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    remembering gerald d. hines

    Houston commercial real estate legend Gerald D. Hines passes away at 95

    Steven Devadanam
    Aug 24, 2020 | 9:15 am
    Gerald D. Hines Pennzoil Place Houston
    Hines at one of his signature structures, Pennzoil Place.
    Photo by Annie Leibovitz

    A commercial real estate titan who helped shape Houston’s skyline has passed away. Gerald D. Hines, founder and chairman of the globally renowned real estate firm, Hines, passed away peacefully at his home on Sunday, August 23, according to a statement from his son, Jeffrey C. Hines, who has been the firm’s president, and now assumes the role of chairman and CEO of Hines.

    Gerald D. Hines had just celebrated his 95th birthday on August 15.

    Hines is widely regarded and regularly honored as a leading visionary in the commercial real estate industry. He engineered Hines from an entrepreneurial startup in Houston in 1957 into an international powerhouse that has developed, owned, and managed some of the world’s most recognizable architectural landmarks across five continents.

    The company boasts more than 4,800 employees and is active in 225 cities in 25 countries.

    One of his inherent gifts, according to a family statement, was his ability to “enhance urban landscapes and add lasting value to communities through innovative design concepts, intelligent planning, unmatched efficiency, trendsetting features, and the highest possible standard of quality.”

    The developer long held the belief that memorable design by prominent architects could garner commercial success. Thus, the roster of architects Hines worked with over his career around the world is a veritable who’s who. Throughout his career, Hines teamed with such renowned architects as: Lord Norman Foster; Bruce Graham and David M. Childs of SOM; Gyo Obata; Philip Johnson and John Burgee (15 projects total); I.M. Pei and Harry N. Cobb; Cesar Pelli; Kevin Roche; Robert A.M. Stern; A. Eugene Kohn and William E. Pedersen; Charles W. Moore; Frank O. Gehry; Jon Pickard; and Jean Nouvel, among others.

    The Hines firm has developed more than 907 projects around the world, including 100 buildings over 25 stories, and the tallest office towers in Texas, Kentucky, New Jersey, Oklahoma and Italy.

    A passionate fan of the Bayou City, Hines graced Houston’s built environment to prestigious art with sustainable function, then made his mark across the nation, establishing large local offices in major hubs, including New York, San Francisco, Atlanta, and Chicago. From 1996-2010, Hines made London his home base, having transferred day-to-day operations to his son, Jeff, who became the firm’s CEO and president in 1990.

    While abroad, Hines expanded into major Western and Eastern European markets, securing a footprint that is still growing across the continent. The firm also entered into Asia in the mid 1990s, according to a press release.

    Highlights of Hines work include Significant projects include 53rd at Third, known as the Lipstick Building, New York; 101 California, San Francisco; One Ninety One Peachtree, Atlanta; Three First National Plaza, Chicago; Five Hundred Boylston, Boston; DZ Bank, Berlin; Porta Nuova, Milan; and EDF Tower, Paris. In addition are Houston landmarks, One Shell Plaza; The Galleria; Pennzoil Place; Bank of America Plaza; JPMorgan Chase Tower, and Williams Tower.

    “Beyond his significant, impactful career and his pioneering contributions to architecture, sustainability and the built environment, Dad felt his greatest achievement is the team of dedicated professionals who have, and will continue to, carry on his legacy of peerless quality, integrity and innovation,” stated Jeffrey C. Hines.

    Hines graduated from Purdue University with a degree in Mechanical Engineering and later received honorary doctorates from both Purdue and the University of Houston. He was the 2002 recipient of the Urban Land Institute’s Prize for Visionaries in Urban Development and is an honorary Fellow of the American Institute of Architects.

    He counted among his proudest accomplishments the Gerald D. Hines College of Architecture at the University of Houston and the establishment of the Urban Land Institute’s Gerald D. Hines Student Urban Design Competition.

    Hines is survived by his wife, Barbara, four children, 15 grandchildren, and one great grandson. Hines will be laid to rest in a private family ceremony in Aspen, Colorado.

    A celebration of his life will be held at a future date when it is safe to congregate, according to the family.

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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
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