Houston is undergoing a transformative wave of redevelopment, driven by the efforts of local organizations and developers to enhance the city’s quality of life and urban landscape.   A Downtown Transformation  Click to expand GreenStreet, the four-block mixed-use district in downtown managed by Texas-based real estate firm Rebees, is slated for a multimillion-dollar makeover. Already home to popular destinations such as House of Blues and The Laura Hotel, this renovation project will further enhance its appeal, positioning it as a premier destination for residents and visitors.  Planned updates include converting the former Forever 21 building into a vibrant, pedestrian-friendly alleyway filled with dining, retail and nightlife attractions. Additional enhancements feature the installation of rooftop solar panels, improved landscaping with lush gardens and upgraded office spaces with multi-level amenities. Phase one of construction is expected to commence in Q1 2025 and be completed by Q3.  “The readaptation of GreenStreet will create a new model for urban space in Downtown Houston,” said Mark Motonaga, Creative Director and Partner, RIOS, the design firm leading the project, in a statement. “Our vision draws inspiration from Houston’s diverse culture and seamlessly blends nature, sustainability, and architecture to create a new urban streetscape experience that unfolds across three distinct blocks and builds toward a central hub of activity connecting people at the ground level.”  Breathing New Life into Baytown  Click to expand In Baytown, Fidelis Realty Partners recently broke ground on the redevelopment of the former San Jacinto Mall, which closed its doors in 2022. The 105-acre project, dubbed San Jacinto Marketplace, will include 500,000 square feet of retail and dining space, complemented by a public green space known as Pelican Green, designed for community gatherings and events. Pedestrian walkways will also be constructed to connect key areas throughout the marketplace, enhancing accessibility and walkability.  According to the Houston Business Journal, phase one of the project is expected to be completed by 2026, while phase two, which includes the development of multifamily, hotel and office space, is still in the planning stages.  Walkable District in Westchase  Click to expand Meanwhile, Johnson Development has unveiled plans to transform the former Halliburton campus in the Westchase District into Park Eight Place, a walkable, 70-acre mixed-use destination. The $1 billion project will feature a mix of residential, retail, hotel and office space with access to nature and recreational amenities in the adjacent 200-acre Arthur Storey Park.   Park Eight Place is set to become Houston’s first developer-initiated Walkable Place, a designation granted by the Houston City Council to promote pedestrian-friendly urban development. This designation allowed Johnson Development to secure additional land for the project. Construction on roads and utilities is scheduled to begin next year.  “This is a prime location that is just about 15 minutes from anywhere you want to go in Houston,” said Charles Lusk, General Manager of Park Eight Place, in a statement. “But within Park Eight Place, you will find everything you need and all within a five- to eight-minute walk from your door. Park Eight Place will emerge as a vibrant urban village where health, connection, sustainability and convenience converge.”  Learn more about living in Houston. 

People are moving to Texas, and businesses are building new facilities. That rapid growth is straining resources, particularly water. According to a new report, Texas must invest $154 billion over the next 50 years in new water supply and infrastructure—critical needs to support the state’s expanding population and booming industries. The report from Texas 2036, a nonpartisan public policy think tank, highlights the urgency of this investment. Without reliable water infrastructure, Texas could face the loss of a million jobs and more than $160 billion in economic impact over the next five decades. The report underscores a stark reality: a comprehensive, sustainable funding strategy for water is necessary to keep Texas economically resilient and competitive. Investment Needs The 2022 Texas Water Plan and US EPA initially estimated that Texas would need $132 billion in water infrastructure investments over the next 50 years. However, Texas 2036 has adjusted this figure for inflation, raising the projected cost to $154 billion. While state and federal programs—such as the State Water Implementation Fund for Texas (SWIFT) and the newly established Texas Water Fund—are expected to provide around $40-45 billion in financial support over the coming decades, a significant long-term funding gap persists.   Click to expand Texas 2036 graphic showing cost estimate for water infrastructure needs Dual Challenges According to the report, Texas faces two challenges. First, the state must develop a broad, diversified water supply portfolio to meet the demands of a rapidly growing population and economy while strengthening resilience to future droughts. The water supply gap poses additional risks to the state’s electricity generation, as low water levels during droughts could limit power from natural gas, nuclear and coal plants. Second, aging and deteriorating drinking water and wastewater systems. Over the past five years, nearly 3,000 boil water notices have been issued annually, leaving communities without reliable water service.  Impact on Industries A severe, prolonged drought would have widespread effects on industries across Texas. Manufacturing, a key driver of the state’s economy, is one example.  The top five manufacturing regions—Dallas-Fort Worth, the Greater Houston area, East Texas (Beaumont, Tyler, Lufkin), Central Texas (College Station, Temple, Waco), and South Central Texas (San Antonio, Victoria)—together account for 82% of the state’s manufacturing GDP and 77% of its manufacturing jobs. According to research from Rice University’s Baker Institute for Public Policy, within the next 20 years, these regions could face nearly $20.8 billion in lost manufacturing GDP and over 116,000 job losses due to water shortages during a drought of record. The potential economic fallout underscores the need for immediate and strategic investments in water infrastructure to safeguard key industries and the communities that rely on them. Advocacy at the Capitol  Water infrastructure is one of the executive priorities for the Greater Houston Partnership for the 89th Texas Legislative Session. These priorities serve as a roadmap for the upcoming session, highlighting key areas of interest for the business community. The Partnership supports increased funding for the Texas Water Fund, preferably establishing a dedicated funding stream to ensure long-term, sustainable investments in the state’s water resources.   Learn more about how the Partnership advances strong policy that fosters long-term growth and upward economic mobility for the region.