Hurricane Harvey Flooding 2017 downtown Houston. Photo: NWS HOUSTON – (By Dale King, Realty News Report) – Hurricane Harvey dumped as much as 50 inches of rain, demonstrating the catastrophic potential of major storms. But speakers at a recent CoreLogic storm surge seminar emphasized that even a Category 1 hurricane can produce devastating storm surge … Read more

SAN ANTONIO – (Realty News Report) – Big V Acquisitions LLC has acquired The Rim, a 1.6 million-square-foot open-air retail center in San Antonio, for $219.7 million. The seller was HGR Liquidating Trust, a fund sponsored by Hines. JLL Capital Markets represented the seller in the transaction. Located near Loop 1604 and Interstate 10, The … Read more

AUSTIN – (Realty News Report) – Arch-Con Corporation, a general contractor, is constructing a 17-story Fairfield Inn & Suites in Austin’s Rainey Street District, just east of downtown. The 152,000-square-foot hotel will rise at 76 East Avenue near Interstate 35 in the lively Rainey Street area, known for its bungalow bars, restaurants and walkable streetscapes. … Read more

AUSTIN – (Realty News Report) – Tesla, led by CEO Elon Musk, announced it is relocating its headquarters from Palo Alto, California, to Austin, Texas. “I’m excited to announce we are moving our headquarters to Austin, Texas,” Musk said at the company’s annual shareholders meeting Thursday. Tesla is building a large electric vehicle manufacturing campus … Read more

SAN DIEGO – (By Ralph Bivins of Realty News Report) – After a dramatic surge that drove home prices up more than 30 percent in some cities in 2021, the nation’s housing market is expected to moderate next year, according to Lawrence Yun, chief economist of the National Association of Realtors. “Next year is going … Read more

HOUSTON – (Realty News Report) – Stream Realty Partners announced that its Houston office has been selected to manage leasing for the historic office building at 405 Main St., commonly known as the Scanlan Building, on behalf of Novel Coworking. Completed in 1909, the 11-story Scanlan Building is listed on the National Register of Historic … Read more

John Goff, left, of Crescent Real Estate, visits with Realty News Report editor Ralph Bivins at the grand opening of the 5 Houston Center building in 2002. THE LEGENDS OF REAL ESTATE AWARDS 2016 – Ralph Bivins, editor of Realty News Report, has identified the most influential people, projects, transactions, and ideas shaping the Houston … Read more

KATY, Texas – Arizona-based MC Companies has acquired two adjacent multifamily properties totaling 648 units in Katy, west of Houston. The purchase was completed through the firm’s Katy 2 Opportunity Fund LP, with equity provided by MC Companies and its investors and acquisition financing arranged by MF1 Capital. The two properties will be combined and … Read more

HOUSTON – (Realty News Report) – The Barvin organization is developing a 281-unit apartment community near the Texas Medical Center and the Astrodome. The construction site is at the northwest corner of Knight Road and El Paseo Street, just south of Old Spanish Trail. The area, north of Loop 610 and west of Highway 288, … Read more

Michael Bloom, manager of the sustainability practice of R.G. Miller Engineers. HOUSTON – (By Michael F. Bloom, P.E.) – In the Houston area, traditional development practices have relied on concrete parking lots, paved streets, and precast concrete storm sewers to move rainwater quickly to end-of-pipe detention basins. These basins collect runoff and release it into … Read more