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July 15, 2021

Office Workers Coming Back To Downtown Houston Boosting Other Sectors

[In-Person] How can you best design and develop for top-tier tenants? Find out July 21

Office workers shunned the city’s tallest towers, conventions were unceremoniously canceled, and large-scale sports and entertainment events evaporated. By almost every measure, Downtown Houston was a virtual ghost town in 2020.

Though those trends persisted into 2021, Texas’ reopening efforts, vaccine availability and pent-up demand have led to a steep increase in the number of people returning to Downtown Houston. Office occupancy is rising, and with it, positive outcomes for other sectors in the submarket, including retail, hospitality and entertainment.

“As we get to the end of the summer and approach Labor Day [and] school starting, we're hearing a lot of folks saying they really would be looking at 100% [office occupancy] at that point,” Houston Downtown Management District Executive Director Bob Eury said.

Office Workers Are Coming Back To Downtown Houston, Boosting Other Sectors

During normal times, Downtown Houston’s gleaming office buildings draw tens of thousands of office workers each day. But as concerns around the coronavirus pandemic began to ramp up in mid-March 2020, visitors began to fall sharply.Downtown Houston had 741,328 office visitors in April 2019, according to monthly foot traffic data…

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Levcor To Redevelop Post Oak Plaza In Uptown Houston

Levcor To Redevelop Post Oak Plaza In Uptown Houston  

Levcor will redevelop Post Oak Plaza, a 137K SF retail center located at the intersection of Post Oak Boulevard and San Felipe Road in Uptown Houston. New tenant construction is already underway, and redevelopment plans…

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The Great Golf Course Contraction Might Be Over

The Great Golf Course Contraction Might Be Over  

The 21st century so far hasn’t been good to the business of developing and running U.S. golf courses. After a boom in the sport in the 1990s, the game has lost some popularity in the past 15 years, taking many golf courses out of circulation, some of which have been fully redeveloped as residential or mixed-use properties.

Yet the game, and the business, might be stabilizing, if not making a comeback. Last year saw more golfers out playing and fewer courses closed. The data isn’t conclusive yet, but as the golfing world turns its eyes to Royal St. George's Golf Club for The Open Championship Thursday, golf’s worst days may be behind it.

Golf in recent decades has been boom-then-bust. Between 1987 and 2020, the number of 18-hole equivalents, or 18-HEQs, that opened totaled 4,567, while the number that closed totaled 1,645, according to the National Golf Foundation. An 18-hole equivalent is a measurement of golf course supply that divides the…

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