Houston continues to boom — and shows no sign of stopping.
In 2019 the Texas city boasted a population of 2.3 million, with a metro area of nearly 7 million. It also had the seventh-largest United States metro economy, with employment heavy in such industries as retail sales, office support, education, health care, and transportation.
Also revealing: building permits. In 2019, the City of Houston issued building permits for construction valued at $6.1 billion — an average of $11,587 per minute.
Development continues to grow in and around the city, led by such innovative companies as JM5K Holdings, one of the biggest real estate companies in the Houston area, and its CEO and founder Jerome Karam.
“The Mission of JMK5 Holdings, LLC is community restoration,” says Karam. “We relish the challenge of developing, revitalizing, and giving new life to a building once deemed beyond repair.”
Here’s a closer look at some of the big development projects going on right now in the Houston area, including work by JMK5 Holdings.
Galveston Bay Club
Just under an hour from Houston is the popular island city of Gavelston. JMK5 is currently developing a section of beautiful property on Gavelston’s West End, with 18 lots for new homes facing the serene Eckert Bayou, a fishing haven replete with red drum, black drum, and spotted seatrout. The area was one of Karam’s early purchases in 2014.
An attractive commercial stretch on Walker Street in League City, Texas, just 28 miles of Houston, this new development will host a wide range of businesses in a busy area, perfect for companies looking to expand.
Lynn Wyatt Square for the Performing Arts
Renovations are expected to wrap in the summer of 2021 in the former Jones Plaza in Houston’s downtown Theater District. The $29 million project includes a performance space for concerts, lush trees and gardens, a street theater, restaurant, and a water feature.
Bagby Street Improvement Project
This $28.8 million renovation in downtown Houston’s west side headed by company Jones Carter will give the city’s major thoroughfare near Interstate 45 an entirely new feel. The area is popular with pedestrians and visitors, housing Sam Houston Park, Tranquility Park, the Hobby City, and Houston City Hall.
World Gym Houston
Purchased by Karam in 2018, the iconic former Coosaboom Family YMCA is being repurposed as both a massive 45,000 square foot self-storage community that doubles as World Gym Houston, the area’s only five-story fitness center.
Bayou Bend Estates
Another JMK5 project, Bayou Bend Estates, is a residential development in Dickinson, Texas, part of the Houston metro area. The calm waterfront resort area includes 47 lots ranging inside up to 1 acre, with prices starting at $399,000.
Post-Houston — Phase 1
Now under construction downtown by the developer Lovett, this 67,000 square foot redevelopment of the Barbara Jordan Post Office has a lot planned, including a farm, park, office, and retail space and spots for co-working.
JMK5 is developing this 100-room boutique hotel in the former Falstaff Brewery in Galveston. In addition to the hotel, there will also be four stories of indoor climate-controlled storage and a rooftop space that will host weddings and private events. Falstaff Brewery was once America’s third-largest brewery. It closed in 1981.
Also, in Galveston, JMK5 is working on the city’s latest stretch of 40 affordable waterfront lots set among beautiful coastal scenery and wildlife under crystal skies. Prices start at $299,000.
Developer Hines is changing the skyline of Houston with this 47-story, 1 million square foot office tower in downtown. It will also boast an 11-level garage for 1,500 parking spaces and is scheduled for completion toward the end of 2021.
A special residential project by JMK5, a Hunter’s Creek 9,000 square foot manor on the Buffalo Bayou, is being renovated as a contemporary French masterpiece.
Amazon E-Commerce Warehouse
Within the Houston metro and about 36 miles from downtown, Richmond, Texas, will be home to Amazon’s third facility in the Houston region — an 850,000 square foot fulfillment center that’s bringing 1,000 jobs to the area. It’s the size of fifteen football fields.
The organization’s new foundation headquarters in the Washington Corridor overlooks Spotts Park, a $20 million, 40,000 square foot office designed by Mexico City’s Productora and Kevin Daly Architects based in Los Angeles. It’s set to open in May 2022.
Retreat at Bunker Hill
One of many new Houston residential development projects close to I-10, this gated community features well-appointed homes with wood floors, stainless steel appliances, and marble vanities. It’s perfect for families, near many shops and restaurants, and developed by David Weekley Homes.
Right Move Storage Alvin
Alvin, a southwest Houston suburb, is getting an upgrade with this JMK5 project, bringing much-needed storage space to the town in the old Alvin Hospital building.