 7, 2022RECON for January 7, 20222022-01-07T06:00:00Z2022-01-07T06:00:00Z
RECON Texas Real Estate Research Center
White ranch-style house with lush green grass and large tree
What's happening in today's RECON? Houston Methodist planning two hospital expansions, 78 percent of real estate agents say landscaping affects property values, and 546-acre movie studio coming to Bastrop. Keep reading for the details on all this and more. (Photo from Center files.)
January 7, 2022

Most real estate agents say poor landscaping negatively affects home value

WASHINGTON (Trees.com) – According to a survey by Trees.com, 78 percent of real estate agents say poor landscaping negatively affects property values. 

​Around 24 percent of professionals say poor landscaping can reduce a home's value by 10 percent, while 22 percent say the value decreases by 20 percent. Another 18 percent predict a home's value drops by 30 percent or more. 

Over three-fourths of respondents say poor hardscaping—non-living aspects of an outdoor design, such as structural or decorative elements—negatively impacts home values. 

The landscaping elements that add the most value to a home include grass (64 percent), trees (59 percent), and flowers (52 percent).

According to the survey, 91 percent of agents say adding just one healthy tree can increase property value.

For hardscaping, real estate agents recommend adding or improving decks (58 percent), driveways (54 percent), and an outdoor kitchen (47 percent) to add the most value.

To compile the data, Trees.com surveyed 1,250 currently licensed real estate agents across the country.
Today is your last chance to get your hands on our limited-edition Texas Real Estate Research Center Annual Report + 2022 Calendar. Tell us your business pain points by the end of the day on Jan. 7, 2022, to get a copy. Take the two-question survey here. 

Houston Methodist planning Sugar Land, Energy Corridor expansions

HOUSTON (Houston Business Journal) – Houston Methodist is expanding its medical office campuses in Sugar Land and the Energy Corridor.

In mid-December, construction started on a six-story, 160,000-sf building and a seven-story, 1,150-car garage at 16655 Southwest Fwy. in Sugar Land. Specialties will include neurology, cardiovascular, and family medicine.

McCarthy Building Cos. is developing the $57 million project, which will deliver in first quarter 2023. 

This quarter, work will start on another six-story, 160,000-sf medical office building at the Houston Methodist West campus at 18500 Katy Fwy. in Houston. It will offer physical therapy, orthopedics, and other specialties. 

The $65 million project will also include a six-level, 1,000-car garage. Vaughn Construction is the general contractor. Completion is set for second quarter 2023. 

Both projects were designed by Page.​
Texas Housing InsightTexas housing sales slowed in October but trended upward amid continued supply constraints. Higher mortgage interest rates and double-digit home-price appreciation chipped away at housing affordability. The relatively low level of inventory available for sale is the greatest challenge to Texas' housing market. The state's diverse and expanding economy, favorable business policies, and steady population growth, however, support a positive outlook. Read our latest Texas Housing Insight for more.

546-acre movie studio, entertainment campus prepares for first phase

BASTROP (Austin Business Journal) – Bastrop Colorado Bend LLC is preparing for the first phase of Bastrop 552, a film studio and entertainment district at 1240 Lovers Ln. 

The first phase will include:
  • six studios totaling 108,000 sf, 
  • a three-story office building totaling 46,000 sf, 
  • 108,000-sf mill house, and 
  • warehouse and supporting infrastructure. 
DCA Construction LP is the general contractor, Carlson Brigance & Doering Inc. is the civil engineer, and STG Design is the designer. 

The first phase will be complete in August 2023. 
Texas Weekly Leading IndexThe Texas Weekly Leading Index increased for a second straight week the week ending Dec. 2 as the economy continues to recover from the pandemic. COVID-19 cases reached a trough at the end of November but are increasing due to the Omicron variant and concerns about a possible outbreak. Read more here.

Industrial park underway on historic Denton site

DENTON (Holt Lunsford Commercial) – Urban Logistics Realty is developing Urban District 35, a four-building industrial park within the landmark Acme Brick Co. plant site. 

Fronting I-35, the 440​,663-sf development will have 28- to 32-ft clear heights, 60-ft speed bays, and ample car and trailer parking.    

Completion is set for fourth quarter 2022.

Holt Lunsford Commercial will handle leasing.
In Other News: From the NewsTalk Texas feed
Looking for more real estate news? Our NewsTalk Texas feed has all the latest headlines. Here's a sample:

Jackson-Shaw developing 224-acre mixed-use project

​​​GEORGETOWN (Austin Business Journal) – Jackson-Shaw Co. is developing a 224-acre mixed-use project alongside I-35, north of the intersection with SH 195. 

The development will include 1.7 million sf of industrial space, 392,000 sf of commercial space, and 388 multifamily units. 

Jackson-Shaw will receive $13.1 million in tax incentives. In return, the company will complete the first phase of the project by June 2025 and have at least $24 million in capital expenditures during the first phase. 

Construction begins within a few months. 
market viewer screen shotTexas Realtors' MarketViewer tool helps members and their clients quickly understand the market statistics in their area. This powerful tool is a member benefit available exclusively to Texas Realtors and local Realtor associations in Texas. Data are compiled and analyzed through a research agreement between Texas Realtors, the Texas Real Estate Research Center, and all MLSs across the state. 

Merrick Engineering breaks ground of 400K-sf manufacturing facility

WACO (Waco Tribune-Herald) – Merrick Engineering has broken ground on a 400,000-sf manufacturing facility at 7201 Mars Dr. 

The $33 million facility will sit on 71 acres in Texas Central Park. 

The city and McLennan County have approved almost $2.1 million in grants and tax breaks for Merrick. 
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560K-sf industrial project slated for Northeast SA

SAN ANTONIO (San Antonio Business Journal) – Milam Real Estate Capital and PCCP LLC are developing a 560,500-sf speculative industrial building along I-10 near Loop 410. 

The building will be one of seven buildings totaling three million sf in Milam’s 340-acre Rosillo Creek Industrial Park. 

Cavender Hill will handle leasing.
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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 Texas Real Estate Research 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 Wiley. The Texas Real Estate Research Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.

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