Houston remains one of the leading real estate metros in the country, and as the region continues to grow, many asset classes are attractive options for development firms. Developers are looking to capitalize on the hot market, from pursuing ambitious data center projects to new housing options to meet demand from a rising population. Amenity-rich, mixed-use housing continues to be a winner, but these upcoming projects show the city is rich with opportunities.
Here are the exciting development projects to keep an eye on in the Houston area:
Highland Resources Pursues Data Center in Round Rock
Highland Resources Inc., a Houston-based developer, is planning a 57-acre development in Round Rock, Texas, that could include a data center and associated facilities like an electric substation and commercial spaces. The project received initial support from the Round Rock Planning and Zoning Commission and will soon be reviewed by the City Council. Data centers are rapidly expanding in the Austin area due to their tax value, though local concerns remain over resource consumption that could slow development.
Grove Apartments in Humble to Break Ground in April
Real estate firm RK Properties plans to construct Groves Apartments in Humble in April 2024. The $60 million, 388,000-square-foot complex will include 12 three-story buildings with 336 units, plus amenities like detached garages, a clubhouse, and a fitness center. Construction is expected to finish in September, though an official opening date has yet to be announced.
Johnson Development Plans $1B Mixed-Use Hub
Houston’s Johnson Development is transforming the former Halliburton campus in Westchase into Park Eight Place, a $1 billion, 70-acre, mixed-use project featuring retail, offices, parks, and residential units. Site work has begun, with infrastructure construction expected by early 2025. The project aims to offer a walkable, urban-style environment inspired by developments like CityCentre. Johnson Development is pursuing Houston's "Walkable Place" designation for Park Eight Place, which would be the first in the city since the designation's introduction in 2020.
