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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?

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    housing affordability news

    This is how much Houston home prices have fallen since 2024

    Amber Heckler
    Jan 16, 2026 | 4:30 pm
    16403 Sheffield Run Drive, Houston home for sale
    Estately.com/
    This home at 16403 Sheffield Run Dr. in Houston's Berkshire Oaks neighborhood is on the market for $309,900.

    A new real estate analysis has revealed housing prices across the Southern United States have seen a major large-scale decline from 2024-2025, with Houston homebuyers experiencing the 11th-steepest "price correction" in the region.

    Houston-area buyers have a better chance of purchasing an affordable home this year after prices cooled 1.5 percent from 2024-2025, the study found.

    Online real estate marketplace Zoocasa compared year-over-year median price changes for single-family homes across 20 cities in the South based on local real estate data. The study also looked at housing affordability in the American West, Midwest, and Northeast.

    In Zoocasa's ranking of the Southern cities where affordability is improving the most, Houston ranked No. 11.

    In 2024, the median price for a single-family home in Houston was nearly $340,000, which has since dropped to $335,000 in 2025. Local sellers may not be happy about cooling prices, but it does make housing more attainable for first-time homebuyers.

    Better housing prices will surely attract even more new residents to the area, especially since Houston was the second-hottest destination for movers in 2025, and its suburbs are still booming in popularity.

    "Affordability is on the rise across Texas, with major cities seeing significant price corrections," the report said. "Most importantly for buyers, the median home price in each of these cities remains more affordable than the national median."

    The national median price of a home in the third quarter of 2025 was $426,800, according to the latest information from the National Association of Realtors (NAR).

    Housing affordability elsewhere in Texas
    Dallas was the No. 2 Southern city where housing is becoming more affordable. Dallas-Fort Worth's housing prices fell 5.71 percent from 2024-2025. The median price of a single-family home in North Texas fell from $397,700 to $375,000 during the one-year span.

    In Beaumont-Port Arthur (a metro area east of Houston), housing prices have fallen 4.62 percent year-over-year, making it the metro with the No. 5 steepest price correction in the South. Median home prices dropped to $217,000 in 2025, or $10,500 lower than the year before, the report found.

    Austin's housing prices fell 2.04 percent during the same time span, landing the Capital City in the No. 9 spot. The median price of a single-family home in Austin fell from $437,925 in 2024 to $429,000 last year.

    Surprisingly, San Antonio ranked near the bottom of the list with housing prices increasing by five percent year-over-year. Single-family homes in the Alamo City had a median price just under $300,000 in 2024, which spiked to $315,000 in 2025.

    Housing market predictions in 2026
    Zoocasa predicts the 2026 U.S. housing market is "poised for a steady revival" since mortgage rates have dipped nearly a full percentage point since this time last year. Current interest rates for a a 30-year mortgage are sitting at 6.16 percent, the study said.

    The NAR report additionally found that pending home sales have grown by 2.6 percent year-over-year from 2024.

    "Homebuyer momentum is building," said NAR Chief Economist Lawrence Yun. "The data shows the strongest performance of the year after accounting for seasonal factors, and the best performance in nearly three years, dating back to February 2023."

    The top 10 Southern cities where housing affordability is improving the most in 2026 are:

    • No. 1 – Naples-Immokalee-Marco Island, Florida
    • No. 2 – Dallas, Texas
    • No. 3 – Durham, North Carolina
    • No. 4 – Ocala, Florida
    • No. 5 – Beaumont-Port Arthur, Texas
    • No. 6 – Cape Coral-Fort Myers, Florida
    • No. 7 – Jacksonville, Florida
    • No. 8 – Atlanta, Georgia
    • No. 9 – Austin, Texas
    • No. 10 – Raleigh, North Carolina
    real estatehousing affordabilityreal estate reporthousing prices
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