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    Building Value

    Green real estate: Follow T-Bone and forget cost per square foot

    Joey Romano
    Apr 28, 2010 | 9:38 am
    Mirabeau B at Hyde Park is a ground-breaking sustainable condo project.

    As April rolls to an end, I find myself in awe, wonder, and confusion over the growing debates, product expos, and presentations that seek to define green living in the 21st century. While PowerPoints and “isms” flood our collective consciousness, there is a need for a simpler, practical exploration of the big picture.

    By coincidence, April has brought about the groundbreaking of the Mirabeau B at Hyde Park, a sustainable condominium project that I have been developing over the past two years at the corner of Waugh Drive and Hyde Park Blvd. in Montrose. While the initial goals for the project remain, the process and time have helped me to synthesize a perspective of what sustainability is really about: Building value — value as it relates to community, design, beauty, materials, methods, and quality of life.

    Unfortunately, we live in an age that measures in units of cost rather than value — a place where the low-cost provider is usually king. From the kinds of food we eat to the way we power our homes, we are faced with cost-to-value decisions every day, each one of us with our own distinct process and set of questions.

    In real estate, the question has always been, “What’s the cost per square foot?”

    The bigger a project’s scale and the cheaper the materials, the better the cost per square foot looks to developers, builders, and buyers alike. But there are other considerations.The resulting project might interfere with a community, be in need of constant repair, and ultimately have a short lifespan. Until we are ready to make a philosophical shift in how we evaluate our choices, we will continue to see short-sided development.

    Considering the upfront and lifecycle costs, the question should become, “What’s the value per square foot?”

    At the Mirabeau B, our team has tried to make decisions based on long-term value. While the project will carry a LEED certification and incorporate solar-powered common areas, a planted green roof, and a rainwater retention system, the emphasis on sustainability has always had more to do with community, design, and quality. These are factors that have a positive effect on the project’s value but often carry an increased per unit cost due to the building’s intimate scale, choice of materials, and high quality of work.

    It is our mission to create a project that adds value to the neighborhood and is worth maintaining and preserving — something the community embraces rather than fights.

    The rebels will lead us

    Up until the second half of the 20th century, this sense of sustainability had a lot to do with practicality and necessity. People produced and used goods within their own community and tended to operate within a small geographic radius. As the country shifted towards greater centralization, decisions became less personal and more cost driven. As a result, our society by and large chooses to outsource rather than locally produce.

    While we may see short-term savings in buying cheap imported goods, we do so at the risk of harming our long-term sustainability. To reverse this thinking, we must take pride in what we do and invest in our quality of life.

    Although I approach this from the realm of sustainable real estate development, the dilemma is universal. Some time ago, I watched music producer T-Bone Burnett talk on the Charlie Rose Show about his motivation to make music that is as good as it can be — music with longevity. In another industry that tends to reward short-term financial successes, it’s refreshing to see someone make a meaningful career out of fostering artful albums that stand the test of time.

    In my mind, this is an attitude that demonstrates a commitment to sustainability on a very micro level. For T-Bone, it’s building value in the music he produces, which in turn provides value for the musicians on hand and later the audience that follows. The same can be said for cooking a meal, teaching a class, or developing a building.

    While the green debates and discussions will undoubtedly continue over Aprils to come, my advice is to focus on the big picture. We all share the desire to improve our standard of living. It is the way in which we choose to do so and the value we build into the process that defines our sense of sustainability.

    Joey Romano is director of development at Harvest Moon Development Company.

    Value in real estate is like value in food. Sure, you could go for the super low-cost choice, but will you feel good in the morning?

    unspecified
    news/real-estate

    guess who

    This affluent Houston enclave is the richest small town in Texas

    Amber Heckler
    Dec 5, 2025 | 9:14 am
    Bellaire, Texas
    Facebook / City of Bellaire, Texas
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    Affluent Houston neighbor Bellaire is cashing in as the richest small town in Texas for 2025, according to new study from GoBankingRates.

    The report, "The Richest Small Town in Every State," used data from the U.S. Census Bureau's American Community Survey to determine the 50 richest small towns in America based on their median household income.

    Of course, Houstonians realize that describing Bellaire as a "small town" is a bit of misnomer. Located less than 10 miles from downtown and fully surrounded by the City of Houston, Bellaire is a wealthy enclave that boasts a population of just over 17,000 residents. These affluent citizens earn a median $236,311 in income every year, which GoBankingRates says is the 11th highest household median income out of all 50 cities included in the report.

    The average home in this city is worth over $1.12 million, but Bellaire's lavish residential reputation often attracts properties with multi-million-dollar price tags.

    Bellaire also earned a shining 81 livability score for its top quality schools, health and safety, commute times, and more. The livability index, provided by Toronto, Canada-based data analytics and real estate platform AreaVibes, said Bellaire has "an abundance of exceptional local amenities."

    "Among these are conveniently located grocery stores, charming coffee shops, diverse dining options and plenty of spacious parks," AreaVibes said. "These local amenities contribute significantly to its overall appeal, ensuring that [residents'] daily needs are met and offering ample opportunities for leisure and recreation."

    Many popular Houston restaurants are setting their sights on this wealthy enclave. Detroit-style pizzamakers Gold Tooth Tony’s opened its second pizza joint in Bellaire in 2024. And most recently, Michelin-recognized Tex-Mex restaurant Candente announced it would open a second location just down the street from Gold Tooth Tony's at 5101 Bellaire Blvd.

    Earlier in 2025, GoBankingRates ranked Bellaire as the No. 23 wealthiest suburb in America, and it's no stranger to being named on similar lists comparing the richest American cities.

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    news/real-estate
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