Weather, Walkability, & What's Next

Posted by TM5 Properties Agent on Tuesday, May 26th, 2015 at 3:22pm.



When Punxsutawney Phil saw his shadow back in February, most of us rationalized six more weeks of winter as a blessing vs. the impending Texas heat… what we didn’t account for was the additional three months of rain, creating an extremely soggy spring. Although a blessing to lake levels and parched areas across Texas, the rain has created havoc in the real estate/building world, especially here in the Brazos Valley.

This wild weather has delayed developments, commercial projects, and home starts – why, just this past year (Jan-April 2015), the City of Bryan has seen an increase in building permits in Single Family detached homes upwards of 70% and an over 40% increase in Commercial building permits[1], all of which have seen severe delays due to the weather. But in True Aggie spirit… they’ve always had the grit; I’ve seen ‘em lose and I’ve seen ‘em win, But I’ve never seen ‘em quit[2]! The frenzy surrounding the upcoming 2015 Football season, the new stadium (which appears to be on schedule), the record number of businesses opening and/or relocating to the Brazos Valley, and all of the new hip-urban developments is causing quite a stir.

And one of the newest trends in the Brazos Valley is underfoot…. Walkability! According to the National Association of Realtors, walkable urban places are the future of real estate development as walkable areas provide financial benefits not only to the community but also to the individuals living there.[3] With an increasing population and a shortage of land, some developers are realizing the highest and best use for their property (within walking distance to Texas A&M University) is building ‘UP’ vs. out. Take a look at the following that captures a few of the new ‘Urban’ developments:

- Century Square, a $172 million Midway project, developing next to and in collaboration with Texas A&M University, is slated to include 250 apartments, two hotels,  200,000sf of retail space and 100,000sf of office space[4]. The first phase to be complete by summer, 2016. (See above photo for details).

- Chimney Hill, owned by PMRG, a Houston-based developer, will contain 130 multifamily apartments, a 120-room boutique hotel, The Republic and Black Walnut restaurants and retail stores. Completion slated for 2017[5].(See rendering below).

 

But walkability doesn’t just mean ‘walking distance to campus’... In fact, several developers are increasing greenspace and walking trails within their communities to help foster living well. Take a look at the following that captures just a few of the new developments:

- Southern Point Community – a master planned community in South College Station (located at Texas World Speedway site) - designed with almost everything in mind… a total of 550 acres with approximately 1,400 single-family home lots, and 73 acres of beautiful greenspace. The first municipal utility district, or MUD, in College Station, this $55 million development will be constructed in five phases to include 1,400 homes, a commercial development, nature trails and space for a new elementary school[1].

- MatureWell Lifestyle Center – a partnership between St. Joseph Regional Health Center and Texas A&M Health Science Center, located near Traditions. According to Brett Giroir, Texas A&M Health Science Center CEO and Kathy Krusie, St. Joseph Regional Health Center CEO, the center will contain a swimming pool, gym, exercise area, a pharmacy and labs, and will be geared towards those who want to manage their chronic condition like arthritis, stay well and lead active lifestyles.

- The Fun for All Playground at Central Park - Community wide project to provide a playground for all citizens of all abilities to enjoy the outdoors. A joint collaboration between the City of College Station, area Rotary clubs, area Lions Clubs, and Local Kiwanis club.

What’s Next…

Don’t wait upon whether the weather is ideal. Seize the opportunity to turn a rain delay into your 'new home' heyday. If you’ve made a decision to call Bryan/College Station home, June is an excellent month to start your search! Or, if you’ve decided to upgrade from your current home - Don’t delay! For every 1 home that goes on the market, 4 go under contract!!! Whatever your needs may be – Buying, Selling, or even Commercial Real Estate, contact me at Hanna@TM5Properties.com or 512-373-6322, and let me help you.


[1] http://recenter.tamu.edu/newstalk/main.asp?a=6
[2] http://www.aggienetwork.com/muster/song_tlct.aspx
[3] http://www.realtor.org/news-releases/2015/05/walkable-urban-places-are-the-future-of-real-estate-development
[4] http://midwaycompanies.com/projects/detail/century-square
[5] http://www.kbtx.com/home/headlines/College-Station-Completes-Sale-of-Chimney-Hill-281399561.html

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