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March 29, 2022

Buffalo Bayou-Area Developers Bump Into Challenges Building On Houston's Oldest Land

NewQuest, Brookfield, Morgan Group & Lovett Industrial Talk All Things CRE In Houston May 5

Hanover Co. and Lionstone Investments designed the new Autry Park mixed-use with office, multifamily and retail as an "urban village." The 14-acre project along Buffalo Bayou will have restaurants from trendy Houston operators, multiple apartment buildings, a hotel and other office spaces. But that bayou view comes with a cost: It is also next to a busy section of Allen Parkway and Shepherd Drive. Hanover is spending about $30M on infrastructure in part so development partner David Ott no longer has to get off his bike and guide children across the street. 

Buffalo Bayou-Area Developers Bump Into Challenges Building On Houston's Oldest Land

"There's going to finally be pedestrian signalization at [the] Allen, Kirby, Shepherd intersection. If anyone's tried to cross at the ground floor there, it's like a game of Frogger. It's very scary, especially with kids," Ott said.New projects, mixed-use and residential alike, are rapidly scooping…

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Houston Medical Office Construction Is Kicking Vacancy Up

Houston Medical Office Construction Is Kicking Vacancy Up

Houston medical office vacancy is on the rise as the citywide trend gravitates toward medical spaces closer to home.Though absorption is improving across medical offices, so is vacancy as the construction pipeline has expanded, according to March data from NAI Partners. The industry now has 17.4% vacancy, up from 17% this time last year. That…

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'Feels Like The New Retail’: Some Owners Giving Up On Older Offices In High-Cost Cities

After two years of pandemic uncertainty, many questions around the return to office and its impact on commercial real estate have yet to be answered. But as migration patterns from high-cost markets to the Sun Belt have entrenched alongside attitudes around remote work, familiar, ominous music is playing for owners of older office buildings in Chicago and New York City.

In the last two weeks, owners of Class-B office properties in both cities have handed the keys to their buildings over to their lenders, much as owners of Class-B malls have elected to do in recent years.

“Office in what you’ll call the northern, the colder climates, the high-tax [cities] — that feels like the new retail, right?” Origin Investments co-CEO Michael Episcope told Bisnow. "Where retail was 15 years ago and its slow demise."

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Flashy Amenities Or Home Offices? In High-Cost Environment, Apartment Developers Face Tough Choices

The effects of the pandemic have changed how developers are executing their plans for residential buildings: from adding video doorbells and new package systems to building bigger living spaces and home offices.

“It's not just about the architecture anymore. You could design a nice space, the lobby could be fantastic, but what extras does it have?” MG2 Design associate principal Victor Malerba Jr. said at Bisnow’s Tri-State Annual Multifamily Conference last week. “What’s the extra sauce?”

But developers are also aware that new residential demands may shift as the long-term equilibrium of the hybrid work movement settles. With many employers yet to announce their permanent return-to-office policies, making long-term plans for building design has become a gamble for developers bringing their products to the market today.

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How To Reinvent A £25B Real Estate Juggernaut

 

UK fund management giant Aviva Investors is looking to double its real assets business over the next two to three years, which would see its real estate holdings grow from about £25B to £50B — and it is overhauling the way it invests in property to do that. 

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