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The recovery process is estimated to be 100 days for every day of the storm, which in Harvey's case was 10 days of significant rainfall, so that is an estimated 1,000 days for the Houston area to recover, GlobeSt.com learns in this <b>EXCLUSIVE</b>.
The recovery process will bolster the Houston employment market, creating a short-term jolt in hiring and economic growth, apartment demand is likely to surge and hotels are providing short-term housing needs.
The submarket is attractive because of its proximity to the CBD and the Galleria; overall, investors are looking for assets with the notion that the energy downturn is in the past and now is the time to re-enter the market.
On the site of the 1950s-era Southwestern Bell building, The Hyatt Place will bring a vacant historic building back to life and be part of the continued revitalization of downtown.
Harvey caused many single-family households to be displaced and become new renters, and many multifamily properties were damaged or uninhabitable, driving renters to relocate, GlobeSt.com learns in this <b>EXCLUSIVE</b>.
One firm's strategy includes the acquisition and repositioning of class-C workforce multifamily developments into class-B properties in markets that have good economic and job growth performance.
Texas has been one of the big winners of the decade following the financial crisis–Houston jumped from number 15 to number 11, while Dallas gained six spots on the office investment list, going from number 16 to 10.