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    Troubled Landmark Reimagined

    Galveston's version of the Astrodome to get a second life: Hip firm targets abandoned landmark

    Tyler Rudick
    Jul 25, 2013 | 11:46 am

    After decades of neglect, Galveston's historic Falstaff Brewery could be getting another lease on life with some help from a noted North Texas developer with a reputation for both architecturally-savvy new projects and high-profile vintage restorations.

    Located just west of the island's popular Strand district, the hulking 1895 factory has become a troubled landmark of Astrodome proportions, splitting public opinion into factions advocating for its destruction and others championing its cultural significance.

    After a deal to acquire Dallas' iconic mid-century Statler Hotel collapsed in early July, real estate firm Matthews Southwest is turning its attention towards Galveston's abandoned brewery. Company officials are unable to reveal the full details until a purchase is finalized.

    But CultureMap spoke with current project leader Scott Galbraith, whose position as Matthews Southwest's vice president of affordable income development suggests the company's larger plans for the complex. Blocks away, a large mixed-income residential project is underway to help replace nearly 600 public housing units lost in Hurricane Ike.

    "Every building has different nuances to it. There could be a lot of potential here."

    Galbraith is optimistic about the future of the brewery. The building's most recent use has been as the setting for a 2010 horror film about a group of architecture students who get trapped inside an abandoned building during a storm.

    "Every building has different nuances to it," Galbraith says. "Right now we're doing a complete analysis on the site to best understand everything from architecture to environmental issues to land use.

    "There could be a lot of potential here."

    As one of the last remaining industrial buildings in the island's so-called Factory District, the Galveston Historical Foundation placed the brewery on its Heritage at Risk List, suggesting that the reinforced concrete structure could be rehabilitated to serve a number of needed neighborhood uses.

    In recent years, this type of responsible architectural consideration has been the key to Matthews Southwest's public acclaim as it continues to help reinvigorate downtown Dallas with projects like the new LEED-certified Omni Hotel and an overhaul of a 1910 Sears, Roebuck warehouse.

    The company also has made a splash in Calgary with The Bow — a Norman Foster-designed skyscraper aimed at redeveloping the city's long-underserved Downtown East Village neighborhood.

    The Bow skyscraper is serving as a springboard for redevelopment in downtown Calgary.

    The Bow project Matthews Southwest Calgary
    Fosters + Partners
    The Bow skyscraper is serving as a springboard for redevelopment in downtown Calgary.
    unspecified
    news/real-estate

    luxury real estate news

    $1M buys a bigger home in Houston than nearly any other American city

    Amber Heckler
    Oct 30, 2025 | 9:30 am
    15628 Latson Street, Houston mansion for sale
    Photo courtesy of Realtor.com
    This luxurious home in Houston is on the market for $1,095,000.

    Affluent homebuyers looking for a spacious home on a $1 million budget will find the most space for the price in the Houston metro area, according to a new housing study.

    Houston-Pasadena-The Woodlands ranked No. 4 in Realtor.com's analysis of cities that offer the most square feet for a $1 million price tag for 2025.

    The report examined September 2025 real estate listing trends to determine the top five metros where a $1-$2 million budget goes the furthest and the top five where it goes the shortest.

    The No. 1 U.S. metro where $1 million goes the furthest is Atlanta-Sandy Springs-Roswell, Georgia. Six-figure earning homebuyers can nab a 4,530-square-foot home in this metro for $1-$2 million.

    In Houston, the same price could net a 4,112-square-foot home, Realtor.com's data revealed. That's about 50 percent more than the national average (2,994 square feet) for the same price.

    For reference, the median list price of a Houston home in September came out to $314,668, according to Zillow.

    There were fewer than 1,600 million-dollar listings on the market in the greater Houston area in September, and 10 percent of the most expensive listings in the metro started at nearly $800,000.

    Realtor.com senior economist Anthony Smith said affluent homebuyers get more value for their money by purchasing homes in Southern cities like Houston than they can get in other regions of America.

    "Luxury buyers are increasingly seeking value — and that doesn't always mean a lower price tag, but rather more home for the money," Smith said. "In markets like Honolulu or the Bay Area, buyers are paying for proximity, views, and prestige — not square footage. By contrast, in inland metros across the South and Midwest, high-end buyers can often find larger, newer homes with land and amenities that would cost two or three times as much in more supply-constrained coastal metros."

    Elsewhere in Texas, Dallas-Fort Worth-Arlington ranked right behind Houston as the No. 5 U.S. metro where $1 million nets the most square footage of a home. North Texas millionaires can buy a 4,072-square-foot home for this six-figure price.

    The top five metros that offer the most square feet for $1 million are:

    • No. 1 – Atlanta-Sandy Springs-Roswell, Georgia
    • No. 2 – Denver-Aurora-Centennial, Colorado
    • No. 3 – Minneapolis-St. Paul-Bloomington, Minnesota-Wisconsin
    • No. 4 – Houston-Pasadena-The Woodlands, Texas
    • No. 5 – Dallas-Fort Worth-Arlington, Texas

    Meanwhile, the five U.S. metros that net the least square footage for $1 million are: Urban Honolulu, Hawaii (No. 1); San Jose-Sunnyvale-Santa Clara, California (No. 2); San Francisco-Oakland-Fremont, California (No. 3); Los Angeles-Long Beach-Anaheim, California (No. 4); and New York-Newark-New Jersey, New York-New Jersey (No. 5).

    houstonreal estatehousing reportluxury housing
    news/real-estate
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