Dallas firm opens massive new data center in Energy Corridor

Dallas-based CyrusOne Inc. (NYSE: CONE) has opened the first phase of its Houston West III data center at its massive campus in the energy corridor.

Once completed, Houston West III will be 640,000 square feet. Combined with the other two data centers on the campus, and it will bring CyrusOne’s Houston campus to 1 million square feet of data center space, making it one of the largest in the state, CEO Gary Wojtaszek said.

The campus, located at 5150 Westway Park Blvd., is 45 acres in total. CyrusOne has been steadily growing the campus for some time, buying land in the area, as well as building up the Class A office space on the campus.

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Long-delayed mixed-use project inside the Loop may restart soon

The second phase of a mixed-use project just south of Allen Parkway has been on hold for years, but it may soon get underway.

Plans for the next phase of Regent Square were presented last week at a meeting of the North Montrose Civic Association, the Houston Chronicle reports. The association’s treasurer and the city of Houston’s chief development officer both told the Chronicle that the developer is preparing for the next phase of the project. The developer, Boston-based General Investment & Development Cos., declined to comment to the Chronicle.

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UT’s massive plan for Houston; biggest thing in the area since Astroworld

The University of Texas System announced Nov. 5 that its board of regents approved the purchase of more than 300 acres in Southwest Houston. That land could be the catalyst for future development in the region, experts said.

The land itself is close to other major organizations and facilities, such as the Texas Medical Center and NRG Park. Almost more important, though, are plans for a light-rail line that will extend to the campus, said Tom Dosch, executive managing director for ARA Newmark.

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Tax breaks for multifamily develoopment could reinvigorate East End

An Urban Land Institute panel of experts weighed in on initiatives that would spur more development to Houston’s East End.

The panel said that increasing residential density, particularly along the light rail, is the first step toward bringing needed amenities, like a supermarket, to the neighborhood. More multifamily development will bring more retail to the area, the panelists said, which will in turn increase the tax increment reinvestment zone (TIRZ) funds that can go to infrastructure improvements to the streets and parks of East End.

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Luxury condominium units selling fast in the Galleria area

Two luxury condominium towers in the Galleria area have sold nearly half of their units despite being months away from completion.

Pelican Builders Inc. recently announced it has sold more than 40 percent of The Wilshire at River Oaks, a 17-story, 96-unit condo tower at 2049 Westcreek Ln. The Wilshire broke ground Aug. 4. An on-site sales center opened in late April.

More details revealed for historic renovation project in downtown Houston

A Dallas-based developer is poised to transform an iconic office building in downtown Houston into a luxury apartment tower that blends historical architectural elements with modern amenities.

Todd Interests is under contract to purchase and redevelop the Great Southwest Building, formerly known as the Petroleum Building. The 21-story office tower, built in 1927, is located on Texas Avenue, between Austin and Capitol streets, along the eastern half of city Block 72 near Minute Maid Park.

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Houston leads nation in apartment growth

Multifamily permitting activity continues to grow in Houston despite an apparent slowdown in the market, according to a new national report.

The Houston metropolitan area ranked No. 2 nationally for the number of apartment permits issued over the past 12 months trailing May, according to Axiometrics Inc., a Dallas-based multifamily research company. Axiometrics used U.S. Census Bureau data on residential permit activity to compile its monthly report

Houston-area developers received permits for 23,340 multifamily units in the 12 months trailing May, a 21 percent increase from the previous year

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Mixed-use development to break ground in Imperial Sugar Land

Plans for a mixed-use development in Imperial Sugar Land are taking off.

The Houston Chronicle reported that the 270,000-square-foot Imperial Market will include a 120-room Aloft Hotel, 86,400 square feet of offices, 275 luxury apartments to be developed by Houston-based Sueba USA Corp., retail space and a fitness center.

Much of the space will be built in redeveloped historic structures, such as Imperial Sugar’s old three-bay warehouse and sugar silos.

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Luxury apartment complex breaks ground near new Exxon Mobil campus

A new luxury apartment project has broken ground in Springwoods Village, a growing master-planned community north of Houston.

Martin Fein Interests Ltd. began construction in June on The Mark at CityPlace Springwoods Village. The six-story, 268-unit apartment project is located on 3.75 acres in a $10 billion mixed-use development called CityPlace, along Springwoods Village Parkway next to Exxon Mobil Corp.’s (NYSE: XOM) new campus.

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New mixed-use development announced for southwest Houston

Houston-based Read King Commercial Real Estate recently unveiled plans for a new 130-acre mixed-use project in Fort Bend County.

Waterview Town Center is proposed for the northwest corner of the Grand Parkway and Grand Mission southwest of Houston. The commercial real estate firm said the project would have restaurants, retail, medical, office space and multifamily developments.

Read More Here on the Houston Business Journal