Real estate, QOL & employment growth questions (Houston, Dallas: cheap apartments, homes)

[sxrckr]

I enjoy browsing the Texas business journals.

I notice such articles as these in the Austin Business Journal often
http://austin.bizjournals.com/austin/stories/2010/02/22/story1.html?b=1266814800^2905851
"Downtown Austin building boom"
http://austin.bizjournals.com/austin/stories/2010/02/15/daily51.html
"Opportunity Austin, the Austin Chamber of Commerce’s five-year economic development initiative, played a role in attracting the company to Austin."

Does Houston's COC do as much benefit for the city? I just get the impression it does not. Except in the case of attracting oil & gas companies. Please correct me if I'm wrong. With such a huge medical center, why isn't Houston attracting more medical technology related startups and biotech companies? Like Boston and San Diego? Is it a QOL issue, or something else?

I also get the impression of a real estate and housing problem in Houston. By this, I mean the areas close in are two extremes. In "good" areas of the city limits, the real estate is unusually expensive by Houston standards, because it is limited due to Houston being so overrun with undesirable areas like villages of cheap apartments and bad schools. The latter greatly outnumbers the former. Correct me if I'm wrong on this as well. That is a large reason for Houston's sprawl problem for middle class families, companies leaving the city for offices parks in places like Woodlands and Sugarland, and Houston's perception of being not a nice place to live in the city. Is Houston doing anything to address this major QOL problem? Or will Houston always be lost to developers and individual rights of property owners (e.g. apt slumlords) over the common good and advancement of the city?

(let me say I'm not looking to bring out the naysayers and complainers. I want to hear real feedback from the natives and experts)

[AK123]

New partnership chairman vows to listen and act - Houston Chronicle

He addressed one of these items in the last question in the article. Didn't really give an answer though...

[hsw]

What valuable cos. (and recent start-ups) are in or recently generated in Bos or SD or Aus? Embarrassingly few...
Housing is costly anywhere w/a strong economy that creates new wealth...but doubt Cinco Ranch is more costly or less convenient to relevant jobs than middle-income, newer suburbs anywhere in US
Competition for major cos. is really btwn suburban Houston and suburban Dallas
Perhaps Dallas' Northern suburbs are a bit better organized and major airports more convenient to major offices of business travelers
But for any major co. (or start-up) TX has US' best income tax rates and pro-business ethos
Actually, many capitalists view Austin suspiciously....a slightly commie ethos...and a weak infrastructure of no useful airport and rivertown-choked fwy network for commutes from upscale western suburbs to RoundRock...the quintessential one-company town in Podunk
Cos. will work with politicians who understand what stuff actually matters to major cos. or start-ups....income tax rates are far more important than usual commie urban nonsense of tourist-friendly mass transit and walking
Consider that SiliconValley, which has more major tech cos. and start-ups than anywhere on planet, is all about car-centric suburban sprawl....and cos. like google and Apple prefer their suburban campuses; have own fancy cafes/gyms, etc for workers...and own shuttle buses to truck in poor yuppies from SF (and most engineers seem to choose to live in suburban SV, not commie SF)....why should taxpayer subsidize a wealthy co.'s employee amenities???

[modster]

Who is it that has this perception that Houston is not a nice place to live in the city? I guess that is why once run down areas like Heights, Washington area, Montrose, midtown & Garden Oaks, most all with bad schools at the time & some since, managed to blossom with tons of new people moving in and fixing things up. I guess that is why prices even in Eastwood and Idylwood can easily reach $150 per square foot for renovated homes. The perception you talk about is certainly with people with a suburban mindset, but clearly that is far from everyone.

[AK123]

Originally Posted by modster

Who is it that has this perception that Houston is not a nice place to live in the city?

Oh, you'd be surprised. People from all over the US and even elsewhere in TX. And it's not just the suburban set. Basically from what I can tell, the thinking is it is virtually impossible to avoid the "undesirable" (i.e. mini-cities of crummy apartments that bring down the schools; some industrial area; something negative that was a result of lack of zoning) unless one can spend upwards of $700k on a home. And that this is a problem in Houston more so than many other cities. Whether it's all perceived or has some truth. This is more of an issue for families with young children than for others though.

[modster]

Originally Posted by AK123

Oh, you'd be surprised. People from all over the US and even elsewhere in TX. And it's not just the suburban set. Basically from what I can tell, the thinking is it is virtually impossible to avoid the "undesirable" (i.e. mini-cities of crummy apartments that bring down the schools; some industrial area; something negative that was a result of lack of zoning) unless one can spend upwards of $700k on a home. And that this is a problem in Houston more so than many other cities. Whether it's all perceived or has some truth. This is more of an issue for families with young children than for others though.

Then why does it take $700,000 to live in the more desirable areas or $250 - $300k price of admission for 1,200 sq ft in the areas with bad schools? There are those who are not suburban types who will be negative about living in the city, but if they are not suburban people it isn't like they consider the suburbs preferable. They typically don't like Houston at all, often times because the city isn't urban enough. Go to the older northern cities, do you really think they don't have a gritty areas in town? No, the prices tell a different story that makes the premise that the city is generally less desirable than the suburbs is one that just doesn't make sense. You are looking at the world through your Sugarland lens.

[AK123]

Originally Posted by modster

Then why does it take $700,000 to live in the more desirable areas or $250 - $300k price of admission for 1,200 sq ft in the areas with bad schools? There are those who are not suburban types who will be negative about living in the city, but if they are not suburban people it isn't like they consider the suburbs preferable. They typically don't like Houston at all, often times because the city isn't urban enough. Go to the older northern cities, do you really think they don't have a gritty areas in town? No, the prices tell a different story that makes the premise that the city is generally less desirable than the suburbs is one that just doesn't make sense. You are looking at the world through your Sugarland lens.

I don't know, it wasn't me asking the original question or who first said that. And once again, I have not always lived in Sugar Land. One of our jobs is in Sugar Land. Prior to that I lived in the Houston city limits inside the Beltway, and in central Austin. Sometimes I think I need to just take "Sugar Land" off my profile so people will stop stereotyping me.
But I can say that in Austin, I'm pretty sure there are still places you can get a decent home for $300-400k that has good schools at all levels, not way out in the burbs. I don't know of many places like that in Houston, at least not inside the Beltway. So maybe he has a point, I don't know. Houston does seem to have a really high ratio of renters/apts to single-family homes, at least in many areas.

[EasilyAmused]

If Houston wasn't desirable, then appreciation and current prices would as high as they are in the central areas. Demand creates pricing. Demand creates gentrification. So far there's a heck of a lot of demand for being in Houston, and it's reviving old neighborhoods. I think that's wonderful.

[cheryjohns]

Originally Posted by sxrckr

Does Houston's COC do as much benefit for the city? I just get the impression it does not. Except in the case of attracting oil & gas companies. Please correct me if I'm wrong. With such a huge medical center, why isn't Houston attracting more medical technology related startups and biotech companies? Like Boston and San Diego? Is it a QOL issue, or something else?

Or will Houston always be lost to developers and individual rights of property owners (e.g. apt slumlords) over the common good and advancement of the city?

I agree on the COC comment. I do think we will get more medical tech startups in the future. I keep hearing about it.
As to Houston giving the advantage to developers over the common good - yes, the city government does. It seems up to the citizens to stop that. People have been amazingly successful when they band together here. I remember the Spring Shadows subdivision stopping a proposed land fill that looked unstoppable. Other subdivisions have won out over developers - they just have to do knowing they will probably get no help from their elected officials.

[sxrckr]

My question is only partially answered.

Is Houston's media just not good with getting the word out, or are other cities doing a better job of attracting companies that are not just oil/gas related?

http://austin.bizjournals.com/austin/stories/2010/02/22/daily42.html?surround=lfn
Yingli may set up in Austin

http://austin.bizjournals.com/austin/stories/2010/02/22/daily44.html
Facebook may open in Austin

http://dallas.bizjournals.com/dallas/stories/2010/02/22/daily38.html?surround=lfn
Natura World to North Texas

Reading the Houston section of the Business Journals, I'm seeing no similar articles and it has been this way for some time.

And no, from what I see most of in-town Houston does not have a good perception elsewhere in Texas as a place to live. From what I see and hear from others.