Read King Properties Starts Third Houston Apartment Complex
A Houston-based developer is moving ahead on its third retail-anchored apartment complex. Read King Properties plans to bring a $60 million, 336-unit apartment complex to Humble, adjacent to its planned H-E-B-anchored shopping center, state records show. The estimated construction cost comes to $178,600 per unit. The retail-focused firm expects to start construction on the Groves […]
Foreclosure Looms for Houston Multifamily Investor
A local multifamily investor could lose two multifamily properties in a suburb of Houston to foreclosure at next month’s auction. Falls Apartment Group allegedly defaulted on $33.5 million in debt for the 468-unit Falls of Las Villas and the 514-unit Falls of Alta Vista, according to Roddy’s Foreclosure Listing Service. The debt equates to $34,100 […]
Burlington to buy 15 Conn’s Retail Leases in Bankruptcy
A recent retail bankruptcy is paving the way for a New Jersey-based department store. Burlington has acquired over a dozen real estate leases, including 10 in Texas, that were formerly held by furniture and appliance retailer Conn’s, the Houston Business Journal reported. The Woodlands-based Conn’s, led by CEO Norman Miller, filed for bankruptcy in July, […]
Chevron Spending $67 Million to Renovate Houston Headquarters
Plans for a $66.5 million renovation at Chevron’s downtown Houston offices have been set in motion, following the oil and gas giant’s relocation from California to Texas. Chevron, led by chairman and CEO Mike Wirth, is building out its Houston headquarters, with plans to renovate the upper levels of its 40-story building at 1500 Louisiana […]
Austin Code Change Could Slash Home Prices
It’s a weird time to be a YIMBY in Austin. On the one hand, the city’s development code and permitting process are far stricter than those of Dallas or Houston. This week, a court blocked what would have amounted to a $350 million development incentive to increase walkability in Austin’s developing South Central Waterfront neighborhood. […]
Cisco Systems Leases 27K in Downtown Austin
An international telecommunications company has eased some of the pain in downtown Austin’s office market. San Jose-based Cisco Systems leased 27,400 square feet in the 16-story Horizon Bank building at 600 West Fifth Street, the Austin Business Journal reported. The lease puts a small dent in the city’s office vacancy rate, which soared to new […]
GVA Sells Texas Apartments for $25M in “Forced Sale”
GVA Real Estate, an aggressive multifamily syndicator whose portfolio has landed in hot water over the last year, has sold an apartment complex in the Austin suburbs in a “forced sale.” GVA, which pools equity to buy property, sold 302 North apartments in Georgetown, for $25.3 million, according to property records filed with Williamson County […]
Judge Spikes $354M Development Incentive in Austin
Much of the area surrounding the old headquarters of the Austin American-Statesman newspaper isn’t pretty, but to a developer, it may as well be the Mona Lisa. Situated on the south shore of Lady Bird Lake and wedged between downtown and trendy South Congress, the parcels are currently home to sprawling parking lots and old […]
Judge Spikes $354M Development Incentive in Austin
Much of the area surrounding the old headquarters of the Austin American-Statesman newspaper isn’t pretty, but to a developer, it may as well be the Mona Lisa. Situated on the south shore of Lady Bird Lake and wedged between downtown and trendy South Congress, the parcels are currently home to sprawling parking lots and old […]
Daiso Expands in Texas With Pflugerville Shop
Daiso is opening yet another Texas store as it expands rapidly across Texas. The Japanese retailer leased 8,500 square feet at NewQuest Properties’ Stone Hill Town Center. The Pflugerville shop will give Daiso a foothold in one of the Austin metro area’s fastest-growing locations, as workers from the nearby Samsung and Tesla plants, as well […]
