Houston's tree gap
Welcome to Real Estate Roundup, a look at some of the biggest real estate and business stories in Houston. In this week's edition, we look at Houston's missing trees, Harris County home prices, a mini walkable city, and Texas' most-expensive homes.
Houston said it would plant 200k trees by 2030 near bayous. They're not close.
If you've ever taken a walk on a hot summer day and happened to pass under the shade of a beautiful, big tree—even if only briefly—then you know the difference that shade can make in dealing with the Houston heat.
But in Houston, shade is scarce. An analysis from the Kinder Institute for Urban Research found that Harris County lost roughly 10 percent of its tree coverage between 2011 and 2021. And that's not all, thanks to climate change, the earth is getting warmer. Last year, the National Oceanographic and Atmospheric Administration recorded the hottest summer on record (in its 174-year history) at 2.59 degrees Fahrenheit above average. And as we've all witnessed, this summer seems to be scorching hot already (with a heaping side of humidity).
As the Texas summer continues to bring more inescapable heat, the urgency of reducing urban heat picks up steam.
But the city of Houston has a plan for that, starting by restoring the natural forests near its waterways. According to the Texas General Land Office's Resiliency Master Plan, Houston aims to plant 200,000 trees along narrow strips of land adjacent to the bayous as part of the Houston Parks and Recreation Department's "Riparian Restoration Initiative." Since YEARTK, the city has planted 35,000.
What's the hold-up in hitting the 200,000 goal? Well, it's the usual suspects: lack of funding and personnel. Read more here.
Harris County homes still more affordable than the rising national trend, study finds
It's no secret that home prices are getting more expensive across the country. Still, despite rising prices, Harris County's median home price is $46,226 less than the national median of $360,000 for a single-family home, according to a new study.
Per a new affordability study by ATTOM , a real estate data company, home prices continue to get less and less affordable across the country compared to historical averages in 99 percent of counties around the nation.
Mixed-use project on old Exxon site in Upper Kirby breaks ground
Construction is finally underway on the 17-acre site of the former Exxon research building on Buffalo Speedway, which will be transformed into an ambitious mixed-use development in Houston's Upper Kirby.
The developer behind The RO, pronounced "row", announced the project was going forward in May, but finally, broke ground on the project last week. The Houston-based firm Transwestern Development Company said in a press release construction is in progress on the project that will transform the site into a "benchmark for mixed-use development in the city."
Texas' top 10 priciest homes listed in June include a mansion on private peninsula
At $49.9 million, 107 TimberWilde Lane, was the most expensive home listed in Texas in the month of June.
This opulent Houston estate is constructed of solid stone and steel rather than a standard wood frame. The residence is composed of Indiana limestone and features many old-world details, such as solid bronze chandeliers and a spiral staircase imported from Paris, France.
The house was custom-built by Colleen Romanov, the ex-wife of tech tycoon Michael Holthouse.
Enjoy your weekend! Looking for more of this week's top stories? Read more at Chron.com.