Saturday, March 4, 2017

Downtown District Launches 'Plan Downtown' To Study Next Phase Of Development






Officials with Houston Downtown Management District announced Monday the launch of a 20-year plan that will outline recommendations for planning, development and design in and around the city center. 

The project, called Plan Downtown, will offer strategies for growth in an effort to better position downtown for a competitive future, the district said in a statement.

"Thirteen years have gone by since Downtown's last comprehensive plan," Bob Eury, the district's executive director said in the Monday announcement. "We've made tremendous progress."

The project will be funded by the district and Houston First Corp. It will be different from, but relate to the principles of, the city's overall general plan adopted in 2015.

A 17-member leadership group for Plan Downtown will include representatives of the city of Houston, Harris County, Central Houston, Downtown Redevelopment Authority / TIRZ No. 3, Buffalo Bayou Partnership and Theater District Houston, along with officials from East Downtown, Greater East End, Greater Northside and Midtown.

The process of creating the vision will include a series of meetings and public workshops with existing and potential downtown residents, employees and visitors, elected officials, neighborhood leaders and service providers for the homeless. Meetings are expected to begin this spring with a plan expected in fall.

The final plan will be a "roadmap that identifies stakeholders areas of responsibility, designates a phasing strategy and pinpoints funding opportunities for projects and concepts," the district said.
FLASHBACK: The storied history of Houston's Rice Hotel

"Having a thriving core is critical to Houston's success and Downtown continues to be the heartbeat of the region in many ways — culturally, economically and even in terms of our civic institutions — and it's a vital part of what makes Houston such a dynamic place," Pat Walsh, director of planning & development for the city of Houston, said in a statement.
Some of the topics to be addressed include:
•             Attractions, hospitality and culture
•             Economic potential
•             Innovation and education
•             Infrastructure, mobility and transportation
•             Livability, connectivity and public space
•             Social equity
•             Technology
•             Urban planning, development and design
Asakura Robinson — a planning, urban design and landscape architecture firm with offices in Houston — will draft the plan, along with consultants from Sasaki, Traffic Engineers Inc. and HR&A Advisors,



The Downtown District was formed in 1995 to revitalize the urban core. Officials have used public funds and private resources on area improvements focusing on the city blocks bordered by Interstate 10, Highway 59 and Interstate 45. It is operated under the leadership of a 30-person board, and funding comes from an assessment on downtown property owners


In 2004, city officials forged a comprehensive plan to transform Houston's central business district. Now, 13 years later, city officials will come together once again to decide the next phase of Downtown's metamorphosis. “We’ve made tremendous progress [since the last comprehensive plan],” said Bob Eury, executive director of the Downtown District. "A few of the success stories include: a major opportunity for green space, which was realized with Discovery Green; greater neighborhood connectivity to the George R. Brown Convention [Center], which recently coalesced as Avenida Houston; and more residential, which we accomplished with the Downtown Living Initiative.” The 17-member leadership group that will form the new plan is composed of representatives from the City of Houston, Harris County, Central Houston, the Downtown Redevelopment Authority / TIRZ No. 3, the Buffalo Bayou Partnership and Theater District Houston, along with representatives from East Downtown, Greater East End, Greater Northside and Midtown. Asakura Robinson has been selected to draft Plan Downtown with a consultant team that includes Sasaki, Traffic Engineers Inc. and HR&A Advisors.

Read more at: https://www.bisnow.com/houston/news/economy/downtown-district-launches-plan-downtown-to-study-next-phase-of-development-71539?utm_source=CopyShare&utm_medium=Browser
Downtown District Launches 'Plan Downtown' To Study Next Phase Of Development Flickr: Eflon Downtown Houston skyline at night In 2004, city officials forged a comprehensive plan to transform Houston's central business district. Now, 13 years later, city officials will come together once again to decide the next phase of Downtown's metamorphosis. “We’ve made tremendous progress [since the last comprehensive plan],” said Bob Eury, executive director of the Downtown District. "A few of the success stories include: a major opportunity for green space, which was realized with Discovery Green; greater neighborhood connectivity to the George R. Brown Convention [Center], which recently coalesced as Avenida Houston; and more residential, which we accomplished with the Downtown Living Initiative.” The 17-member leadership group that will form the new plan is composed of representatives from the City of Houston, Harris County, Central Houston, the Downtown Redevelopment Authority / TIRZ No. 3, the Buffalo Bayou Partnership and Theater District Houston, along with representatives from East Downtown, Greater East End, Greater Northside and Midtown. Asakura Robinson has been selected to draft Plan Downtown with a consultant team that includes Sasaki, Traffic Engineers Inc. and HR&A Advisors. Houston Skyline Courtesy of TCR Downtown Houston skyline Plan Downtown, which will be presented in late fall of this year, will examine how Downtown can leverage a changing role to grow its economic competitiveness. To that end, the study will investigate interrelated topics including: Attractions, hospitality and culture Economic potential Innovation and education Infrastructure, mobility and transportation Livability, connectivity and public space Social equity Technology Urban planning, development and design

Read more at: https://www.bisnow.com/houston/news/economy/downtown-district-launches-plan-downtown-to-study-next-phase-of-development-71539?utm_source=CopyShare&utm_medium=Browser
Downtown District Launches 'Plan Downtown' To Study Next Phase Of Development Flickr: Eflon Downtown Houston skyline at night In 2004, city officials forged a comprehensive plan to transform Houston's central business district. Now, 13 years later, city officials will come together once again to decide the next phase of Downtown's metamorphosis. “We’ve made tremendous progress [since the last comprehensive plan],” said Bob Eury, executive director of the Downtown District. "A few of the success stories include: a major opportunity for green space, which was realized with Discovery Green; greater neighborhood connectivity to the George R. Brown Convention [Center], which recently coalesced as Avenida Houston; and more residential, which we accomplished with the Downtown Living Initiative.” The 17-member leadership group that will form the new plan is composed of representatives from the City of Houston, Harris County, Central Houston, the Downtown Redevelopment Authority / TIRZ No. 3, the Buffalo Bayou Partnership and Theater District Houston, along with representatives from East Downtown, Greater East End, Greater Northside and Midtown. Asakura Robinson has been selected to draft Plan Downtown with a consultant team that includes Sasaki, Traffic Engineers Inc. and HR&A Advisors. Houston Skyline Courtesy of TCR Downtown Houston skyline Plan Downtown, which will be presented in late fall of this year, will examine how Downtown can leverage a changing role to grow its economic competitiveness. To that end, the study will investigate interrelated topics including: Attractions, hospitality and culture Economic potential Innovation and education Infrastructure, mobility and transportation Livability, connectivity and public space Social equity Technology Urban planning, development and design

Read more at: https://www.bisnow.com/houston/news/economy/downtown-district-launches-plan-downtown-to-study-next-phase-of-development-71539?utm_source=CopyShare&utm_medium=Browser

Friday, March 3, 2017

Homes Inside Beltway Under 200k Coming to Houston




  Texas homebuilder Plantation Homes has launched a line of new home plans priced from the $160,000s, according to the Houston Business Journal, which notes that the figure is well below the average $280,000-plus price tag on a single-family home in Houston.

    The new line features nine plan options that span 1,425 to 2,592 square feet across one or two stories and are situated on 45-foot lots. Plantation Homes is currently building a model home for the line within the Beltway 8 loop on the city’s northwest side.

    The brick-clad homes will feature amenities including kitchen island workstations and energy efficient construction.

The decision by Plantation Homes to offer home options below the $200,000 threshold comes as more builders turn their attention to the demand potential in the entry-level market.

Atlanta-based homebuilder Ashton Woods is set to introduce new-home communities aimed at entry-level buyers in Atlanta, central Florida, Austin, TX, and Phoenix. That announcement followed the launch this past fall of Meritage Homes' LiVE.NOW. brand and, more recently, Toll Brothers’ new T|Select line.

Common features among these entry-level endeavors include smaller footprints, energy-efficient construction and systems and a lower price point. In many cases, they are marketed specifically at millennial buyers.

Plantation, Toll Brothers and Meritage all targeted Houston with their lower-priced lines as that market was largely protected from the housing bubble and so has recovered more quickly from the market’s crash while retaining some measure of affordability.

In November, the National Association of Realtors noted that first-time buyers, which underpin entry-level demand, accounted for 35% of home sales last year, up from 32% in 2015 and the highest percentage since 2013. Those under the age of 35 accounted for six in 10 first-time transactions in 2016,

source: http://www.constructiondive.com

Wednesday, March 1, 2017

Zillow Breakeven Horizon Report

Mortgage interest rates are rising. Apartments rents, at least at the high end, are falling. And oil prices are heading up, bringing confidence in Houston's housing market along with it.
So, is it better to buy a home or rent?

A new study by real estate listing and information firm Zillow says if you plan on staying put at least two years, buying may be the better option.

Zillow's Breakeven Horizon report says buying is more cost effective than renting in Houston once you've stayed in place for 1 year and 11 months. The report factors in things such as expected rent increases, price-to-rent ratios, home repair costs, interest rates, and even what you would make as a renter investing your down payment elsewhere.

Some local realty experts think the Zillow break-even point may be too optimistic. Will Holder, president of Trendmaker Homes, estimates it would take at least three years to break even based on typical trans-action costs of 10 percent to buy or sell a home. Those costs include things like sales commissions and closing costs.

In Zillow's report, however, Houston mirrored the nation's break-even point of just under two years. That's almost six months longer than it was a year ago, according to Zillow.

"We don't expect home prices to be increasing as quickly, which is why the break-even has lengthened," Skylar Olsen, senior economist at Zillow, explained.

The Zillow study is based on an average rent of $1,560 a month at the end of 2016, which fell 1.5 percent for the year and is projected to drop slightly this year. That factors in both apartments and houses.
Homes in the Houston market appreciated 6.6 percent in 2016, and Zillow projects that number to fall to 3 percent in 2017.

Often, it all boils down to location. In more expensive parts of the U.S. such as San Francisco and Los Angeles - where the cost to buy is high and appreciation has leveled off - it will take longer than the national average of just under two years to break even. It could take more than four years, according to Zillow.
In pricier areas, such as West University and Hunters Creek Village, break-even points are similar to the hottest West Coast markets. That's because it takes a while to recoup the higher transaction costs.
Buyers also can expect longer-than-average times to break even in some northwest regions of town such as Cypress and Tomball, according to Zillow, while those in Pasadena and Baytown are quicker.
Areas with good schools, a short supply of houses for sale and rising prices do best.

"If you're buying a brand new home where you could sell it and break even, it used to take six or seven years to get that done," said Shad Bogany, a broker associate with Better Homes and Gardens Real Estate Gary Greene.

"Inside the Loop, we're seeing people making money even after owning six months. It just depends on where it is. The king is still location."


Today, buyers may be able to find deals on new homes as the market works through an oversupply that resulted from builders ramping up when Houston was adding 100,000 jobs a year before oil prices collapsed. There are about 1,300 completed new houses available in the Houston area, compared with 800 in a normal market, according to Holder of Trendmaker Homes.

"It's kind of a window of opportunity for home shoppers that are interested in new homes," Holder said.
Holder has seen a change in attitudes among buyers as oil prices rose past the $50 mark.
"A year ago, when oil was headed for $30 a barrel, people were afraid they were going to lose their job," Holder said. "There was a lot of reluctance in the market."

Despite concerns about the economy, Houston area single-family home sales reached an all-time high of 76,449 in 2016, according to the Houston Association of Realtors. Prices rose too, with the median gaining 4.5 percent to $221,000.

While new homes may be plentiful, Houston's supply of homes for sale overall is not. The current 3.3 months of inventory is well below the six months of inventory considered to be a balanced market.

Rising interest rates won't help that, according to Bogany, as homeowners will forgo moving up to larger homes because they don't want to give up their low-interest-rate loans.

"The greatest obstacle to homeownership in Houston right now is about finding the homes," Bogany said.

"The $150,000-to-$250,000 range is probably the hottest market in Houston simply because that's where rents are equal to what monthly payments are. It's still cheaper in Houston to own something versus rent."

Wednesday, February 8, 2017

The Ultimate Guide To Home Improvement:






The Ultimate Guide To Home Improvement: 57 Common Project Costs

Any homeowner knows there’s always something to be done around the house. Whether it’s updating an outdated appliance or fixing a leaky faucet, home improvement projects come in all shapes and sizes – and with all kinds of price tags.

According to Home Advisor's 2016 True Cost Survey, not only are homeowners completing more maintenance and improvement projects than ever, they’re also spending more money. In February 2016, the number of homeowners who reported spending more than $1,000 on small projects had increased 13 percent over the prior 12 months. Homeowners also said they expected to spend a lot more on major home improvement projects in the future.

So where’s all that money going? Based on national averages, Home Advisor broke down the costs of 57 common projects in nine categories to give us an idea. From the least expensive to the most, check how each area of home improvement adds up so you can be prepared for future projects.

Lawn and Garden

Trim or Remove Trees & Shrubs

Average cost: $666



Sprinkler Repair

Average cost: $227



Mow & Maintain Lawn

Average cost: $160



Remove Leaves

Average cost: $313



Sprinkler System Maintenance

Average cost: $81



Install Sod

Average cost: $1,735


Painting

Paint a Home Exterior

Average cost: $2,594



Paint a Home Interior

Average cost: $1,669


Electrical

Install a Ceiling Fan

Average cost: $242



Install Electrical Wiring

Average cost: $1,285



Hire an Electrician

Average cost: $322



Install Light Fixture

Average cost: $439



Install a Generator

Average cost: $3,225


Doors and Windows

Install Windows

Average cost: $4,759



Replace Window Glass

Average cost: $250



Install Weather Stripping

Average cost: $245



Clean Windows

Average cost: $206



Install a Garage Door

Average cost: $1,063



Repair a Garage Door

Average cost: $213



Install a Door

Average cost: $876



Install a Screen

Average cost: $276



Repair a Door

Average cost: $221


Plumbing

Install Water Heater

Average cost: $943



Install New Plumbing Pipes

Average cost: $1,058



Install a Faucet

Average cost: $242



Repair Clogged Drain

Average cost: $200



Repair Water Heater

Average cost: $501



Install a Sump Pump

Average cost: $1,062


Install a Septic Tank

Average cost: $4,610



Hire a Plumber

Average cost: $299


HVAC

Repair a Boiler

Average cost: $348



Repair a Furnace

Average cost: $268



Install a Furnace

Average cost: $3,921



Clean Ducts & Vents

Average cost: $339


Install an AC Unit

Average cost: $5,234



Repair an AC Unit

Average cost: $315


Roofing

Repair a Roof

Average cost: $676



Install a Roof

Average cost: $6,868



Clean a Roof

Average cost: $410



Install Holiday Lighting

Average cost: $378



Hire a Roof Inspector

Average cost: $223


Landscaping

Repair a Deck

Average cost: $1,422



Seal or Waterproof Deck

Average cost: $798



Install Sprinkler System

Average cost: $2,457



Build a Deck

Average cost: $6,915



Install Landscaping

Average cost: $3,195



Install Patio or Pathway

Average cost: $3,010


Additions and Remodeling

Install a Shower

Average cost: $3,165



Install a Bathtub

Average cost: $2,896



Bathroom Remodel

Average cost: $9,313



Install a Faucet

Average cost: $242



Install Cabinets

Average cost: $4,560



Reface Cabinets

Average cost: $6,688



Install Countertops

Average cost: $2,667



Refinish Cabinets

Average cost: $2,564

Get a custom estimate

Kitchen Remodel

Average cost: $20,474



Install Flooring

Average cost: $2,852