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Light Rail Will Spur Commercial Real Estate Development Says Bidder

HOUSTON-Light rail's a sure bet when it comes to sparking commercial real estate development, specifically around the portals. Those involved with the project point to other cities as proof that rental rates may rise, but so will the economy.

By Jack Burney | Updated on December 05, 2000

HOUSTON-Light rail is coming to Houston and it will bring with it a boom in commercial development along its route, predict officials of Seimens Transportation Systems.

Yesterday afternoon, Seimens hosted a catered get-together for potential subcontractors in the spiffy Crystal Room of the Rice Hotel. Seimens is one of the two contestants left in the bidding on the “starter rail system.” The other is the Japanese firm that had been involved in Dallas’ rail system. The Metro Authority will close bidding on the project and award an estimated $100-million contract for the vehicles, rails and infrastructure in January.

“I lived in Houston for three years,” says Keith Stentiford, vice president of Seimens Transportation Systems, now based in Sacramento. “It was always a problem to get into Downtown. Light rail will solve that problem.

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