Houston to Dallas Bullet Train Could Attract More Tenants; Here’s Why
High-speed trains poised to link Dallas-Fort Worth to Houston are coming closer to fruition and 2021 doesn’t seem that far away. The idea of a 90-minute bullet train trip between the metros is appealing to Downtown landlords.
Colvill Office Properties president Chip Colvill tells us the traffic congestion on highways shows a need for a high-speed train. Texas highways are all heavily populated with trucks and passenger vehicles. A mass transit option like the train could cut traffic, reducing air pollution and improving the safety of travel. Although, Chip says, there are many intangibles that must be factored in when looking at the feasibility. But, look at Southwest Airlines; the company has flights between Houston and Dallas every 30 minutes to an hour, every day.
With Houston's port and Dallas' regional airport advantage, this would link the best of the best in our region and make Texas an even greater world destination for business, Chip says. The economies of Houston and Dallas are somewhat different, but complementary, so this would be of business benefit to both Metros. Plus, there are many companies—like Colvill—that do business regularly in both regions. In Houston, Chip says his company has recently taken over the leasing/repositioning of the major US Post Office site adjacent to Downtown. The client, Lovett Commercial, as well as its other downtown landlords, is excited about what high-speed rail could mean for interest in the site from prospective tenants if the Houston railhead is located in Downtown Houston. Overall, locating the Houston railhead near Downtown is the only logical decision with all of the companies there that would likely use the rail system.
Texas Central Partners is the firm working to deliver a new high-speed passenger rail system that will connect Dallas and Houston in less than 90 minutes. The Texas-based private company is backed by private investors, not public funds. Current plans call for trains to run every 30 minutes during peak hours and every hour during off-peak times, with six hours reserved each night for maintenance and inspection of the system. TCP says traffic and population studies show that automobile travel time between Dallas and Houston is expected to increase to more than 6.5 hours in the next 20 years. High-speed rail could provide a faster alternative and help alleviate congestion.
