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    City Changer

    New convention hotel brings talk of a sweetheart deal, a Texas-shaped pool & anurban look

    Tyler Rudick
    Dec 17, 2012 | 11:37 am
    • Construction on the new Marriott Marquis is slated to begin in 2014 and has aprojected completion date of spring 2016.
      Rendering courtesy of Morris Architects
    • Designed by Houston firm Morris Architects, the hotel will build off the successof Discover Green and concentrate on fostering public space.
      Rendering courtesy of Morris Architects
    • Oh yeah . . . and the Marriott will have a pool shaped like Texas.
      Rendering courtesy of Morris Architects
    • A public plaza will mark the hotel entrance, breaking from the traditional darkvehicle drop-off zones of yore.
      Rendering courtesy of Morris Architects
    • In the next decade, developers hope the project will transform the area into oneof the nation's top convention destinations.
      Rendering courtesy of Morris Architects

    In a effort to create more hotel rooms within walking distance of the George R. Brown Convention Center, Houston city council is blessing a deal to build a new Marriott Marquis on Avenida de las Americas between Rusk and Walker.

    Situated across from Discovery Green, the $266-million hotel will be connected via skyway to the convention facility, bringing 1,000 rooms to an area long short on lodging space.

    Officials with the RIDA Development Corporation and city government group Houston First Corporation — the entities leading the project — say that the building will produce more than 1,800 construction jobs, as crews break ground in 2014. When the hotel opens in spring 2016, another 700 jobs are expected to be added to the local hospitality industry.

    Directly north of the GRB between Rusk and Capital, Houston First will build a parking garage with 1,800 spaces to accommodate guests and downtown visitors.

    According to company vice president of acquisition Luke Charlton, RIDA proposed one of the lowest municipal incentive packages of the 11 bidders on the hotel development. City council members approved the following for RIDA:

    • $27 million in grant money from the city
    • $31.7 million land donation from Houston First, which will purchase the site from the city
    • city rebates for sales, hotel, property and beverage taxes for the next 20 years (not including METRO and ISD taxes)
    • state rebates for sales and hotel taxes for next decade
    • RIDA will lease garage space from Houston First for roughly $1.2 million a year
    • RIDA will own the building

    "While Houston is the fourth largest city in the country, it doesn't have the reputation as a convention destination," Charlton says. "With the Marriott, though, we hope to get meeting planners to see the city in a new light. Building on the work Houston First has done throughout the GRB area like Discovery Green, we plan to truly elevate the city into the national convention market."

    Different times

    Critics of the Marriott package frown upon the idea of handing over $58.7 in cash and land incentives to RIDA — noting that, a decade ago, the city funded a GRB expansion, the Hilton-Americas and Discovery Green using $316 million in public bonds without offering tens of millions in direct grants to developers.

    Houston First CEO of hotels Peter McStravick tells CultureMap that the city corporation is in a different place than it was in the early 2000s.

    "While are current financials are strong, we simply don't have the same collateral as we did ten years ago," McStravick says. "All of our bond leverage is still locked up in the Hilton-era projects, which is why we needed a developer to front a significant portion of the funding."

    The total Marriot project is projected to cost roughly $324 million, according to McStravick. Of that, RIDA will pay the $266 million to build the hotel with the city balancing out the rest with its $58.7 in cash and land incentives.

    Preliminary designs

    Leading the design of the new building is Houston firm Morris Architects, which will work with both RIDA and Marriott throughout 2013 to devise a welcoming environment that meshes with the surrounding cityscape.

    "This can't just be another 1,000 rooms. The project needs to transform the area and feeling around the convention center," architect Doug Childers says. "This is a very open urban hotel, rather than a closed-off island."

    "We've decided to design the hotel from the ground level up, making sure the busy public area will connect with the park both visually and literally."

    As such, an open public plaza across from Discovery Green will mark the hotel entrance rather than a dark vehicle drop-off zone.

    "We've decided to design the hotel from the ground level up, making sure the busy public area will connect with the park both visually and literally. The building will have activity on all four corners with a sports bar, coffee shop, restaurant and possibly a local retail space."

    As an added bonus, future Marriott guests will get to experience firsthand what is sure to be one of the city's kitschiest landmarks to date . . . a gigantic swimming pool in the shape of Texas.

    unspecified
    news/real-estate

    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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