Parc at Midtown

HOUSTON—After several robust years, Houston's abundant activity has slowed. But even with oil prices staying low, encouraging new patterns are emerging offering a promising outlook. A rise in sublease spaces, the redevelopment of outdoor retail, an influx of international investors and a robust health care sector have become significant industry drivers, according to according to RealShare Houston experts. Later this month, RealShare Houston will delve into some of these issues, with expert panelists providing an in-depth look into Houston's CRE trends, the current state of development and forecast of what to expect in and around the Houston area in the coming months.

In preparation for the upcoming RealShare on March 29, Mike Fransen, vice president and managing director at Parkway Properties and panelist on the active areas and sectors to watch panel, tells GlobeSt.com: “People are quick to forget that Houston was last in and first out of the great recession and went on an almost unparalleled three to four-year run, in which groups like Exxon, Shell, NOV, Phillips 66, Conoco and others built or moved into state-of-the-art facilities. The current lull related to low oil prices represents opportunities for a community known for being hardworking and resilient, one of which is an opportunity for Houston to have its own tech run. New technology companies will help to identify a number of solutions related to energy and, out of that, Houston's office market will benefit from the forward-thinking ideas those kinds of groups bring to the commercial real estate community.”

One of those active areas is Midtown, among the oldest areas in Houston. During the last decade, Midtown has become a Houston hotspot. Located between downtown and the medical center, Midtown is one of the most pedestrian-friendly areas in the city. The mixed-use developments make it a convenient area for millennials to live, work and relax. Dining, nightlife, parks and the arts are all in close proximity.

Known for its great brunches and vibrant nightlife, there is a lively social scene happening every weekend. Good food and drink are not all Midtown has to offer. Midtown Park is under construction on a 6-acre tract of land. This urban green space will feature retail and residential properties and a public parking garage. Additionally, the lawn will accommodate up to 3,000 people for special events.

An eclectic group of galleries, theaters and artists' collectives also have found homes in Midtown. The MATCH has a number of performing and visual arts organizations, the Houston Metropolitan Dance Center has performances and offers classes, and the Houston Center for Contemporary Craft has exhibitions.

Aside from all of the activities to do in and around Midtown, its location makes it easy to get anywhere in the city. With easy access to many of Houston's thoroughfares and its close proximity to the METRORail (six blocks away), commuting for work to downtown, the Museum District and the medical center is convenient.

Midtown has seen many new developments during the last 10 to 15 years. Here, apartment complexes, townhomes and single-family homes are found with the median home value coming in at $380,000, based on 2014 MLS sales, and prices have risen since that time. Parc at Midtown, being developed by Surge Homes, is a new community of condominiums, with one-of-a-kind Sky Townhomes. It has broken ground at 2401 Crawford St. and the development is to offer homes priced from the $140,000s to the low $400,000s, which are excellent rates for this prime Inner Loop location.

Also participating in RealShare Houston as a panelist, Vic Clark of HUNT Mortgage Group, agrees, telling GlobeSt.com: “Affordable and green is the new way to solve much bigger issues long term for the housing market and the environment.”

Join the conversation March 29 at RealShare HOUSTON. Click here for more details on Houston CRE's premier information and networking event.

Parc at Midtown

HOUSTON—After several robust years, Houston's abundant activity has slowed. But even with oil prices staying low, encouraging new patterns are emerging offering a promising outlook. A rise in sublease spaces, the redevelopment of outdoor retail, an influx of international investors and a robust health care sector have become significant industry drivers, according to according to RealShare Houston experts. Later this month, RealShare Houston will delve into some of these issues, with expert panelists providing an in-depth look into Houston's CRE trends, the current state of development and forecast of what to expect in and around the Houston area in the coming months.

In preparation for the upcoming RealShare on March 29, Mike Fransen, vice president and managing director at Parkway Properties and panelist on the active areas and sectors to watch panel, tells GlobeSt.com: “People are quick to forget that Houston was last in and first out of the great recession and went on an almost unparalleled three to four-year run, in which groups like Exxon, Shell, NOV, Phillips 66, Conoco and others built or moved into state-of-the-art facilities. The current lull related to low oil prices represents opportunities for a community known for being hardworking and resilient, one of which is an opportunity for Houston to have its own tech run. New technology companies will help to identify a number of solutions related to energy and, out of that, Houston's office market will benefit from the forward-thinking ideas those kinds of groups bring to the commercial real estate community.”

One of those active areas is Midtown, among the oldest areas in Houston. During the last decade, Midtown has become a Houston hotspot. Located between downtown and the medical center, Midtown is one of the most pedestrian-friendly areas in the city. The mixed-use developments make it a convenient area for millennials to live, work and relax. Dining, nightlife, parks and the arts are all in close proximity.

Known for its great brunches and vibrant nightlife, there is a lively social scene happening every weekend. Good food and drink are not all Midtown has to offer. Midtown Park is under construction on a 6-acre tract of land. This urban green space will feature retail and residential properties and a public parking garage. Additionally, the lawn will accommodate up to 3,000 people for special events.

An eclectic group of galleries, theaters and artists' collectives also have found homes in Midtown. The MATCH has a number of performing and visual arts organizations, the Houston Metropolitan Dance Center has performances and offers classes, and the Houston Center for Contemporary Craft has exhibitions.

Aside from all of the activities to do in and around Midtown, its location makes it easy to get anywhere in the city. With easy access to many of Houston's thoroughfares and its close proximity to the METRORail (six blocks away), commuting for work to downtown, the Museum District and the medical center is convenient.

Midtown has seen many new developments during the last 10 to 15 years. Here, apartment complexes, townhomes and single-family homes are found with the median home value coming in at $380,000, based on 2014 MLS sales, and prices have risen since that time. Parc at Midtown, being developed by Surge Homes, is a new community of condominiums, with one-of-a-kind Sky Townhomes. It has broken ground at 2401 Crawford St. and the development is to offer homes priced from the $140,000s to the low $400,000s, which are excellent rates for this prime Inner Loop location.

Also participating in RealShare Houston as a panelist, Vic Clark of HUNT Mortgage Group, agrees, telling GlobeSt.com: “Affordable and green is the new way to solve much bigger issues long term for the housing market and the environment.”

Join the conversation March 29 at RealShare HOUSTON. Click here for more details on Houston CRE's premier information and networking event.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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