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Development List For Buildings In Houston


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42 minutes ago, hindesky said:

Where are Houston's Fortune 500 companies?

"Downtown maintained its status as the top location for Houston’s Fortune 500 companies, although north Houston just made two big scores with Exxon Mobil and Hewlett Packard Enterprise."

https://www.houstonchronicle.com/business/texas-inc/article/where-are-houston-fortune-500-companies-located-16933965.php

jgBZYdF.jpg

Wow.  Ten downtown.  That is almost certainly second only to NYC.  (FWIW, Dallas has 4 downtown and 2 in Uptown.  Chicago has about 7 downtown.  Atlanta has 2 downtown and 1 in Midtown.)

Edited by Houston19514
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On 2/25/2022 at 1:45 PM, Houston19514 said:

Wow.  Ten downtown.  That is almost certainly second only to NYC.  (FWIW, Dallas has 4 downtown and 2 in Uptown.  Chicago has about 7 downtown.  Atlanta has 2 downtown and 1 in Midtown.)

Dallas almost can't be compared, because a lot of companies are in those suburban places north and west of the city. I would not be surprised if Frisco and Westlake rival Downtown.

And Exxon Mobil should not be on the list till next year. 

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  • The title was changed to New Development Map From Central Houston
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"Houston built 72,000 luxury units in the last decade, according to data from Storage Cafe, in a national market that is largely only building new luxury complexes. That was enough to beat its next closest competitors, New York City (61,000 units) and Austin (59,000 units)."

https://www.bisnow.com/houston/news/multifamily/as-inflation-rises-houston-has-built-the-highest-number-of-luxury-apartments-in-the-country-113902

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Clearly we are moving into a recession next quarter. If anyone wants to disagree you are free to do so, but this will not be my question to you guys. We have been lucky thus far to see a string of project activations when in past cycles even the slightest sniff of a recession brought a wave of cancellations. What are still some projects out there that are close to activation, but need to activate now, or they will be likely canceled in the next 3-6 months? Curious as my focus has been off the Houston market for awhile now.

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@Luminare what I’ve heard from clients is: they’re wanting to get started on projects so that when they are completed we will be emerging/have emerged from recession… seems many are thinking that it won’t be as deep or painful as others.   Only time will tell?

Edited by arche_757
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On 7/30/2022 at 8:48 PM, arche_757 said:

@Luminare what I’ve heard from clients is: they’re wanting to get started on projects so that when they are completed we will be emerging/have emerged from recession… seems many are thinking that it won’t be as deep or painful as others.   Only time will tell?

Seems to make sense. I bet many developers because of covid lockdowns had a bunch of projects in inventory that they need to offload. Even with FED rates rising, real rates are still ridiculously low, so even with lead times through the roof, and material prices through the roof, it still pays to take construction loans. Real estate while starting to drop is still way up as well. I do see this window closing sooner rather than later. I'm just glad projects are still activating. These days, take what you can when you can seems to be the truism.

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Large bump in Houston payrolls logged through September 2022...
Dallas Fed

"...

Payroll jobs have grown 5.8 percent this year through September. At that pace, the metro would add 183,600 jobs by year-end to reach 3.4 million. That would represent a full recovery to the number of jobs Houston would have reached had it stayed on its 2000‒19 pace of growth. Year to date, all industries have grown.

The one-month change in local payrolls accelerated to 6.6 percent, led by the leisure and hospitality sector and professional and business services. However, monthly jobs data are highly volatile at the local-industry level and subject to substantial revision. Of the four industry subsectors that lost jobs in September, only the large trade, transportation and utilities sector declined for two consecutive months.

Houston’s unemployment rate ticked down to 4.4 percent in September amid continued labor force growth. For comparison, the unemployment rate was 4.0 percent in Texas and 3.5 percent nationally..."

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