STANDING APART

Houston booms with new apartment construction in 2020, report says

Houston comes in at No. 7 on a new list of most apartments completed during the first six months of 2020. Photo courtesy of Caydon

The coronavirus pandemic has brought many activities to a unsettling halt. But it has failed to blunt Houston's apartment construction boom.

New data from Yardi Matrix, a supplier of commercial real estate data and research, shows that Houston comes in at No. 7 for most apartments completed during the first six months of 2020, with 2,085 apartments built.

Houston also comes in third place for projected apartment completions in 2020 is the Houston metro area. Yardi Matrix foresees the Bayou City region welcoming 10,404 new apartments this year, up 2 percent from 2019.

Little surprise to those paying attention to Texas real estate: More apartments were completed in Austin during the first six months of 2020 than in any other U.S. city. In the first half of the year, construction of 3,827 apartments was finished within the city of Austin, according to Yardi Matrix.

Right behind Austin on that list is San Antonio, where 2,871 new apartments hit the market in the first half of this year. Dallas follows Houston at No. 8 with 1,869 units; behind Big D is Farmers Branch, No. 18 with 1,161 units.

"Around the U.S., we have seen a variety of states, counties, and cities choose to close nonessential businesses for 'stay at home' or 'shelter in place' orders. For the most part, construction activity has been included as an essential activity that can continue with business as usual during these orders," Doug Ressler, manager of business intelligence at Yardi Matrix, says in a release.

"The popular Texas metropolitan area saw an increase of 62,000 residents from 2018 to 2019," Yardi Matrix says. "In response to the high demand, Austin metro has been an active scene for new construction in the past five years, having completed over 50,000 new apartments since 2016."

In the Yardi Matrix forecast, Dallas-Fort Worth eclipses all other U.S. metro areas for the number of new apartments predicted to be finished this year — 19,318. This would be DFW's third year in a row to lead all metro areas for annual apartment construction, with New York City claiming second place.

While that's an impressive amount of apartments, this year's anticipated final total for DFW would be down 29 percent versus last year, Yardi Matrix says.

Coming in at No. 19 for predicted apartment completions this year is the San Antonio area, with 4,595 new units on taps. However, that total would represent a 20 percent jump over last year, putting San Antonio in fourth place for the percentage increase from 2019 to 2020.

------

This article originally ran on CultureMap.

Trending News

Building Houston

 
 

5G could be taking over Texas — and Houston is leading the way. Photo via Getty Images

Based on one key measure, Houston sits at the forefront of a telecom revolution that could spark a regional economic impact of more than $30 billion.

Data published recently by the Texas Comptroller's Office points out that as of last November and December, Houston led all cities in Texas for the number of so-called "small cells." Small cells are a key component in the rollout of ultra-high-speed 5G wireless communication throughout the Houston area and the country.

As the Texas Comptroller's Office explains, small cells are low-powered antennas that communicate wirelessly via radio waves. They're usually installed on existing public infrastructure like street signs or utility poles, instead of the big communication towers that transmit 4G signals.

The comptroller's tally shows Houston had approved 5,455 small-cell sites as of the November-December timeframe. That dwarfs the total number of sites (1,948) for the state's second-ranked city, Dallas.

"Houston is in the vanguard of small cell permitting in Texas, and not just because it's the state's largest city; advocates have lauded its proactive approach to 5G. Other cities, particularly smaller ones, are lagging well behind," the Comptroller's Office notes.

According to CTIA, a trade group for the wireless communications industry, 5G holds the promise to deliver an economic impact of $30.3 billion in the Houston area and create 93,700 jobs. The group says industries such as health care, energy, transportation, e-commerce, and logistics stand to benefit from the emergence of 5G.

"Maintaining world-class communications infrastructure is a requirement for success in a rapidly changing global economy. Small cells and fiber technology are the key foundational components for network densification and robust 5G. Cities like Houston that have embraced the need for this infrastructure will see the benefits of 5G faster than others," Mandy Derr, government affairs director at Houston-based communications infrastructure REIT Crown Castle International Corp. and a member of the Texas 5G Alliance, tells InnovationMap.

Derr says leaders in Houston have embraced the importance of small-cell technology through "reasonable and effective" regulations and processes aimed at boosting 5G capabilities. Three major providers of wireless service — AT&T, T-Mobile, and Verizon — offer 5G to customers in the Houston area.

"More small cells and fiber provide greater and faster access for the masses, enabling the connectivity that is essential to our businesses today — whether it's accepting payments on a mobile card reader, completing a sale on the go, or reliably reaching consumers where they are," Derr says.

In a blog post, Netrality Data Centers, which operates a data center in Houston, proclaims that Houston is shaping up to be a hub of 5G innovation.

"Houston has always been on the frontline," Mayor Sylvester Turner said during a 5G roundtable discussion in 2019. "It is who we are. It is in our DNA. We are a leading city. We didn't wait for somebody else to go to the moon. Or to be the energy capital of the world. Or the largest medical center in the world. But you don't stay at the front if you don't continue to lead."

Trending News