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    Houston First's Move

    It's full speed ahead for new convention center hotel and it's going to be Texasbig

    Ralph Bivins
    Mar 8, 2012 | 3:03 pm
    • George R. Brown Convention Center
    • Hilton Americas-Houston

    Plans to build a second convention hotel in downtown Houston are moving ahead as organizers have begun an official search to locate a hotel developer.

    The hotel, to be built just north of Discovery Green park near the George R. Brown Convention Center, is expected to have 1,000 rooms, making it one of the largest hotels in Texas.

    The new hotel would join the Hilton Americas-Houston as an important part of the city's convention package. Officials say Houston has an inadequate number of downtown hotel rooms, so it is eliminated from consideration on the shopping list of the nation’s largest meetings and conventions.

     

      The organization’s long term plan, stretching out to 2025, calls for four new hotels to be built around the George R. Brown. 

     Houston First Corporation, which is representing the consolidation of the City of Houston Convention & Entertainment Facilities Department and the Houston Convention Center Hotel Corp., has designated 6.7 acres of land between the convention center and Minute Maid Park for the proposed hotel.

    The hotel project could also be accompanied by residential and retail development if the private developer chooses to add those elements to the project, Houston First said in a “request for qualifications” document. Houston First — called a “local-government corporation” created by government officials — would not own the project, but might participate by assisting with tax rebates or other assistance.

    Houston First is led by board chair Ric Campo, head of Camden Property Trust, one of the largest apartment companies in the nation. As a community service, Campo has been appointed by the city to oversee a number of major public sector developments. Houston First developed and owns the 1,200-room Hilton Americas, the largest hotel in Houston.

    Houston First is seeking experienced real estate developers with pristine track records to tackle the second convention hotel.

    The organization’s long term plan, stretching out to 2025, calls for four new hotels to be built around the George R. Brown.

    "This year marks the 25th anniversary of the George R. Brown, and we’re committed to making our Convention District everything it can be in the years ahead," says Dawn Ullrich, president and CEO of Houston First.

    unspecified
    news/real-estate

    Slight decline in Houston home prices could benefit buyers, report says

    Holly Beretto
    Jul 18, 2025 | 2:32 pm
    311 Brown Saddle St. exterior
    Photo by TK Images for Martha Turner Sotheby's International Realty
    311 Brown Saddle St is on the market for $6.75 million.

    A brand new report from Homes.com, which tracks hundreds of thousands of transactions to identify real-time housing trends, might mean great news for Houston home buyers.

    Houston home prices posted their third consecutive monthly year-over-year decline in June. The median home price in the Houston metropolitan area fell from $349,000 in June 2024 to $347,970 in June 2025, a 0.3 percent decline. The numbers represent sales of single-family homes, townhomes, and condominiums throughout the metro area.

    Looking a bit deeper, the report indicates that condos and townhomes are seeing prices fall the fastest. In June, the median detached-family home sold for $278,204, and the median condo sold for $160,000. That’s a 3.9 percent dip for both from a year ago. Meanwhile detached single-family home prices saw the smallest price decline, selling at $350,000, which is 0.8 percent less than a year ago.

    The website Homes.com quotes local realtors noting that this is likely due to oversupply as well as rising HOA fees in these segments.

    But all of it taken together means the scene could be shifting to a buyers’ market.

    “Active listings are above pre-pandemic levels,” according to Itziar Aguirre, senior director of market analytics for CoStar and Homes.com. “Houses are staying on the market longer, and price cuts are becoming more common so that sellers can remain competitive, which is a good thing for potential homebuyers. With slightly lower prices and more houses to choose from, it is starting to feel like a buyer’s market.”

    The report goes on to explain that housing construction in Houston surged coming out of the pandemic due to strong demand and population growth in the region. Developers may have overbuilt, particularly in the condo market and townhomes. Now, prices are falling the fastest in those two segments.

    Also, there is likely a bit of a market correction going on since Houston saw a significant price appreciation from 2020-2022.

    Condos and townhomes are often entry-level options for first-time buyers and high mortgage rates have impacted these buyers’ purchasing power. HOA fees have also increased, as have insurance premiums in the last few years, due to increased risk of flooding and hurricanes in Houston as well as higher repair costs due to inflation.

    reportshousing
    news/real-estate
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