It seems like with each new day, there is a new development project in the greater Houston area. With new buildings going up all the time, there is a growing number of developers who are focusing on redevelopment projects instead. These redevelopment projects can provide a lot of benefits to any city, but one growing as fast as Houston can see a lot of changes.
Jerome Karam and his company JMK5 Holdings have a few projects catching the attention of many in the Houston area. He believes that others are falling in love with these ideas, and it will only be more and more popular to go into existing communities and buildings and inject life into them once again.
What are some of the standouts making an impact in the greater Houston area today? These JMK5 Holdings real estate projects shine above the rest in the area.
Falstaff Hotel
Originally known as the Falstaff Brewery, this real estate project brings a historic location back to life. The building goes back to 1895 and has been an instantly recognizable building for anyone passing through. Unfortunately, Falstaff Brewery went from one of the largest in the nation to moving its headquarters out in 2015. JMK5 Holdings decided to purchase the property and redevelop it into a hotel with plenty of other things to offer.
The Falstaff Hotel is a place for large get-togethers, storage units, and of course, 110 rooms available for guests. Once up and running, it will turn into one of the most luxurious options in the area for visitors. Karam believes that it will be one of the focal parts of the entire area for years to come.
World Gym Houston
YMCAs all across the United States hold historical value. Many were sad to see the Cossaboom Family YMCA close up a few years ago, but JMK5 Holdings came in and decided to rejuvenate the location. The company understands the importance of having a place for fitness in communities like this, and turning it into World Gym Huston made a lot of sense. People with a routine of getting in shape and going to the old YMCA can now go back and enjoy most of what used to be available.
As much space as World Gym Houston uses, the fitness center doesn’t need every square inch of the five-story building. That’s why there is a self-storage facility that is also included on the property. Turning a historic location into something that serves multiple purposes makes a lot of sense for all involved. The community will benefit greatly from having so many resources nearby.
Bayou Bend Estates
Karam firmly believes that this is one of the most interesting redevelopment projects currently in the Houston area. The plan is to turn this into a 47-family community offering waterfront property to all. Located in the Dickinson area, the estates will be used as either a second home for some or a permanent location. Lot sizes will be on the large side, with options going up to 1 acre of land.
Bayou Bend Estates offers a way to feel slightly away from the city without being too far from everything. Living in a redeveloped area that still has historical value is very enticing to a lot of potential buyers. Many people are already interested in buying property once it becomes available, and with just 47 lots, it will fill up quickly.
What Type of Impact will Redevelopment Make in Houston?
Houston‘s size is getting to the point where many people are frustrated about having to build out more and more with development to have any space whatsoever. That’s why redevelopment is on the rise, and these three are just a few examples of that. Karam believes that there is a bright future in Houston with redevelopment projects around the city, injecting life into areas that might feel a little bit rough. Despite a lot of people just now moving to the area, Houston has plenty of historic neighborhoods with redevelopment opportunities.
There are numerous benefits to redevelopment instead of building brand new buildings. Not only is turnaround time usually faster, but it allows older communities to keep their character. Keeping things affordable as a redeveloper will help people take advantage of the new offerings as well. It’s inspiring for other parts of the neighborhood to focus on improving the look and building up certain areas once again. Pockets of town can look much different after just a few redevelopment projects.
This trend is exploding in Houston but other major cities as well. Looking for alternative ways to make a building look brand new is encouraging for many. Growth in an established part of town will always be more well-received when older buildings are being preserved as much as possible.