What about the traffic congestion Mr Mayor?

I'm still waiting to see any improvement in the traffic situation in Houston. It has become abundantly clear that city hall is clueless on how to deal with the ever growing traffic congestion problem. Metro is inept beyond measure. I can't think of a program they implemented in the last 30 years that reduced traffic by any measure - much less made getting around the city any easier. Time to hold politicians accountable and so let us look back to what Mayor Turner had to say on this matter.

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Testifying at TX Transportation Comm

Jay Blazek Crossley, Jan 28, 16.

Newly elected Houston Mayor Sylvester Turner traveled to Austin to deliver a rousing speech to the Texas Transportation Commission (TTC) today saying that the transportation strategies of the past are not sufficient to meet today’s needs. The TTC plans to allocate $1.3 billion to road expansion projects today, the first major spending of Prop 7 funds.

He said that an approach that focuses on single occupant vehicle road expansion is actually exacerbating our congestion problems in Houston, that “we need a paradigm shift,” and that “congestion has not been alleviated.”

He requested that the TTC consider three points:
1. We need a paradigm shift in prioritizing mobility services that prioritize reducing single occupant vehicle trips.
2. We must invest more in our urban cores.
3. We need TXDOT to collaborate with our cities to find comprehensive solutions and ensure that the last mile infrastructure receives the same attention as the freeways.

Mayor Turner presented the work of TXDOT - Houston District staff on the proposals for the I-45 Corridor in Houston as a good example of the type of collaboration he believes is necessary.

Countdown to Super Bowl

HOUSTON - It was a super morning start Wednesday at William P. Hobby Airport.

The third of four countdown clocks to Super Bowl LI was unveiled at the airport.

It is the second clock to go at an area airport. If you remember, a clock was unveiled at George Bush Intercontinental Airport back in February.The clock is the located on the central concourse ticketing level near the TSA checkpoint.

Grand Central Park Master Plan - Conroe, Texas

The Employment Situation in February – March Madness?

The Employment Situation in February – March Madness?

BY ROBERT DENK on MARCH 4, 2016

The jobs report for February showed a strong bounce back from a soft January with upward revisions to prior months. In a separate report last week weak fourth quarter GDP growth was revised up slightly, and inflation has moved closer to the Fed’s 2% target in each of the last three months. Would an increase in the federal funds rate at the upcoming March Federal Open Market Committee (FOMC) meeting be sheer madness? Investors seem to think so.

The Bureau of Labor Statistics (BLS) reported payroll employment expanded by 242 thousand in February and added a total of 30 thousand to the December and January counts. The unemployment rate was unchanged at 4.9% with large gains in both the labor force (555 thousand) and the number of employed persons (530 thousand). The labor force participation rate has gained 0.5 percentage point in recent months, reaching 62.9%, still low but erasing declines in 2015.

The Bureau of Economic Analysis (BEA) revised fourth quarter GDP growth up from 0.7% to 1.0%. In contrast to the slowdown in GDP growth, the BEA reported that inflation as measured by the price index for personal consumption expenditures, has accelerated. After hovering at 1.3% for most of 2015 the Fed’s preferred measure of inflation has climbed to 1.7% over the last three months.

Weak fourth quarter economic growth, soft January employment numbers and anxiety about the domestic effects of declines in economies and financial markets abroad have raised doubts about the timing of the Fed’s next interest rate increase. After the initial increase in December, the March meeting was the favorite among analysts. In the wake of recent economic data investors betting on the timing of the next hike have virtually taken the March meeting off the table (bets).

It will be interesting to see if today’s strong labor market report improves the odds of a March move among investors in the coming two weeks before the FOMC meeting. It will be interesting to see if the bets payoff.




source:eyeonhousing.org

Building Permits awarded January 2016

Building permits awarded in January by the city of Houston fell 31 percent, with declines in both commercial and residential sectors, according to a report from the Greater Houston Partnership based on city permit data.

January saw $400 million worth of permit activity compared with $580 million last year, according to the report. The 12-month total fell 7.3 percent to $8 billion at the end of January.

Multifamily building permits saw the steepest drop, declining 94 percent to $3 million. The slowdown was expected as there are more units under construction than there likely will be demand for.

Across the area, there are close to 30,000 apartment units under construction, but only 4,380 are needed based on job projections, the partnership said. As a rule of thumb, every five new jobs creates demand for one apartment, and the partnership's 2016 employment forecast is for 21,900 new jobs.

source:chron.com

Downtown rocketing toward Super Bowl LI and beyond

By Ken Hoffman

Houston's downtown is getting a makeover for Super Bowl LI in 2017. Look for sidewalk dining, landscaping and new stages.


So many bulldozers and cranes and jackhammers and orange cones are swarming downtown Houston, it looks like a "Bob the Builder" cartoon in real life. Or any highway in Houston.

Earlier this week, I took a walk around - with a few detours here and there - all the construction going on outside the George R. Brown Convention Center, getting our city ready for the 2017 Super Bowl.

The 1,000-room Marriott Marquis Houston hotel opens in October, a 100,000-square-foot pedestrian zone with outdoor cafes is planned in front of the convention center, retail stores and 15 restaurants are being built along Avenida De Las Americas, and space has been cleared for enormous sculptures.

Things to do in downtown Houston after dark!

It's called "Houston First Corp.'s Convention District Improvement Plan." It's costing $240 million, funded by a combination of hotel occupancy tax, parking revenue and money from venues. Houstonians are not being hit up for a dime. Fingers crossed on that.

It looks like a total makeover of the "Convention District," running from Toyota Center to Minute Maid Park, from the GRB to Caroline - more than 20 blocks long.

Maybe we shouldn't get too excited, though. I remember when we had the Super Bowl in 2004. Downtown was jumping with clubs and restaurants and outdoor stages. People got dressed up to go out. And downtown was only going to get busier and more robust. There were big plans …

Then the Super Bowl left, and most of those restaurants and clubs pulled up stakes or couldn't make it. Downtown became a ghost town after dark again.

I asked Peter McStravick, chief development officer, and Holly Clapham, chief marketing officer for the Houston First Corp., how we can be sure that downtown's rebirth 2.0 won't disappear after our next Super Bowl - like it did after our last Super Bowl.

"This project is based on five years of historical information and guidance from several studies," McStravick said. "Based on that information, the city approved the Downtown Living Initiative to boost new residential development. There are 3,000 units currently under construction, plus the existing units. So we will have a critical mass that will support new retail."

"New development along Avenida De Las Americas includes businesses that will be supported by people visiting Discovery Green, Minute Maid Park, Toyota Center, BBVA Compass Stadium and additional conventions filling up the Marriott Marquis and existing hotels," he said. "There will be more pedestrian traffic generated by the new east/west light rail line. So, yes, these projects are permanent and sustainable."

Clapham put it more succinctly: "We know what we're doing this time."

In 2004, the Houston Texans and NRG Stadium were relatively new. There was only one light rail line, also new. It was a work in progress.

The 2004 Super Bowl still was a memorable success. Record numbers attended downtown events. New England beat Carolina in a thriller, 32-29. At the time, it was the most-watched Super Bowl ever. Some sportswriters called it the "greatest Super Bowl of all time." You might recall that the halftime show suffered an unintended "wardrobe malfunction." Right, unintended.

Since then, the Houston booster club has been "under new management," and this crowd is super eager to bring more Super Bowls, more NCAA Final Fours, more All-Star Baseball games, more festivals and conventions, more Paul McCartney and Taylor Swift concerts and help the Houston Livestock Show and Rodeo grow even bigger. Houston recently sent word to World Wrestling Entertainment - we want another WrestleMania.

"We did study a study of what happened in 2004," Clapham said. "One of the primary reasons that businesses dried up was lack of a residential base and active sidewalks. We have already experienced the effect of new development. We ended 2015 with 762,000 hotel rooms booked in advance for 2016 and 2017. That's a record for the city, and 29 percent over 2014. We have 3,000 apartment units being built."

When all of the construction is done, target October, Houston will have a true downtown for people to gather in on New Year's Eve. There will be a sports bar at street level of the Marriott, partnered with a "Houston sports legend." I couldn't get anybody to name a name … but I'm guessing it's a former Astro who's in the Hall of Fame. You have two choices. By next year, maybe three. (Good luck, Jeff Bagwell.)

Currently, there are 5,000 hotel rooms in downtown. By Super Bowl 2017, there will be 8,000 rooms.

The Houston First Corp. is negotiating with restaurants that want in along the Avenida. The new Pappasitos on the ground level of the Hilton Americas-Houston is absolutely killing it; it's packed.

"As the culinary and cultural capital of the South, local flavor and local chefs are a focus and will definitely be included in the mix," Clapham said.

I did mention that she's the downtown's chief marketing officer, right?

An enormous (25-foot-by 35-foot-high) mobile sculpture called "Wings Over Water" will hover above the Fountain of the Americas on the south side of the pedestrian concourse. That will be a terrific meet-up place "if any of us gets lost."

The pedestrian zone will be brightly lighted, encouraging late-night strolls. No spooky danger corners or creepy alleys. There will be large open areas for festivals and entertainment.

"I see this district as the epicenter of major-league entertainment for Houston," Clapham said. "It's bookended with Minute Maid Park and Toyota Center. BBVA Compass Stadium is just blocks away. Discovery Green is thriving. Light rail connects the convention district to our theater and historic districts, the Museum District, Texas Medical Center and NRG Park. It's quite a concentration of attractions."

source:Chron.com

BUY vs RENT Index by Beracha, Hardin & Johnson