In the News—Week of June 29, 2020
Around the Nation
Millennials are choosing Phoenix, Houston, other cities over New York
Business Insider reports that New York and San Francisco have lost a little of their cachet with the younger set. A survey by Smart Asset using census data shows that millennials are settling elsewhere. New York didn’t make the top 25. Phoenix ranked eighth and Houston sixth. Two other Texas cities made the top 10 – San Antonio (fourth) and Austin (third). Seattle topped the list.
Energy & Environment
Cornell project brings energy-efficiency to historic buildings on campus
Cornell’s 163-year-old College Hall is about to get a little modernization, the school’s news center reports. College Hall and Old Sem, also built in the 1850s, will receive 150 energy-efficient windows. The window upgrade is part of a $5.9 million plan with Johnson Controls. The plan will reduce Cornell’s energy consumption by 20%.
Goosehead Insurance expands footprint at Solana in Westlake
Goosehead Insurance expanded its headquarters in Westlake by more than 40,000 square feet, Fort Worth Business reports. The expansion will give Goosehead more than 150,000 square feet at The Terraces at Solana. The insurance company will occupy one entire building and a full floor of another building. Goosehead was founded in 2003 and went public in 2018. The firm has more than 1,000 operating and contracted franchise locations and represents over 100 insurance companies.
Hines unveils plans to build 52-acre biotech hub in Houston
Hines is getting into the life sciences game, partnering with 2ML to develop a 52-acre biotech and mixed-use project in south Houston, Commercial Property Executive reports. Named Levit Green, the project will be within 3 miles of downtown Houston, at the intersection of Holcombe Boulevard and Texas 288. The project is near TMC3, a 30-acre medical research campus at the Texas Medical Center complex. The site is the previous home of wholesaler The Grocers Supply. Hines will serve as development partner and 2ML will provide the land. The Houston area has more than 18,000 biotech specialists and 25,700 medical researchers.
Eight-story Hyatt Place going up in downtown Phoenix
A sign of the recovering Arizona economy, construction is moving forward on the Hyatt Place in downtown Phoenix, AZ Big Media reports. The 238-room, eight-story building will have an art deco design to blend with the nearby historic Orpheum Theater. The hotel is expected to open in September 2021. “The construction of the Hyatt Place Hotel across the street from Phoenix City Hall is a testament to confidence in the resiliency of the Phoenix economy,’’ Phoenix Community and Economic Development Director Christine Mackay says.
Mexico City mayor turns to construction to jump-start economy
Mayor Claudia Sheinbaum says the Mexico City government will invest $3.3 billion to get the economy up and going again, Mexico News Daily reports. About a third of that will go to public infrastructure and the rest will go for residential and commercial developments. Some of the project will be located on the city’s iconic Reforma Avenue. Most business are still closed in the city, but construction is up and running again. “Since April … 220,000 jobs have been lost (in Mexico City) due to the pandemic. With this reactivation program, we want to create 987,183 jobs, of which 554,800 will be direct,” Sheinbaum says.