Houston experienced significant economic resilience and growth amidst looming concerns of a recession. Despite slowdowns across sectors, the Bayou City continued to create jobs, adding 53,700 in the first 10 months of ’23, according to the Partnership’s Houston Region Economic Outlook report. While the real estate market faced challenges, the greater Houston region saw many dynamic projects come to life, including the opening of Helix Park, the Texas Medical Center’s first phase of its new 37-acre campus.  Looking ahead, here are a few developments that will impact Houston’s economy in 2024.  Arco Del Tiempo Serving as the centerpiece in Houston’s East End Guadalupe Plaza Park, Arco Del Tiempo is a new environmentally sustainable art installation aiming to advance the region’s transition to an energy abundant future. Standing at a 100-feet tall, Arco Del Tiempo will not only generate power for the nearby City-owned Latino multicultural performing arts theater, Talento Bilingüe de Houston, but it also will offer a gathering space for the community. Arco Del Tiempo is set to be installed in 2024.  Click to expand Austin Point Austin Point is a first-of-its-kind 4,700-acre master-planned town that will feature 1,600 acres of mixed-use commercial development space and a walkable downtown area with hospitals, life sciences labs and corporate headquarters. The first phase of the development will include The 1824, a central park and community center with a café, wine bar, large front porch, an event lawn, children's play area, beer garden, food truck court, walking trails and a dedicated space for outdoor fitness activities and games.   Autry Park Spanning 14-acres in Montrose, Autry Park is an urban village designed to increase connectivity and walkability to food, entertainment, retail and living in the area. The project's first phase includes two apartment buildings, Hanover Autry Park, a 24-story apartment tower with 324 units, and Hanover Parkview, an eight-story mid-rise with 421 units, both have already opened. Phase two is projected to open at the end of 2024 with additional commercial tenants and retail space. BioHub II at Generation Park Generation Park, Northeast Houston’s massive commercial development, is set to open its new state-of-the-art, 45-acre biomanufacturing hub – BioHub II this year. The new master-planned campus will include 500,000 square feet for cGMP manufacturing, lab and office space and house the biomanufacturing workforce institute that will offer certificate coursework in bioprocessing to students, further expanding the region’s life sciences ecosystem and workforce.  Click to expand East Blocks  A redevelopment project led by Houston-based Pagewood and Wile Interests aims to transform former warehouses in EaDo into a walkable 10-block mixed-use district. East Blocks is expected to break ground in the second quarter of 2024 and will encompass 513,000 square feet southwest of Shell Energy Stadium. Phase one will include a unique blend of restaurants, shops, office and green space and will include existing tenants 8th Wonder Brewery and Pitch 25, while phase two will focus on additional retail and restaurant space. The Allen The Allen, a sophisticated new mixed-use development is currently underway in Houston’s Allen Parkway corridor. The first phase, The Residences at The Allen, includes the development of a $290 million, 35-story skyscraper that towers over Buffalo Bayou Park. The stylish new building offers luxury condos, high-rise penthouses and a sleek 170-room Hotel – the Thompson, which opened earlier this year. Phase II of The Allen is anticipated to break ground in early 2024 and will include more retail and restaurant space and luxury multi-family living.  Click to expand The Commons at Hermann Park Hermann Park is changing the game for green spaces in the Houston area with its new groundbreaking 26-acre development – The Commons. Slated to open to the public this week, The Commons aims to revolutionize the beloved park with a unique collection of play areas, including an immersive space-themed area and a life-sized carousel. The commons also features many new gathering spaces including a Central Lawn and the Live Oak Terrace.  The Houston Astros Entertainment District  The Houston Astros expect to break ground on a new entertainment district adjacent to Minute Maid Park in Nov. 2024 The district will feature a 17-story hotel, 60,000 square feet of retail space for restaurants and shops and a three-level gathering area for fans to watch Astros games and other major sporting events on a massive outdoor screen. The venue will also host live music performances. The Grand at 249 Situated at the corner of the Grand Parkway-Highway 249 intersection, the groundbreaking 65-acre retail center dubbed The Grand at 249 will span 404,256 square feet in Tomball, making it the largest retail concentration within Houston's northwest submarket. Slated for completion in 2025, The Grand at 249 will boast 12 pad sites and include tenants such as AT&T, Boomer Jack's, Gringo's, Jersey Mike's, Milano Nails and Two Pho Nine Asian Fusion.   Learn more about why businesses are choosing Houston and what it means to live, work and play in the Bayou City. 

A groundbreaking 925-acre urban district situated in the heart of Bridgeland, Cypress’ massive master-planned community, is beginning to take shape as construction commences on its mixed-use development.   Spanning 70-acres, Village Green at Bridgeland Central aims to redefine Houston’s Northwest market, offering more than 28,000 square feet of retail and restaurant space, as well as a 100,000-square-foot H-E-B and 49,000-square-foot sustainable office building dubbed One Bridgeland Green.    Click to expand According to Bridgeland’s website, One Bridgeland Green will be the region’s first mass timber office development. Designed to reduce 20 percent of greenhouse gas emissions and 80 percent of its annual water consumption, the building sets a new standard for the future of eco-friendly workspaces.   Village green will service nearby residents of the district’s already developed apartment complex Starling at Bridgeland, which opened in 2022, and its 150-unit townhome community Highland Homes.   Click to expand Although its urban district is still in the early stages of development, Bridgeland has been steadily evolving since 2003. The 11,500-acre master-planned community has since garnered significant acclaim for its array of residences, schools and abundance of outdoor amenities.   Ranking amongst the top five bestselling master-planned communities in the nation, Bridgeland has witnessed a remarkable surge in new home sales, reaching a 74 percent increase year-over-year, according to real estate consultant firm RCLCO. With this momentum, the community is poised to reach its full build-out potential, accommodating an estimated 70,000 residents in the near future.  As Bridgeland continues to revolutionize living in greater Houston, the community's innovative and family-friendly landscape draws the attention of businesses, developers and new residents, driving substantial growth to the area.   According to Community Impact’s analysis of the U.S. Census Bureau’s American Community Survey, Cy-Fair grew by more than 52,000 residents from 2016-2021, marking a 9.4 percent increase in five years.  To accommodate growth, the Grand Parkway from I-10 to U.S. 290, which opened in 2013, is expected to be widen in 2026, improving mobility. Cy-Fair ISD is also responding to the increasing demand for education services by opening two new schools.   Click to expand As developers add more homesites and mixed-use developments to the area, companies are taking note in hopes of establishing a presence where people can live and work. Last year, Chevron acquired more than 77 acres of undeveloped land in Bridgeland for a possible research and development campus.  “Chevron is attracted to the opportunities Bridgeland has to offer and views this acquisition as a strong addition to our asset portfolio,” Daniel Abate, head of Chevron’s corporate real estate, told the Houston Chronicle.  Discover more about Houston’s neighborhoods and communities.