Houston -- the town that once prided itself on knocking down the old to build the new -- is returning to traditional real estate values.
"Real estate development in the fourth largest city in the United States has gone back to the basics the three "Rs" of renovation, redevelopment and refurbishment. Entrepreneurs in the metropolis known around the world for its sleek skyline dotted with futuristic buildings, such as the trapezoid-shaped Pennzoil Place and the cathedral-like Bank of America Center, have discovered that new is not necessarily better.Instead, in a place that prided itself for knocking down the old to make way for the new, real estate developers and builders have opted for the old. Renovation, redevelopment and refurbishment have become a major driving force."
Thanks to ULI Digest
FULL STORY: Space City returns to the ‘3Rs’ of real estate
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