MANY THINGS… The sunshine. Being able to play golf 365 days a year. International dining. A truly diverse culture. Great education opportunities. World-class arts. The people. And that’s just for starts.

Houston’s quality of place makes it one of the best places in the world. From business opportunities to recreation, from high culture to haute cuisine, Houston has it all.

THE PERFORMING ARTS

Houston is one of few cities in the country boasting major symphony, ballet, opera and theater companies that enjoy world acclaim.

Says Hoyt T. Mattox of Houston’s Society for the Performing Arts, “We often hear people say they are surprised by the wealth and variety of our performing arts opportunities here in Houston.”

Dance and Music

Hailed by the New York Times as “one of the nation’s best ballet companies,” theHouston Ballet is the fifth-largest company in the United States. The 52-member ensemble gives more than 75 performances each year at Houston’s Wortham Theater Center.

The 92 year old Houston Symphony brings some 170 performances of classical renditions annually at Jones Hall, Miller Outdoor Theater and the Cynthia Woods Mitchell Pavilion.

One of the nation’s largest opera companies, the Houston Grand Opera, is internationally renowned for its contemporary and classical works.

Other musical groups include DeCamera’s small ensembles performing classical chamber music and jazz; Houston Conservatory of Music; Houston Masterworks Chorus; Moores School of Music; University of Houston; Opera in the Heights; and Shepherd School of Music, Rice University; and contemporary pop/rock, jazz, Christian, country, fold and children’s programming.

LIVE ARTS & ENTERTAINMENT

Theater

If it’s theater you love, you’ll be impressed to know Houston has one of the country’s largest concentrations of seats within its theater districts.

The curtain comes up nearly every night on a production in Houston, whether it’s a Broadway touring company at theHobby Center for the Performing Arts, a world-premiere showing at the Alley Theatre, a show at Main Street Theateror a cutting-edge piece being directed by students on the region’s college and university stages.

Art and Art Museums

The Houston Museum District, located 15 minutes from Downtown is the fourth-largest in the United States and is home to such venues as the Museum of Fine Arts, Houston; the Buffalo Soldiers Museum; and the Houston Childrens Museum. There’s also the Houston Museum of Natural Science, theHolocaust Museum Houston, theContemporary Arts Museum and theMenil Collection.

Art galleries line the streets of the Montrose area, and both residents and tourists enjoy the unique art at the Art Car Museum and the Orange Show Museum.

ArtsHound.com offers a comprehensive guide for Arts and Cultural event information in around The City of Houston. You can find a point of interest or something new for everyone spanning from art gurus to the curious.

Entertainment

Houston live entertainment venues put on a variety of programs and concerts. International stars routinely take the stage at the Toyota Center, Verizon Wireless Theatre and the Cynthia Woods Mitchell Pavilion, to name a few. Concerts, comedy and other shows are offered regularly.

For entertainment with a Western flare, check out the annual Houston Livestock Show and Rodeo. This three-week event held every February and March features concerts, food and a live entertainment lineup that’s included stars such as George Strait, Faith Hill, REO Speedweagon, Beyonce and La Mafia.

If it’s big-screen action you’re looking for, Houston has several theaters showing the latest in Hollywood and indie flicks. Chains such as AMC and Leow’s all have outposts here. The Angelika Film Center and Café and River Oaks Cinema have a more independent and foreign-film flair.

Reprinted from The Greater Houston Partnership website

Houston #1

• Best City to Live, Work, and Play
  Kiplingerís Personal Finance ñ July 2008
• Best U.S. City to Earn a Living
  Forbes.com ñ August 18, 2008
• Best City for Your Job
  BusinessWeek ñ June 12, 2008
• Best City to Buy a Home
  Forbes.com ñ July 14, 2008
• Best City for Recent College Grads
  Forbes.com ñ June 26, 2008
• Fastest Job Growth (06/07 to 06/08)
  U.S. Bureau of Labor Statistics, Metropolitan Area Employment
  and Unemployment
• Lowest Cost of Living Among Major Metro Areas
  ACCRA Cost of Living Index ñ Second Quarter 2008
• Top U.S. Manufacturing Cities
  Manufacturersí News Inc. (as reported in the Houston Business Journal)
  ñ May 30, 2007
• Most Accessible City for the Disabled
  The National Organization on Disability – February 14, 2008
• Top Local Government Green Power Purchaser
  Environmental Protection Agency ñ July 2008
• Americaís Best Hospitals ñ Cancer, M.D. Anderson
  Cancer Center
  U.S News & World Report ñ July 2008
• Highest Population Growth in the Nation
  U.S. Census Bureau (as reported in the Houston Business
  Journal) ñ July 10, 2008

Houston #2

• Nation’s Top Export Markets
  U.S. Department of Commerce ñ July 14, 2008
• Nominal Job Growth (06/07 to 06/08)
  U.S. Bureau of Labor Statistics, Metropolitan Area Employment
  and Unemployment

Houston #3

• Best Cities for Young Professionals
  Forbes.com ñ July 09, 2008
• Number of Fortune 500 Headquarters
  Fortune – April 21, 2008
• Nation’s Most Charitable Cities
  Charity Navigatorís 2008 Metro Market Charitable Analysis Study

Houston #4

• Best Big City for Business
  Inc.com ñ July 2008
• Top Ten Up-and-Coming Tech Cities
  Forbes.com ñ March 10, 2008
• Top Cities for African Americans
  BlackEnterprise.com ñ September 17, 2007

Houston #7

• Best Cities for Jobs in 2008
  Forbes.com ñ January 10, 2008

Houston #10

• Top Ten Cities for Green Technology Innovation
  SustainLane ñ March 2007
• Top Ten Cities for Hispanics
  Hispanic Magazine- August 2008

Houston #12

• Top Trading Cities
  Trader Monthly ñ June/July 2008

Texas

• Texas Childrenís Hospital #1 cancer care hospital
  for children in Texas
  U.S. News & World Report – September 30, 2008
• America’s Top State for Business
  CNBC.com ñ July 2008
• Most Favorable Business Climate in the Nation
  Development Counsellors International (DCI) ñ “Winning
  Strategies in Economic Development Marketing” ñ July 2008
• Best State To Do Business
  Chief Executive Magazine ñ January 2008
• U.S.ís Top Exporting State
  WISERTrade ñ February 2008
• 2008 Gold Shovel Recipient
  Area Development Magazine ñ June/July 2008

Submitted by Mckenzie Drake

www.mckenziedrake.com

Houston Business Journal – by G. Scott Thomas Special to Houston Business Journal

The Southwest has become the new frontier for young Americans.

According to a new Portfolio.com/

bizjournals study, men and women in their 20s and 30s say that part of the county offers the best sanctuary in a recessionary economy. And Houston figures prominently in that thinking.

The study of 67 metro areas nationwide shows that five Southwestern metropolitan areas, led by No. 1 Austin, rank among the nation’s eight best places for young adults (see accompanying chart).

Austin has two key qualities that make it stand out from the pack, the study shows.

Two-thirds of the nation’s major markets have fewer jobs now than five years ago, but Austin added 99,200 jobs during that span. Its annual employment-growth rate of 2.8 percent is the fastest in America.

What’s more, Austin has the strongest concentration of young people among the metros studied, with 28 percent of its residents between the ages of 18 and 34. The median for the study group is 23.1 percent.

Washington, Raleigh and Boston are the three runners-up in the study’s rankings of the best places for young adults. They’re followed by four Southwestern metros — Houston, Oklahoma City, Dallas-Fort Worth and Tulsa — that occupy fifth through eighth place.

Portfolio.com/bizjournals analyzed the 67 U.S. metros with populations above 750,000, searching for qualities that would appeal to workers in their 20s and early 30s. The study’s 10-part formula gave the highest marks to places with strong growth rates, moderate costs of living and substantial pools of young adults who are college-educated and employed.

Here’s a quick look at the Top 5 metros for young adults, as well as the other major Texas metros in the Top 10.

1. Austin: The Texas capital’s two dominant qualities were noted above. But its attractiveness to young adults is broadly based. Austin ranks among the 10 leading markets in five of 10 categories that were analyzed.

2. Washington, D.C.: Educated young adults flock to Washington, where 35.8 percent of all 18-34-year-olds hold bachelor’s degrees. The study group’s median is 23.2 percent. Per capita income ($56,510) is well above average.

3. Raleigh, N.C.: This is the fastest-growing major metro in the nation. The population of the Raleigh area is increasing by 3.9 percent per year. That’s more than triple the pace for the typical market, 1.2 percent.

4. Boston: Elite universities such as Harvard University and Massachusetts Institute of Technology give Boston its intellectual cachet. The local share of young adults with college degrees (37.6 percent) is the highest in the country.

5. Houston: Employment opportunities abound in Houston. Its job-growth rate (1.7 percent per year) ranks among the five best in the nation. And so does its annual upswing in per capita income (6.6 percent).

6. Oklahoma City: The unemployment rate for young adults is lower here than anywhere but Salt Lake City and Tulsa. Oklahoma City also enjoys the nation’s third-best pace for annual income growth, a rapid 7.2 percent.

7. Dallas-Fort Worth: The recession caused some backsliding in 2009, but Dallas-Fort Worth still has 206,000 more jobs than it did five years ago. Local population is zipping higher by 2.4 percent per year.

8. Tulsa, Okla.: Here’s an area that’s a true bargain. Median rent is $508 per month in Tulsa, the third-lowest figure in the study group. Compare that to such budget-breakers as San Jose (median rent of $1,334) or Honolulu ($1,227).

9. Seattle: This high-tech metro offers a wide range of good-paying jobs. Seattle ranks among the 10 markets with the largest per capita incomes ($50,471) and smallest unemployment rates for young adults.

10. Baton Rouge, La.: Louisiana is on its way back from the wrath of Hurricane Katrina, and this is one of its success stories. Baton Rouge boasts a high concentration of young adults (26.1 percent) and a strong rate of income growth.

The least desirable market for young adults, according to the Portfolio.com/bizjournals study, is Detroit, which shares the pain of the major automotive corporations based there.

Methodology for the study

Portfolio.com/bizjournals set out to find the U.S. markets that are best for young job-seekers.
The study’s objective was to identify markets that offer the best opportunities for workers in their 20s and early 30s. It gave the highest marks to communities that have strong growth rates, moderate costs of living and substantial pools of young adults with jobs and college degrees.
The study covered all 67 metropolitan areas with at least 750,000 residents as of mid-2008, using data from the U.S. Census Bureau’s American Community Survey; employment figures from the U.S. Bureau of Labor Statistics and income figures from the U.S. Bureau of Economic Analysis. Growth rates were calculated by bizjournals, based on data from all three agencies. All statistics were the latest available when the study was prepared.
A 10-part formula was used to rate each market’s receptivity to young job-seekers. The first five factors dealt with each area’s growth rate and potential. The next four categories assessed conditions for young adults. The final indicator focused on a key component of the cost of living.
Each area’s statistics were compared against the averages for the study group in all 10 categories. Above-average performances received positive scores, while below-average results were given negative scores. Each area’s 10 category scores were totaled to determine its overall rank. Opportunity scores ranged from 10.08 points for Austin to minus-12.53 points for Detroit. – G. Scott Thomas

The Houston-Baytown-Sugar Land area was the fifth-best market in 2009 for companies that wanted to either build new, or expand existing, corporate facilities, according to a recent study.

Site Selection magazine, a publication that covers corporate real estate and economic development, evaluated various regions’ corporate recruiting successes. In 2009, the Houston area was selected by 123 companies as the site of either a corporate expansion or relocation, the publication said.

“In the past year, the Houston region faced — and overcame — the economic downturn challenges through aggressive recruitment and retention efforts and a renewed commitment to fight for high-paying jobs,” says Jeff Moseley, president and CEO of the Greater Houston Partnership. “Site Selection’s recognition of Houston’s prominence for corporate expansions and relocations bears out what our numbers prove.”

The top-ranking regions were considered as long as they attract facilities that come with at least a $1 million capital investment and the creation of 50 or more jobs and the leasing and/or building of 20,000 square feet or more. Houston was topped by New York City, Chicago, Dallas-Fort Worth and Detroit.

Life Science Plaza earns LEED Gold

Toronto-based Metrontario Group has been awarded LEED Gold Certification for Life Science Plaza, a 14-story, Class A medical office building located at 2130 West Holcombe Blvd.

The new building earned the certification from the U.S. Green Building Council under the Core and Shell Pilot standard.

The 715,500-square-foot Life Science Plaza is the largest LEED Gold-CS certified building in the Texas Medical Center submarket, and the first medical office building in Houston to receive LEED Gold-CS certification. Life Science Plaza is the Metrontario Group’s first LEED certified building and was designed, constructed, and managed by a team of LEED-accredited professionals. Jones Lang LaSalle Inc. provided project and building management services and coordinated with Kirksey Architects to gain the LEED Gold-CS certification. Other firms involved include BDMI MEP Engineers, Haynes Whaley Structural Engineers and Pepper-Lawson Construction Co.

“LEED certification is still fairly rare among multitenant medical office buildings, even though most tenants say they want it,” says general manager Karen Tucker of Jones Lang LaSalle. “The Metrontario Group deserves recognition for investing the time and money to make Life Science Plaza one of the greenest buildings in the city.”

Lease agreements reached for West Houston building

Panattoni Development Co., Inc. has reached leasing agreements with several tenants for its Class A flex facility in West Houston.

The most recent lease was executed with Carbo Ceramics Inc. for 15,000 square feet. Mark Russell of Studley represented the tenant in the transaction and also represented Zeitecs Inc. for 16,000 square feet in a deal that was completed in April of 2009. The largest tenant in the building is Acosta Inc. with 28,500 square feet. Acosta was represented by Dan Boyles and Griff Bandy of NAI Houston.

John Pruitt, Jessica Ochoa and Kristen Rabel of CB Richard Ellis represented Panattoni in all of the transactions and are currently marketing the remaining vacancy within Beltway 8 Corporate Centre. The building at 5050 Westway Park Blvd., represents the fifth phase of a 120-acre business park.

Occupancy of the 63,500-square-foot building is now at 92 percent, according to Justin E. Bennett, development manager of Panattoni.

“The transactions completed in the building illustrate the strength of the Houston marketplace despite the challenges that exist in today’s commercial real estate market,” Bennett says.

Renovated medical building earns annual BOMA award

A medical office building at Christus St. John’s Hospital was named “Office Building of the Year” in the Renovated Building category by the Houston Area Building Owners and Managers Association, or BOMA.

Cambridge Healthcare Properties announced that Physicians Medical Center I earned the award, which recognizes quality in office buildings and excellence in building management.

Cambridge purchased Physicians Medical Center I, constructed in 1981, along with another on-campus property from Christus in 2004 and has worked with the health system to retain and attract primary care and specialist physicians. During 2007-2008, the building was renovated and expanded by nearly 8,800 square feet to welcome The University of Texas M.D. Anderson Cancer Center as a long-term anchor tenant. M.D. Anderson now occupies approximately 12,550 square feet on the first floor and recently expanded into 16,000 square feet on the third floor. The second-largest tenant is Christus St. John Sports Medicine and Therapy Center, occupying nearly 14,500 square feet on the first floor.

The interior common areas were upgraded to Class “A” status, and exterior improvements encompassed new paint and landscaping to complement neighboring Christus St. John Hospital’s renovation and expansion.

Physicians Medical Center I is 100 percent leased and home to seven medical practices specializing in orthopedic and general surgery, otolaryngology, sports medicine, physical and pediatric therapy, internal medicine, rheumatology and oncology. Renovation and tenant improvement investments in the building total more than $7 million, and an additional $500,000 is budgeted for 2010.

Judging by officials included on-site inspections of policies and procedures manuals, preventive maintenance logs, mechanical and electrical rooms and roof and HVAC equipment. The written submission addressed topics such as the history of the building, renovations, tenants, amenities, staff, training, energy conservation, community involvement and emergency preparedness/business continuity.

On-site management includes Laura Williams, property manager, Mark Jordan, building engineer, and Leo Tapia, day porter.

Watching 30-year fixed-rate loans hovering between 4 percent and 5 percent and tax credits galore for first-time buyers, one might think it’s a good time to be in the market to buy a house.

But as the recession grinds on, statistics show buyers haven’t yet made a significant return to the housing market.

“With credit tightening, there are a lot of people who are not able to secure financing,” says Vicki Fullerton, chairwoman of Houston Association of Realtors. “They have either lost money in the stock market or are afraid of losing their job. Some others are just not willing to commit right now to applying for a mortgage loan.”

Increasingly, families are opting to lease until the recessionary clouds blow over. According to HAR’s recent study of Houston’s residential real estate market, demand for all rental properties has been on a steady rise. In Houston, single-family home leases are up more than 4 percent on a year-over-year basis, while leases for townhomes and condominiums are up more than 26 percent.

“We continue to see the leasing markets strong,” Fullerton says. “Until people’s confidence levels are back up and they can get back on their feet, rentals will remain in demand.”

Home leases popular

Demand in single-family home leasing leads the way, which is no surprise to Fullerton.

“It gets them close to what they really want, which is family ownership of a single-family home,” Fullerton says. “If they can only lease a piece of property in a school district where a child can get a good education, they are more inclined to do so.”

Still a rare occurrence even in this economy, some tenants are finding themselves back in the market after banks foreclose on landlords’ properties.

Eric Bradley, a Realtor at Houston-based In the Loop Properties, says the story he has heard from prospective tenants coming in to his office more and more has been one of involuntary entry into the leasing market.

“We are hearing from the other side,” Bradley says. “From people who were leasing because they have been forced out by owners who couldn’t pay their mortgage.”

Business has been steady at In the Loop, Bradley says. The summer months are their busy season and even in a sour economy, homes are still leasing.

“This last month has been insanely busy,” Bradley says.

Apartments flat

Demand for rental homes may be up, but Etan Mirwis, president of property management firm Rockwell Management, says demand for apartments has yet to rise, despite heavy competition between new construction and existing complexes.

While difficulty obtaining financing and an uncertain job market have sent potential homeowners into the single-family rental market, apartments have remained flat compared to last year, says Mirwis.

“If anything, Class A properties leasing has gone down,” Mirwis says. “A lot of the new Class A properties are under pressure from their bridge lenders to lease up their properties.”

But in the current climate that is difficult to do, he says. What’s more, due to triggers in their loans, some property owners must meet certain occupancy rates by a pre-set amount of time or the loan may be called. That has caused some new Class A complexes in Midtown, the Medical Center and other Inner-Loop neighborhoods to offer large concessions to potential tenants to get them in often in the form of several months free rent, Mirwis says.

“In the last 60 to 90 days, a lot of new complexes that have not offered significant specials are doing so,” Mirwis says.

Although Rockwell’s properties have not fallen under these occupancy requirements, Mirwis says he has reduced rates at some locations for the first time ever to compete with other complexes’ offerings.

Mirwis says he hasn’t yet seen an increase in demand for Rockwell’s Class B and Class C properties either, but as single-family home sales continue to slump, this is the category he suspects will have a rise in occupancy as a result.

“That’s because those once long-term renters were expected to become homeowners,” Mirwis says. “But if the faucet is being turned off, they will look for affordable, well-maintained apartment complexes.”

And so far, that faucet appears to remain closed off. According to the HAR report, single-family home sales continue to slide. In March 2009, single-family home sales were 4,355, down 13.4 percent from the same time last year and represented the 19th consecutive monthly drop. At an average sales price of $178,477, single-family home prices have slipped 5.5 percent over the same period as well.

Mirwis says within the next two to three years, well-maintained apartment properties within the Class B and C range will see an increase in demand from prospective renters. Those renters will also stay much longer.

“We are seeing fewer people move out than in the past,” Mirwis says. “Turnover for me has been down 10 percent.”

Fullerton says she is optimistic that conditions in the economy will right themselves and aspiring home buyers will return to the market. But that won’t happen until people feel comfortable with their job security, says Fullerton.

Until then, Fullerton says, “We will see a continual increase in people jumping into the leasing market.”