East Downtown (EaDo) Promenade & Houston Dynamo Stadium (Katy, Bastrop: real estate, 2013)

[modster]

Originally Posted by TheEconomist

The point is that an area has to be self-sustaining. The developers of course see this as an opportunity to make money. If the city spends billions and the developers make millions, then the net result is major inefficiency. But, the developers will support this type of economic "development."

Here, the developers are merely working at capturing a government subsidy and not truly partaking in a risk-taking venture. The subsidy is the billion dollar stadium built in the backyard of previously less desirable lots.

However, subsidy capturing "businessmen" generally create poor products. They will not do the necessary planning to ensure that this area is a good place to live. They will simply sell as much buildings (commercial and residential) as they can while the place is hot and then they will leave. When the place is no longer trendy, the structural defects will become apparent and property values will depress and the area will see no additional development. The people who wanted to see the area grow and who bought homes or businesses there will be left dissapointed. Dissapointment is the result virtually every time there is a well meaning government policy.

Five years from now, we will be debating why the soccer stadium failed to spur development. Everyone will have some idea like, "they needed bigger townhome lots", "the streets were too small," there wasn't a grocery store nearby," the "individual builder of the townhomes used inferior products," etc., etc. However, what people will likely not understand is that the poor quality and poor planning will have resulted from the subsidy. Without the subsidy, the developers would have been forced to build quality products or they would fail, as it should be.

Correct me if I am wrong, but I interpret what you are saying as much of the growth will be related to the government subsidy (in the form of the stadium). But I thought you also thought the stadium wouldn't spur a lot of growth. Am I misunderstanding?

[TheEconomist]

Originally Posted by modster

Correct me if I am wrong, but I interpret what you are saying as much of the growth will be related to the government subsidy (in the form of the stadium). But I thought you also thought the stadium wouldn't spur a lot of growth. Am I misunderstanding?

The stadium financing / cash from the city is the subsidy. It is not growth. For the stadium to be growth, it must be built without a subsidy.

[testmo]

I almost can't believe it...

[Texasboy123]

Hey who knew that by turning an ugly parking lot into a beautiful park could spur growth?! It did right lol I think that it will help make that side a better place! Once they complete that bayou plan thing the east side should even better!!!


I like it how here in Houston they tear things down but they are starting to remodel things as well much like a European city!!! But a lot bigger and that still is not affraid to blow an old building up inorder to build a new one!

[DANNYY]

Dynamo Development is Downtown Development (http://www.myfoxhouston.com/dpp/news/local/110124-dynamo-development-is-downtown-development - broken link)

The mention the Promenade in the last few seconds of the video.

[DANNYY]

Also some updates on Shenzen Garden:

But when Jim Olive and Ellen Goldberg cast their gaze on the six blocks along Bastrop Street from Bell to Walker, a different image comes to life. It is a picture of international cooperation and eco-friendly verdure, of culture-hungry children, fun-loving families and broad-minded soccer fans. They see, in short, a slice of paradise.
Olive is the vice president of the Houston-Shenzen Sister City Association, and Goldberg is the president of Sister Cities of Houston


Read more: Discovery Green Take Two? | Houston Business Journal

On behalf of Houston, I would like to thank our Sister City: Shenzen, China for the potentially forward progressing state of the park.

[Redlionjr]

so is the stadium already being built??

[300zxtwinturbo]

Originally Posted by Redlionjr

so is the stadium already being built??

I know right, thats what im concerned the most about, because my school will be playing football games there.

[DANNYY]

Originally Posted by Redlionjr

so is the stadium already being built??

Yeah groundbreaking ceremony is in 4 days from now.

[Spade]

I've seen the renderings. Very impressive. Love the exterior. But please. Rename the district. Do not call it EaDo.