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Old 09-07-2017, 08:02 AM
 
Location: Austin, TX
11,607 posts, read 10,281,121 times
Reputation: 6767

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Quote:
Originally Posted by cBach View Post
Mainstay Suites Hackberry will open September 15, 2017. Exciting news for Hackberry, their first hotel!

https://www.choicehotels.com/louisia...y-hotels/la346
Opening pushed out to October 31, 2017, I assume because of Harvey.
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Old 09-07-2017, 01:42 PM
 
345 posts, read 288,424 times
Reputation: 540
Is this where we post about new restaurants opening in the Lake Charles area too?

Does anyone know of any unique restaurants being built here in Lake Charles now?
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Old 09-09-2017, 11:51 AM
 
3,219 posts, read 8,163,921 times
Reputation: 1422
If Lake Charles could just build up that eyesore along I 10 east of downtown.
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Old 09-09-2017, 02:38 PM
 
Location: Austin, TX
11,607 posts, read 10,281,121 times
Reputation: 6767
Quote:
Originally Posted by imaterry78259 View Post
If Lake Charles could just build up that eyesore along I 10 east of downtown.
The problem is that they need to tear down the old Harrah's parking garage. Then they need to build a high end Marriott or Hilton right on the lake. They would probably be sold out most of the time with that view.
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Old 09-10-2017, 09:27 PM
 
Location: HTX
68 posts, read 80,986 times
Reputation: 67
Anyone have any educated guesses on future real estate prices?

From what I am seeing, about half of these proposed projects will actually go into service.

(The biggest being the gas to liquids won't happen with oil at 50$)
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Old 09-11-2017, 07:32 AM
 
345 posts, read 288,424 times
Reputation: 540
Quote:
Originally Posted by Gray Rider View Post
Anyone have any educated guesses on future real estate prices?

From what I am seeing, about half of these proposed projects will actually go into service.

(The biggest being the gas to liquids won't happen with oil at 50$)
OPINION OF INDUSTRIAL MARKETPLACE IN SWLA:
In our Lake Charles market, it's not GTL (diesel, oil) but rather ethylene & styrene production from NG (natural gas). Note, they consume NG.

Sasol & Axial are both rushing forward with their respective facilities in Sulphur, LA to get these raw plastic chemical production units online. Traffic lines are long across Southwest Louisiana s

NG is dirt cheap and there is an abundant supply here in Southwest LA. We have so much natural gas in storage now that Cheniere LNG has single handedly turned our country into a major exporter of LNG.

Numerous other LNG companies are trying to capture marketshare from Cheinere now by constructing their own LNG export facilities across SWLA. The construction of each of these LNG facilities is considered a mega-project due to the labor involved in creating the foundation, steel framing and piping involved. Pipeline operators are working overtime to bring the needed capacity simultaneously.

Note, not all of these LNG projects can start at one time. Especially given the labor shortages from Sasol & Axial constructing concurrently here in SWLA.

Here is a list of websites for each viable ongoing or upcoming LNG construction project in SWLA, focus on their timelines:
Magnolia LNG
Venture Global
Lake Charles LNG
Cameron LNG

EFFECTS ON REAL ESTATE IN SWLA:
Right now, we are experiencing a temporary worker boom that has never been seen in this region of SWLA. Now is the time to make huge profits ($450 apartment is now $950+) as a landlord. 1980's refurbished trailers in a run down, high crime trailer park are pulling in $850 a month! You can sell your vacant property in Sulphur or Lake Charles city limits (that you bought for $3000) for at least $25,000 if it has title insurance and utilities.

However, if you meet and talk with these workers they will reveal that they are living in apartments, trailers and hotels until their portion of a particular mega project is done. Many have told me they are only here for a few months at maximum and then they are moving on to other jobs. I often ask them if they want to stay and buy a nice middle class home and they all flatly say NO. Their reasons are simple, they want to go back to their own homes where their families are across America.

Once the major construction project boom slows down (in 3-4 years now), we will see a rapid decline in temporary workers. Once these new LNG facilities are complete, they will require approximately 5% or less of the labor force needed to construct them. All the equipment is automated now with these brand new facilities. That component (the 5% labor force) will likely buy middle class homes but that's a small group of buyers.

LONG-TERM OUTLOOK:

We are going to face a huge problem with abandoned trailers and rent homes across SWLA. Due to our environmental conditions (heat, humidity and tropical storms), remaining exposed in a declined rental market in 3-4 years will be a costly endeavor for the real estate investor. Each of these residences are going to need lawn maintenance, air conditioning (a must to keep out black mold) and termite/pest control.

I predict the housing market will collapse quickly in 2021 or a few years later. The delay in the housing collapse will likely be caused by landlords refinancing their properties in 2020 which will cause a full year before pressure to foreclosure can begin. Yes, people will still buy homes but they will want middle class homes not old 850 sqft 2 bedroom homes.

I see little potential for housing demand as seen right now in SWLA to happen again in at least 20 years.
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Old 09-11-2017, 07:42 AM
 
345 posts, read 288,424 times
Reputation: 540
FUTURE PREDICTIONS FOR SWLA IN 3-4 YEARS:
Texas already went through an oil boom and bust recently with the fracking drilling cycle. The temporary workers in Texas (many of whom are now in Sulphur / Lake Charles) abandoned their RV's and land to go to other jobs around the country.
Abandoned RV's Causing Headaches for Sheriff's Office - KWES NewsWest 9 / Midland, Odessa, Big Spring, TX: newswest9.com |

We are having these issues already in rural areas of Calcasieu Parish. Workers bought land and moved in old mobile homes then left. The difference is that its on a small scale (working on 4 such properties right now) and it will only increase as time and construction jobs disappear.
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Old 09-11-2017, 11:57 AM
 
Location: HTX
68 posts, read 80,986 times
Reputation: 67
I agree. There is a large amount of field crews that will leave, I'm sure some of them bought 3 and 4 BR homes, judging by the amount of new neighborhoods.

It's possible to see a situation similar to the air base closing years ago. The banks were giving away homes.
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Old 09-13-2017, 10:04 AM
 
Location: Austin, TX
11,607 posts, read 10,281,121 times
Reputation: 6767
Quote:
Originally Posted by rgathrights View Post
OPINION OF INDUSTRIAL MARKETPLACE IN SWLA:
In our Lake Charles market, it's not GTL (diesel, oil) but rather ethylene & styrene production from NG (natural gas). Note, they consume NG.

Sasol & Axial are both rushing forward with their respective facilities in Sulphur, LA to get these raw plastic chemical production units online. Traffic lines are long across Southwest Louisiana s

NG is dirt cheap and there is an abundant supply here in Southwest LA. We have so much natural gas in storage now that Cheniere LNG has single handedly turned our country into a major exporter of LNG.

Numerous other LNG companies are trying to capture marketshare from Cheinere now by constructing their own LNG export facilities across SWLA. The construction of each of these LNG facilities is considered a mega-project due to the labor involved in creating the foundation, steel framing and piping involved. Pipeline operators are working overtime to bring the needed capacity simultaneously.

Note, not all of these LNG projects can start at one time. Especially given the labor shortages from Sasol & Axial constructing concurrently here in SWLA.

Here is a list of websites for each viable ongoing or upcoming LNG construction project in SWLA, focus on their timelines:
Magnolia LNG
Venture Global
Lake Charles LNG
Cameron LNG

EFFECTS ON REAL ESTATE IN SWLA:
Right now, we are experiencing a temporary worker boom that has never been seen in this region of SWLA. Now is the time to make huge profits ($450 apartment is now $950+) as a landlord. 1980's refurbished trailers in a run down, high crime trailer park are pulling in $850 a month! You can sell your vacant property in Sulphur or Lake Charles city limits (that you bought for $3000) for at least $25,000 if it has title insurance and utilities.

However, if you meet and talk with these workers they will reveal that they are living in apartments, trailers and hotels until their portion of a particular mega project is done. Many have told me they are only here for a few months at maximum and then they are moving on to other jobs. I often ask them if they want to stay and buy a nice middle class home and they all flatly say NO. Their reasons are simple, they want to go back to their own homes where their families are across America.

Once the major construction project boom slows down (in 3-4 years now), we will see a rapid decline in temporary workers. Once these new LNG facilities are complete, they will require approximately 5% or less of the labor force needed to construct them. All the equipment is automated now with these brand new facilities. That component (the 5% labor force) will likely buy middle class homes but that's a small group of buyers.

LONG-TERM OUTLOOK:

We are going to face a huge problem with abandoned trailers and rent homes across SWLA. Due to our environmental conditions (heat, humidity and tropical storms), remaining exposed in a declined rental market in 3-4 years will be a costly endeavor for the real estate investor. Each of these residences are going to need lawn maintenance, air conditioning (a must to keep out black mold) and termite/pest control.

I predict the housing market will collapse quickly in 2021 or a few years later. The delay in the housing collapse will likely be caused by landlords refinancing their properties in 2020 which will cause a full year before pressure to foreclosure can begin. Yes, people will still buy homes but they will want middle class homes not old 850 sqft 2 bedroom homes.

I see little potential for housing demand as seen right now in SWLA to happen again in at least 20 years.
I don't necessarily agree with this assessment.

First, there have been delays with Cameron LNG and Sasol. It's delayed the timelines by several years.

There will be a decline but it is several years out. I predict 2022-2025.

The wet soil conditions, humid weather, and tropical storms have foiled the optimistic plans of the construction companies.

There is also an ongoing hotel boom and that will probably level off in 3-5 years.
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Old 10-15-2017, 08:05 PM
 
Location: Austin, TX
11,607 posts, read 10,281,121 times
Reputation: 6767
Good to see a nice new hotel in Hackberry. For all the money that is being spent in Cameron Parish, in the billions, the Parish really hasn't received much, as the land was given away tax free to the LNG companies.

However, a nice hotel will be good in the long run. Tourists can now venture down there and it's a good hurricane escape hotel for Holly Beach and Cameron residents:

Hackberry hotel now open | Business | americanpress.com
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