Houston Faces Critical Flooding Challenges, Lionstone’s Tom Bacon Tells CREW
Tom Bacon
HOUSTON – (By Michelle Leigh Smith for Realty News Report) – As Houston prepares to invest billions and make crucial decisions on flood management, the city faces a pivotal moment, says Tom Bacon, co-founding partner of Lionstone Investments in Houston.
“We’re at a decisive juncture,” Bacon said. “We must invest wisely and hold the public sector accountable for those decisions.”
Bacon stressed that Houston’s future will be shaped horizontally rather than vertically. “The focus should be the ground plane and the public realm,” he said.
He presented his view — that Houston has a chance to lead — to an audience at CREW, a network that advances women in commercial real estate, during a Junior League luncheon.
“Cities are becoming less dependent on state and federal government, which means it’s up to us to drive progress. Collaboration is essential,” Bacon said.
“Many cities cope with flooding and learn to live with it. We need to invest roughly $10 billion, and we must be careful how that money is spent. If we repeat past approaches, we’ll be frustrated by 2025.”
“We have better tools now. The Harris County Flood Control District is world-class at what it does; if the name emphasized management rather than control, it might better reflect the work. Flood Management would be a more accurate title,” he added.
“We also need to engage more actively with coastal issues,” Bacon noted.
He began his remarks with a central premise: the city must rethink its approach to take advantage of this transformative moment.
“I’ve been in real estate rooms for 35 years,” said Bacon, who has served on the Kinder Institute for Urban Research’s Advisory Board since 2017. “There still aren’t enough women at the table.” He attributed his own success to three influential women in his life: his mother, who went to law school at age 42; his wife, Laura; and his daughter, Katie. Bacon started his career as a commercial architect with Hines, “back when we drew buildings with a T-square.” He later led domestic development and oversaw development efforts in Latin America.
Bacon voiced strong support for the Bayou Greenways 2020 plan, which envisions a network of walkable villages linked by extensive greenspaces and multi-modal transportation options, creating opportunity woven into the city’s fabric for all residents.
“Building cities is the most complex thing we do,” Bacon said. “These are our anthills. We’re creating a wonderful place for our children to grow up in.”
