This Week in Houston Real Estate: Harvey relief approved, a new mortgage company in town and more

by Lauren Clohessy

A new political action committee is coming to the Houston area from agent and Houston Planning Commission member Bill Baldwin. According to the Houston Chronicle, Your Houston will work with local advocacy groups to help improve schools, neighborhoods and local government. “All of these groups are doing great advocacy work, but they don’t have money. They don’t have political power. I’m going to add money and political power to advocacy, and elect amazing officials that think of our city as a 21st century city,” Baldwin said. 

Baldwin is forming a 15-member advisory board full of well-known names  to aid with the PAC and represent every part of the city. The group will begin their advocacy by helping with Harris County’s flood bond measure.

In other Houston real estate news:

  • Swamplot found that Sugar Land has a few chunks of undeveloped land. The website reported that 7 percent of the 32.2 square mile town is undeveloped, according to Sugar Land’s 2018 land use plan. The underdeveloped areas include land west of the Sugar Land Regional Airport, land off Southwest Highway and Highway 90 and a spot along the Brazos River. Swamplot also noted a few vacant spots in the northeast corner of town between industrial buildings.
  • The U.S. Housing and Urban Development approved a plan to help provide relief and recovery to areas affected by Hurricane Harvey. The Texas General Land Office announced the Community Development Block Grant-Disaster Recovery will provide $5.024 billion for areas outside Houston and Harris County. 
  • First Centennial Mortgage opened its first offices in Texas, starting off in Houston, as well as Austin and Bastrop. Darryl Crawford is set to lead the new offices. “The decision to expand into Texas is a logical step in our business growth strategy as the demand for housing has remained strong here,” said President of First Centennial Mortgage Steven McCormick.
  • The Howard Hughes Corporation is adding another building to the Hughes Landing project. The second apartment building will open five years after the first in 2020, according to The Houston Chronicle. The 386-unit building will offer one and two-bedroom options for residents on Hughes Landing Boulevard. “Our design concept takes full advantage of the surroundings with views of the lake, nearby shopping and dining, and outdoor recreation, all within a walkable setting,” said The Howard Hughes Corporation National Multifamily Asset Manager Crystal Bledsoe.
  • The Praedium Group bought the Discovery and Mandolin Apartments, according to Realty News Report. The 260-unit apartment in northwest Houston is near Cypresswood on Highway 249. “The Houston market is experiencing a significant deceleration in multifamily deliveries, and the Cypress/Fairbanks submarket in which Discovery is located has no projects under construction in the near term. As a result, the area is expected to see above national average rental growth over the next five years,” said Peter Calatozzo, managing director of The Praedium Group.

Read More Related to This Post

Join the conversation

Oops! We could not locate your form.