As part of President Obama’s American Recovery and Reinvestment Act that has recently been blasting its way through the nation, more than $489 million will be pouring into the Houston region for much needed infrastructure improvements and repairs.
Texas has already received $3 billion from federal highway funds, and will receive $2.25 billion more from the stimulus for transportation. The regular federal allotment comes with some restrictions, such as percentages of funding reserved for improving safety, relieving air pollution and repairing bridges, but the stimulus money doesn’t have as many restrictions to follow.
The population of the greater Houston-Baytown-Sugar Land area is growing strongly and steadily due to the metropolitan city’s effective resistance to the late economic downfall. The expected outcome therefore, is a long period of construction and structural improvements, such as in Crosby, whose Main Street will soon be raised over a busy railroad track, more lanes in the suburbs of Fort Bend and fresh curbs throughout Pasadena.
Funds will go towards both construction of new roads as well as maintenance repairs on existing roads. “Widening roads ultimately gives rise to congestion,” said David Crossley, founder of Houston Tomorrow, a nonprofit organization that explores urban growth. “They’re asking for more cars to drive on the roads.”
That’s why the regional Transportation Policy Council will be deciding how to spend most of the stimulus funds in the Houston area. The council represents the eight counties of the Houston metro region and its 24 voting members are drawn from local governments and agencies such as the Texas Department of Transportations and the Metropolitan Transit Authority. Priorities for the distribution of funding will be decided on which roads need the most work, especially in terms of alleviating traffic congestion and creating more efficient roadways.
According to the real estate forecaster Local Market Monitor, the latest Home Price Forecast has officially listed the Houston-Sugar Land-Baytown metropolitan area as expected to hold some of the strongest home prices in the nation over the next 12 months.
“These are markets that did not have a large boost in home prices over the last few years and therefore, even though the economy is doing poorly, no adjustment in prices has been necessary,” said Ingo Winzer, president of Local Market Monitor. “Steady economic growth and price appreciation have helped these markets remain stable.”
Because of Houston’s past stability in this area of the economy, turmoil is expected to be less profound than in other areas across the nation. This will create numerous opportunities for city- and state-wide growth in both the housing and employment sectors.
Not only has Houston been praised, but the Fort Worth-Arlington, McAllen-Edinburg-Mission, Dallas-Plano-Irving and San Antonio metropolitan areas have also been selected for the Top 10 List of featured top performing markets.
According to a new study from the Brookings Institution, out of the 100 largest metropolitan areas of the Unites States, Texas boasts four of the top five cities to have performed the strongest during the recession through the first quarter of 2009.
The Washington D.C.-based think-tank’s MetroMonitor reports that San Antonio has taken the lead in this study, followed closely by Austin, Houston and Dallas. Oklahoma City came in second, the only out of state city to ranked in the top five. Austin was also one of only two cities, along with McAllen, Texas that actually experienced an increase in economic output over the past year.
“The rankings were based on four indicators: Percent employment change from peak quarter to first quarter 2009; percent change in unemployment rate from March 2008 to March 2009; percent gross metropolitan product change from peak quarter to first quarter 2009; and percent change in housing prices from first quarter 2008 to first quarter 2009.”
Indicators that support this ranking were listed as specializations in energy and government, large amounts of federal hurricane recovery funding for the Gulf Coast, and smaller increases in housing prices during the early and mid-2000s. For these reasons, the Southwest, particularly Texas was able to perform better economically that many other metropolitan areas in the U.S.
Not only is a new Chipotle restaurant opening at S.H. 249 and Louetta Road, but the soon-to-be establishment will be hosting a sneak peek of the food as a preview of things to come, and it’s all free!
To promote the new business and introduce it into the community, the management decided to offer a Free Day. “It’s our way of letting everyone in the community come visit our restaurant, try us out and see what we’re all about,” said Iliana Rodriguez, spokes person for the local Houston Chipotle stores. “In this economy, people don’t want to spend $6 on something they aren’t certain they will enjoy,” she continued. “It’s a really fun day for us to introduce people to what we do and show what a value they get when they eat [with us].”
But free food isn’t the only thing that makes this Chipotle remarkable. The new store will be the franchise’s first energy efficient building due to the use of pre-fabricated panels made of processed straw instead of standard fiberglass insulation. The menu as well is environmentally sound, as fresh, organic meals will be served using only humanely raised pork, chicken and beef, free of antibiotics and hormones.
“We are changing the way the world thinks about and eats fast food,” says Chipotle Founder, Chairman and CEO Steve Ells. “For too long, great food has really only been available at the best restaurants and high-end specialty food markets, but we think it’s time to end the notion that great food is only for elite customers. It’s a new perspective on eating in America.”
The Free Day will be held on Wednesday, June 17th from 11am to 7pm at the store location at 10905 Louetta Rd. where Chipotle will provide a free entrée, chips and a drink. The grand opening will be two days later on the 19th, and also boasts free goodies. The first 100 customers to visit by 3pm will receive a free T-shirt and a free burrito on their next visit. For more information, visit www.chipotle.com.
This year National Trail Day was celebrated at the Kickerillo-Mischer Preserve where Precinct 4 Parks Department staff and volunteers helped to clear nature trails of debris. The event was a beautification project that will prepare the Preserve for the infrastructure development that Precinct 4 is currently designing.
The Kickerillo-Mischer Preserve was purchased by V&W Partners, LTD. and is an 81.80-acre park with a 40-acre lake on the outskirts of The Vintage, located at Texas Highway 249 and Louetta Rd. Plans for the Preserve began as a way to protect the floodplain land located along the northeast side of Cypress Creek at 249, but the plans have been extended to include construction of an education center, picnic areas, canoe docks and an extensive system of trails winding through beautiful nature areas, and connecting to the Preserve’s surrounding parks and neighborhoods, like Cypress Creek Ranch.
With so many plans eager to be underway, the cleaning crew had their work cut out for them. Volunteers included students from Hamilton Middle School and Houston Can Academy, community members from REI-Willowbrook and Friends of the Kickerillo-Mischer Preserve, as well as staff form Precinct 4, such as Harris County Commissioner Jerry Eversole. “We are always pleased to work with developers like V&W Partners and community groups who have a vision for creating parkland and whose work ultimately enhances the quality of life in the community,” said Eversole earlier this year.
Hopes for the Preserve are high, not just as a backdrop for The Vintage, but as a community park that everyone can enjoy. “The significance of the Preserve is that it maintains open spaces for the community to fish, hike, bike, birdwatch, canoe and simply enjoy the peacefulness of a natural setting,” said Linn Smith of the Friends of the Kickerillo-Mischer Preserve.
Thanks to the hard work by community volunteers, these hopes and aspirations can start to become a reality in the very near future.
A northwest Harris County hotel goes above and beyond when it comes to being environmentally friendly. That is what makes the Element Houston Vintage Park unlike any other hotel in Texas.
"It is really how a building is measured; its environmental impact, its sustainability," describes Kristen Vasquez.
The luxurious interior of the building hides an incredible green movement. From top to bottom, start to finish, the Starwood property is the only LEED-certified hotel in Texas. That honor by the Leadership in Energy and Environmental Design carries a high standard.
From the caulk that contains no silicone to the materials, such as low VOC paint, to the earth-friendly cleaning products, the Element stands at the top level of green properties.
The 123-room extended stay hotel does not look like a traditional hotel and Vasquez takes that as a compliment.
Everybody knows that times are tough, but thanks to the American Recovery and Reinvestment Act, the times may be looking up.
The Act went into effect in February and is providing over $100 million of stimulus funding for additional unemployment benefits, according to the Texas Workforce Commission. Qualified job seekers began to see these benefits pay-up in March as they received an additional $25 per week to support them on the road to permanent employment.
However, employers are not contributing to the extra benefits since the increase is federally funded. The benefits are only administered “to workers who become unemployed through no fault of their own and are actively seeking work,” as stated by the Houston Business Journal.
TWC Chairman Tom Paulken has confidence that this stimulus funding will not only support job seekers but will also help revitalize the economy.
If you are currently unemployed and wish to partake of this federal benefit, then hurry, because the increase is effective only for initial claims filed through Dec. 26, 2009.
According to the National Association of Realtors, the pending sales for homes have risen 6.7 percent in April, which equals a full 3.2 percent higher than last year. These types of sales are specifically pending sales on existing homes, or mortgage contracts that are signed but not closed.
NAR chief economist Lawrence Yun states that this index can actually be difficult to measure absolutely, as the processing time varies from sale to sale. "The relationship between contracts on pending home sales and closings on existing home sales is taking longer than in the past for several reasons: mortgage processing time has increased, it is taking many months to close on those homes requiring short sales with lender approval, and some sales are falling through at the last moment," he said.
As many experts have gathered, the housing market has reached so low recently that it can only rise back up again now, as seen by the increase in pending homes sales, NAR’s housing affordability index at its second-highest level on record in April, and also the 2.9 percent increase of reported closed home sales.
It can’t be said better than by the Houston Business Journal, stating that “lower prices and attractive mortgage rates are breathing new life into housing.” Hopefully past mistakes have been thoroughly corrected and only positive news awaits the housing market.
The "upscale retail center" of Vintage Park has recently been spotlighted as one of the top exciting ventures in the Northwest area by 101 Houston, a local resource guide for 101 fun things to do in Houston. Vintage Park is "complete and filling up fast with great shops, restaurants, and movie theaters" quotes the article. Follow this link to read the full article, or click here to view a downloadable PDF version. We hope to see you soon at Vintage Park!
A number of positive changes have been sweeping across the greater Houston area. First off, according to new research from Pitney Bowes Business Insight, Houston is one of the top metropolitan areas expected to see quarterly retail sales growth from now and into 2010.
The top contenders are all Texas cities, with the exception of Seattle. Houston ranks fifth on the list for notable scores of strong comparative sales growth, specifically in the drug store and high-end retail. The city was able to earn this rank due to its sales history and ability to remain stable for the past six quarters, despite rough economic conditions elsewhere.
Houston’s strength in the retail sector can be seen to continue as the unemployment rate for the city falls. New figures from the Texas Workforce Commission state that joblessness decreased from 6.6% in March to 6.3% in April, the first major decrease in more than six months. The rate is expected to continue to decline for May, as sales growth comparatively increases. For Texas as a whole, the unemployment rate has held steady at 6.7%, well below the national average of 8.9%.
For the final touch, Houston has recently been ranked within the top 50 of the fittest metropolitan areas. The city’s official ranking is #41 based on strengths that include a lower percentage of people with disability, a lower percentage of people who smoke, a higher percent of city land area as parkland and a higher level of state requirements for physical education classes.
As the fourth largest city in the U.S., Houston may find itself leading the way for a step closer to ideal city living.
