FX Excursions

FX Excursions offers the chance for once-in-a-lifetime experiences in destinations around the world.

Houston Booms with Development and Economic Growth

by Ron Bernthal

Sep 1, 2016
Destinations / North America

In 1836, shortly after the Battle of San Jacinto gave birth to the Republic of Texas, two entrepreneurial brothers, Augustus and John Allen, advertised the 8,850 acres they purchased in an alligator- and mosquito-infested prairie swamp not far from the Gulf of Mexico. They claimed the land was well-developed, with steamboats running in Buffalo Bayou and houses on Alpine-like hills. In reality the land had no roads or river boats, no structures and certainly no mountains. They named their city after Sam Houston, the hero of the recent battle who would be elected president of the new republic, and by the end of 1836, Houston — capital of Texas for a few years — became the major cotton-trading center for the area’s slave plantations.

In 1901 the Spindletop oil well erupted, and the busy railroad and shipping town of 44,000 residents became the energy capital of the world, bringing wealth, unbridled expansion and a can-do attitude. Today Houston is the country’s fourth-most populated city (2.2 million residents) and fifth-biggest metro area (6.4 million), encompassing 655 square miles.

Large-scale development — including massive suburbs with their own downtowns — continues in the Houston-Woodlands-Sugarland metro area despite the oil and gas slowdown. Average house sale prices increase in the neighborhoods of Montrose, River Oaks, Memorial Villages and Rice/Museum District even as bankruptcies and layoffs occur among the 500 energy-related companies in the area.

“This is the best downturn Houston has experienced in my lifetime,” Ted Jones, chief economist, Stewart Information Services Corp., told the Houston Business Journal. Jones feels because Houston’s real estate prices are lower than most other major U.S. cities, it is fast becoming a global gateway for foreign investment. “A sixth of all commercial property sales went to foreign buyers last year,” he said. “The biggest issue today is that everyone thinks Houston is down because of low oil prices. Their perception is that we’re hurting, but we’re not.”

Although Houston’s lack of zoning led to a mish-mash of architectural styles and streetscapes that drive urban planners crazy, it enables commercial development to move faster and be more affordable, contributing to the diversity of businesses and services. Houston remains the top U.S. city for retail construction, according to Marcus & Millichap, with Houston builders completing nearly 3.3 million square feet of retail additions this year. City parkland increased at the same time, as Houston embarks upon the $220 million Bayou Greenways 2020, a 150-mile network of hiking and biking trails and green space.

The city attracts professional millennials, helping make Houston the second fastest-growing big city in the nation and one of the youngest. Residents (average age 32) use the expanding METRORail system and make sure the city becomes greener and more culturally vibrant. The book The Smartest Places on Earth lists Houston as one of several university-centered “brain hubs” where local corporations, universities and medical institutions collaborate to develop new technologies, with bioscience and energy the focus in Houston.

“Many of our city’s young residents want to live where they work, and the METRORail expansion, new office and residential towers, and the vibrant downtown theater and restaurant scene have really revitalized Houston’s core,” said Robert Eury, executive director, Houston Downtown Management District. With 26 Fortune 500 headquarters, Houston is a major energy center and a top city for medical services, technology firms and hospitality-related businesses, with 7,000 hotel rooms in the pipeline.

The $450 million Museum of Fine Arts, Houston expansion adds three new structures, including a 164,000-square-foot building for modern and contemporary art and an 80,000-square-foot new home for the Glassell School of Art, both designed by Steven Holl Architects. Expect completion in 2019.

The $58 million public/private Buffalo Bayou Park renovation, completed this year, transformed a 160-acre, 2.3-mile stretch of the bayou into a natural, self-sustaining landscape with new trees and native grasses, expanded walking and biking trails, kayak launches and pedestrian bridges.

A $175 million project is renovating the area around the George R. Brown Convention Center, including its façade. The entire city anticipates the opening of the 1,000-room Marriott Marquis Hotel in October adjacent to the convention center and featuring a Texas-shaped lazy river; a rooftop infinity pool; and 104,000 square feet of meeting space, including Houston’s largest ballroom and a two-story sports bar. Five sky bridges link the new Marriott, the present Hilton Americas-Houston and downtown office buildings to the convention center.

The first vertical, mixed-use project in Houston, The Post Oak, opens in 2017 next to Landry’s corporate headquarters, about seven miles from downtown. The project will include an ultra-deluxe, 250-room hotel; office, residential and retail space; and restaurants in a 680,000-square-foot, 36-story tower. Other features include a two-story spa and salon and a two-story Bentley and Rolls-Royce showroom. Billionaire entrepreneur Tilman J. Fertitta, CEO, Landry’s, is developing the 10-acre project designed by Gensler’s Houston office.

Look for the 225-room, Gensler-designed Hotel Alessandra, a 20-story luxury tower rising in the GreenStreet development project. The ultra-modern hotel includes 10,000 square feet of ballroom and meeting space, an indoor/outdoor event deck, restaurant and bar.

SCENIC DRIVES

Start a half-day excursion at East 11th Street in The Heights, one of Houston’s prettiest and most historic neighborhoods, with breakfast at A 2nd Cup or lunch at Andy’s Home Café. After exploring the nearby shops, drive west to Yale Street for a look at Eight Row Flint, a cool-looking bar and restaurant converted from a gas station. Head north on Yale to 20th Street, turn right to drive slowly south along tree-lined Heights Boulevard; the 60-foot-wide boulevard esplanade boasts lovely Victorian homes and ever-changing public art. Continue south to Memorial Drive, which parallels the newly renovated Buffalo Bayou Park and ends in the Theater District. In nearby Sam Houston Park, visit the Heritage Society Historic Museum and tour historic houses permanently relocated to the park for restoration.

For a full-day excursion (60–70 miles one way), take Highway 290 West to the Blue Bell Creamery in Brenham. Open Monday through Friday, the creamery no longer offers tours, but you can browse artifacts in the Tour Center, pick up gifts in the Country Store and sample the wares in the Parlor. Along the way, view country homes and ranches, with wildflowers and bluebonnets blooming every spring.

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