Looking to Buy a New Home? Houston's Master Planned Developments Top the List

A report from the HBJ (http://houston.bizjournals.com/houston/)

Cinco Ranch was the top-selling master-planned community in the United States last year. And The Woodlands was No. 2. In fact, four Houston area communities ranked in the top 10 on an annual survey by RCLCO, an independent real estate advisory firm. Newland Communities’ Cinco Ranch had net sales of 887 homes during 2009 — a 14 percent increase over the 775 net sales in 2008. The Woodlands Development Co.’s master-planned community had net sales of 633 homes last year. That represented a 16 percent decrease from the 750 sales in 2008.

Newland Communities also grabbed No. 4 on the list with Telfair. The local community had 450 net sales in 2009 —up 9 percent from the 412 net sales in 2008. The Johnson Development Corp.’s Sienna Plantation rounded out the top tier at No. 10. The community sold a net 280 homes last year, down 24 percent from the 369 sales in 2008.

Year-over-year net sales declined for most of the top 20 best-selling communities, reports RCLCO, with volumes declining by 8 percent to as much as 84 percent. Telfair and Cinco Ranch bucked the trend of dropping sales by posting increased sales for the third year in a row. RCLCO, which stands for Robert Charles Lesser & Co., is based in Washington, D.C.. The firm surveys more than 400 master-planned communities each year for its sales survey.

Houston Livestock Show & Rodeo Attendance Numbers Go Through the Roof

Who says the economy is suffering? Houston once again proves that the economy is alive and kicking in the Bayou City!

The Houston Livestock Show and Rodeo, which concluded on March 21, reached the 2 million mark in general attendance for the first time in its history. The final attendance mark of 2.14 million visitors broke the previous general attendance record of 1.89 million in 2009, according to a statement by the organization.

A single-day general attendance record was also set on March 14 — Go Tejano Day — with 141,273 visitors. The previous record was set in 2009 with 135,548 visitors.
Records were also shattered at the Pesado and El Trono De Mexico evening concerts on March 14 at Reliant Stadium when 74,222 people caught the rodeo action and the musical performances. The previous record of 74,147 was set during the 2009 Go Tejano Day concerts with performances by Ramon Ayala and Alacranes Musical.

Houston High on List for Young Workers

Portfolio.com, an online publication owned by American City Business Journals, put out this survey, as reported by the Houston Business Journal:

Opportunities abound for young workers and therefore ranks Houston as one of the top cities in America for that demographic, according to a ranking by Portfolio.com. Houston ranked No. 5 of 67 metropolitan markets in the United States for cities with the best opportunities for people in the 18 to 34 age group. Austin, Texas ranked #1 in the country, followed by Washington, D.C.; Raleigh, N.C.; and Boston.

Portfolio.com (http://www.portfolio.com/)analyzed the 67 U.S. metros with populations above 750,000, searching for qualities that would appeal to workers in their 20s and early 30s. The study’s 10-part formula gave the highest marks to places with strong growth rates, moderate costs of living and substantial pools of young adults who are college-educated and employed.

Houston’s estimated population stood at 5.7 million as of 2008. Of that total, about 24.3 percent of the city’s population was in the 18-to-34 year old demographic. In 2008, the latest year figures were available for the study, the jobless rate for the young working adult was 7.8 percent. However, the Bayou City did not fare well in terms of educational attainment. Only 18.8 percent of young adults in Houston had a bachelor’s degree, compared to Boston, which led the nation at 37.6 percent.

Houston CityCentre Adding Restaurants & Retail

This blurb, via an announcement from the Houston, TX firm Midway Companies, from the Houston Business Journal (http://houston.bizjournals.com/houston/)

CityCentre, a Midway Co. development located at the southeast corner of Interstate 10 and Beltway 8, is adding three new restaurants to its popular collection of eateries and boutiques. Cyclone Anaya’s Mexican Kitchen, Brio Tuscan Grille and Ruggles Green will soon be the newest tenants at the West Houston development. Cyclone Anaya’s is slated to open its fourth location in the area in May, Brio Tuscan Grille is slated to open its second location in the area in April and Ruggles Green is expected to open the doors to its second location the area in June.

CityCentre’s retail roster is also ramping up with LMD Boutique scheduled to open the doors to its fourth area location later this month. Kitchenware retailer Sur La Table and fashion depot Republic of Couture are also scheduled to open later this year.

The 37-acre CityCentre project is a true mixed use development, consisting of office space, retail stores, restaurants, a hotel, townhomes and apartments.

Forbes Reports Houston Coming Out of Recession

Forbes magazine (http://www.forbes.com)Houston is 4th on the list of top US cities where the recession seems to be easing. Houston, along with nine other metropolitan areas, are best surviving the downturn in part because they specialize in industries that are relatively insulated from economic volatility, Forbes said.

If one state is a poster child for economic recovery, said Forbes, it’s Texas, which is home to four of the 10 cities on the list. Houston was tied with Minneapolis for fourth place. Meanwhile, Austin was tied for first place with Washington, D.C. while Dallas came in third and San Antonio ranked No. 7.

“There’s more to why Austin, Dallas, San Antonio and Houston are faring well than just the state’s energy industry. The tech, government and education industries supplement the oil state’s riches,” Forbes said. “As for housing, cities in Texas didn’t see the same run-up in home prices and rampant speculation that led to the spectacular bubble burst elsewhere in the country.”

James P. Gaines, research economist at the Real Estate Center at Texas A&M University, said, “We didn’t have excessive overbuilding, so we don’t have a big overhang of unsold new homes, and because Texas has among most affordable housing in the country, the demand sustained.” Like Austin and Dallas, Houston is expected to experience a three-year, 7.03 percent rise in jobs. But nowhere are jobs projected to grow more than in San Antonio, where four military bases should help drive its expected 8.32 percent increase.

Is Luby's New Venture Going To Challenge Starbucks?

Luby’s Culinary Services, a contract food service division of Houston-based Luby’s (NYSE: LUB), is operating the brand new What's Brewing business in downtown Houston. The first location opened up at 1301 Fannin. What’s Brewing offers Seattle’s Best Coffee products including freshly brewed coffee, lattes, cappuccinos, Tazo tea and blended beverages. In addition to coffee, the coffeehouse serves pastries and desserts baked fresh each morning.

Danica Patrick Lands Houston Sponsorship

NASCAR newcomer Danica Patrick and Academy Sports & Outdoors has reached a sponsorship agreement to for the next two years. Patrick, a member of the JR Motorsports team headed by Dale Earnhart Jr., is in her first year driving in the NASCAR series. As part of the sponsorship agreement, Academy will get billing on Patrick’s racing helmet and placement on her driving suit during the 2010 NASCAR Nationwide Series.

The Houston-based sporting goods retailer will also feature Patrick in an upcoming television ad campaign. She will also be featured in a multi-media campaign that will incorporate the retailer’s Web site, social media networks, Academy stores and customer events. Academy operates 120 stores throughout Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Missouri, Oklahoma, South Carolina, Tennessee and Texas.