The Texas Stories You’ll Be Talking About This Week
In the latest real estate developments across Texas, there's a surge in demand for life sciences lab space, potentially ushering in a new era for the state. In Dallas-Fort Worth, the retail landscape continues to evolve, defying post-pandemic odds, and a multifamily legend died in Houston. Here is Bisnow’s Texas week in review.
EDITOR’S NOTE: Parts of this story were generated by AI and have been reviewed by our editorial team for accuracy.
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Can Lab Development Experience Its Own Texas Miracle?
Texas is witnessing a surge in life sciences lab space demand, particularly from companies relocating from California, and developers are racing to meet the needs. However, the state lags in life sciences venture capital, potentially slowing growth. Read more
Morgan Group Founder, Holocaust Survivor Bill Morgan Dies At 98
Bill Morgan died last week at 98. He established the Houston-based Morgan Group with his sons in 1987 and built it into a significant multifamily developer that owned or managed more than 17,000 units across nine states. Morgan, a Holocaust survivor in Poland, also helped found and construct the Holocaust Museum Houston. Read more
Experiential Retail Remains In High Demand Three Years After Onset Of Pandemic
Despite the pandemic's impact, experiential retail remains in demand in Dallas-Fort Worth. Retailers are adapting to changing consumer preferences, ensuring in-person shopping remains attractive. Read more
Lender Foreclosing On Hotels In Houston, Dallas After $56M Loan Default
Access Point Financial is foreclosing on a former Crowne Plaza Suites in Houston linked to a $56M loan default. The property's value has significantly decreased in recent years. The loan, issued in 2021, also covered properties in Austin and Addison. Read more
‘Fighting For Survival’: Houston Multifamily Market Expects More Pain Before It Gets Better
Houston's multifamily market is seeing decreased deal volume. Experts at the Houston Bisnow Multifamily Annual Conference discussed the need for creative financing and diversification. Read more
Plano To Become Home To Texas’ Largest Indoor Pickleball Facility
A former grocery store in Plano is transforming into Texas' largest indoor pickleball facility. Set to open in January, Pickleball Kingdom will feature 15 indoor courts, a café and more. Read more
Lenders Move To Foreclose On Uptown Dallas Office Tower
Houston-based Pillarstone Capital REIT faces foreclosure on its Uptown Tower at 4144 North Central Expressway after defaulting on a $16.5M loan. Read more
