REDnews October 2024 Issue

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Building Texas: Multifamily developers tackle urban shifts Founded 21 years ago as an engineering firm, CIVE has evolved into a powerhouse in design, construction and procurement, particularly in the multifamily sector.

‘Exciting potential’: Renovation takes center stage in some of Texas’ most iconic towers HOK, a global design, architecture and engineering firm, has left its mark on some of Texas’ most renowned skyscrapers, including Houston’s JPMorgan Chase Tower and Dallas’ Trammell Crow Center. As the real estate landscape shifts due to economic and environmental factors, these projects exemplify the growing trend of renovating existing properties.

Resilience in Real Estate: Helping Commercial Property Owners Stand Up for Themselves As inflation costs increase and rising property values lead to higher taxes, today’s commercial property owners and management companies have to make every dollar count.

Rx for Flagging or Failing Multifamily Properties: Disciplined Property Management Distress is rising fast in today’s multifamily market, and owners and operators face challenges not seen in years.

Texas EDCs: Fueling growth across the Lone Star State Texas has long been a beacon for business, leading the nation in population growth for the past 18 years and consistently ranking as a top state for job creation.

NATIONAL ENVIRONMENTAL SERVICES

Houston, Texas • Redlands, California

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Building Texas: Multifamily developers tackle urban shifts

In December 2023, the City of Houston made a notable declaration, officially naming Dec.19 “CIVE Day” in recognition of CIVE’s contributions to the city’s growth and development. Founded 21 years ago as an engineering firm, CIVE has evolved into a powerhouse in design, construction and procurement, particularly in the multifamily sector.

“The growth in the population created strong demand for housing close to

jobs, transportation, and cultural amenities,” President Hachem Domloj said, adding that he sees his honor not just as a celebration of CIVE’s accomplishments, but also as a testament to the rapid changes in Houston’s urban landscape. “Now, people want to be closer to the city and that has driven a boom in high-density, transit-oriented developments.”

CIVE has been at the forefront of this shift, blending engineering prowess

Photo courtesy of CIVE

with creative solutions to meet the growing demand for affordable housing.

“We're working on multiple projects right now, with more than 1,000 units in design or build stages,” he said. “A standout is our project near the Galleria, where we fit an eight-story building with 180 units onto a 30,000-square-foot plot.”

Over the past decade, Houston has seen an increasing number of mid-rise and high-density developments. Domloj attributed this to the city’s expanding population and the need for housing that offers more than just a place to live.

Creating multifamily developments that cater to changing consumer demands is a priority for CIVE and Ryan Companies, where mixed-use developments that blend residential, retail and office spaces are a growing focus.

“Thoughtful integration of each asset class is essential in any mixed-use development,” said Marcy Phillips, Senior Vice President for Multifamily Development at Ryan Companies. “This begins with considering how a

person first engages with the community and continues through to the resident’s overall live-work-play experience.”

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Photo courtesy of CIVE

Domloj highlighted a similar approach in CIVE’s projects, particularly in student housing. One of the company’s key developments is a transitoriented, affordable housing project specifically designed for students.

“It’s not like typical student housing where tenants share kitchens or other amenities,” Domloj said. “These are individual studio units, located near the Metro rail line, providing students with easy access to public transportation. We modeled this project differently to value engineer, optimize the budget and make it affordable for the end user, while ensuring accessibility and sustainability.”

Both CIVE and Ryan Companies have embraced innovation to navigate the complexities of today’s multifamily landscape. For Domloj, the key to CIVE’s success has been adaptability.

“We started a division for procurement, which became its own company,” he said. “This allows us to procure materials in ways that give us an edge over competitors, especially when faced with high interest rates and material shortages.”

Phillips echoed this emphasis on innovation, highlighting Ryan Companies’ focus on technology and strategic planning.

“We are maintaining control of key land assets and ensuring that design plans are aligned to start when the capital markets and interest rates stabilize,” she said. “Additionally, we are investing in innovative technologies, including artificial intelligence, market analytics and new prototypes, which will allow us to deliver products to market more efficiently.”

Ryan Companies is also preparing to deliver more than 1,100 units in Texas by 2025, with major projects underway in Houston, Austin and Dallas-Fort Worth.

For both Phillips and Domloj, multifamily development is about more than profitability. It’s about contributing to the communities they serve. Domloj stressed that developers have a responsibility to think long-term.

“Houston is at a pivotal moment in urban development,” he said. “We need

Photo Courtesy of Ryan Companies.
Photo Courtesy of Ryan Companies.
Photo Courtesy of Ryan Companies.

to think beyond just short-term gains and focus on the sustainability of the communities we’re building.”

Phillips agreed, emphasizing that creating vibrant, sustainable communities is crucial.

“Renters will continue to demand best-in-class features, amenities and overall resident experiences,” she said.

As these challenges reshape the landscape, developers across Texas are adjusting their strategies to meet shifting market conditions while keeping a long-term view in mind.

“Recent years have seen extreme fluctuations due to the pandemic, with record lows and highs in areas such as interest rates, capitalization rates, and supply and demand fundamentals,” Phillips said, adding that recordhigh multifamily supply presents its own set of challenges for developers. “Design, entitlements, permitting, labor force availability, construction delays and rental price reductions, as well as increased concessions and a sluggish buy/sell market are affecting the industry.”

Both leaders believe that market recovery is on the horizon.

“The growth fundamentals in Dallas-Fort Worth are particularly strong, positioning the area well for both immediate and long-term multifamily development,” Phillips said. “While short-term economic pressures exist, we expect them to ease with falling interest rates and cap rate compression. With a typical pre-development timeline of two years, we believe that market conditions will have improved by the time new projects are delivered.”

2024 Austin summit INDUSTRIAL Thank You to Our Sponsors!

Hachem Domloj Marcy Phillips

‘Exciting potential’: Renovation takes center stage in some of Texas’ most iconic towers

HOK, a global design, architecture and engineering firm, has left its mark on some of Texas’ most renowned skyscrapers, including Houston’s JPMorgan Chase Tower and Dallas’ Trammell Crow Center. As the real estate landscape shifts due to economic and environmental factors, these projects exemplify the growing trend of renovating existing properties.

“Here in Austin, for example, there was such an incredible boom and so many office buildings built,” said George Blume, HOK’s Austin/Dallas design principal. “But as a result of COVID, it’s been really challenging to get occupancy in those buildings.”

This abundance of available space is steering the industry towards renovation rather than new construction. Blume believes that the focus has shifted from creating new amenities to infusing existing spaces with a modern, attractive feel.

“You’re not going to see a lot of new office buildings any time soon,” he noted. “We all have to now work with the supply that we have.”

The pivot toward renovation is not just a matter of necessity; it also makes financial and environmental sense. Blume emphasized the importance of leveraging existing structures rather than building anew.

JPMorgan Chase Tower. Photo by Michael Robinson.
“Since there’s not an appetite for new construction right now, it’s very much a tenant’s market. Tenants have a lot of power and a lot of choice. There’s great value in retrofitting an existing property. That’s a great story for sustainability.”

“Building construction is quite a draw on the resources that we have, but we have so much building stock in this entire world, it would behoove us to work with what we have as much as possible,” Blume said, noting that this approach not only saves on construction costs but also appeals to tenants. “Since there’s not an appetite for new construction right now, it’s very much a tenant’s market. Tenants have a lot of power and a lot of choice. There’s great value in retrofitting an existing property. That’s a great story for sustainability.”

The financial advantages of renovation are clear, but Blume also highlighted the ongoing “arms race” to attract top talent. Companies are constantly seeking to make their office environments more inviting.

“It’s really appealing to every generation of talent, making them feel like this is a really inviting, fun place to work,” Blume said. “You can only do that so much with your actual tenant interior. The tenants

Trammell Crow Center. Photo by Michael Robinson.

are going to want those properties to have as much of a similar value as possible.”

When it comes to revamping iconic properties like the JPMorgan Chase Tower and Trammell Crow Center, there’s an added challenge: modernizing without losing the essence of the building’s original architecture.

“JPMorgan Chase is a classic tower. It’s currently the tallest building in Texas. It’s by I.M. Pei, and it is a gem of architectural history,” Blume explained. “On paper, you wouldn’t need to do anything with that project to attract tenants. But over the last ten years, there were plenty of incredible Class-A towers built.”

Trammell Crow Center. Photo by Michael Robinson.

HOK’s approach to this project was to modernize without losing its historical significance.

“Kudos to Hines for being brilliant and thinking about how it could transform that project,” Blume said. “Our team at HOK took something that was already a legendary icon and made it even better without losing that legendary quality from the past.”

The same attention to detail was applied to Trammell Crow Center in Dallas. Blume praised the team’s work in transforming the property while maintaining its ’80s-era charm. He also credited Stream with finding great ways to convert retail space.”

“It's actually right by our office. I go there all the time because there are so many great restaurants and markets on the ground level,” Blume said. “It's always hopping.”

He said he sees this blend of history and modernization as a critical part of making these iconic buildings viable for today’s tenants.

“That’s one of the most important things about these rehabs and repositioning these classic buildings, especially in older downtowns like Houston and Dallas,” said Blume. “We want to get that active, exciting potential on the ground level that you need to have in a modern project.”

As styles and trends change rapidly, Blume stressed the importance of flexibility in both design and materials. For Blume and HOK, the key to successful renovation lies in being nimble and thoughtful about material conservation while modernizing interior spaces.

“Styles and trends are very fleeting in the interiors world,” Blume noted. “We need to be thoughtful about how we conserve as much materials as possible from a sustainability perspective.”

Blume sees renovation as a path forward, not just for environmental reasons but also for ensuring the long-term viability of Texas’ commercial real estate.

“There’s value in the dollar. There’s a value in how it taxes the planet,” he said. “That idea of value will benefit everyone.”

Trammell Crow Center. Photo by Michael Robinson.

Resilience in Real Estate: Helping Commercial Property Owners Stand Up for Themselves

As inflation costs increase and rising property values lead to higher taxes, today’s commercial property owners and management companies have to make every dollar count. Fighting back against unfair property values is a crucial piece of the puzzle — but knowing who to trust with the work, and how best to protect your interests, isn’t easy.

Large property tax firms are acquiring smaller operations more and more frequently, often resulting in rate hikes and shifts in business that do more harm than good. For property owners or management companies whose longtime firms do change hands, it’s important to look out for key warning signs that could spell financial trouble down the line. Let’s take a look at why these acquisitions are happening and ways you can protect yourself and your investment.

The Shift Toward Fewer, More Corporate Property Tax Firms

This trend of smaller, locally owned firms selling to big corporations began in the late 2000s. As property values increased and property taxes followed, corporations saw the chance to grow their market share. Later, as mom-andpop property tax firms felt financial pressures from the COVID-19 pandemic, buyouts gained momentum.

Consolidations have become common throughout the U.S., but certain regions feel the effects more than others. Here in Texas, where there is no state income tax, property taxes are a substantial source of revenue for local governments — and a prime opportunity for property tax firms seeking to expand. Meanwhile, states with elevated property values, such as New York

and California, often have high tax rates that drive demand for protest services. This makes them attractive to large firms looking to grow their business by eliminating the competition.

Red Flags to Watch for Following a Merger

What happens if the property tax firm you’ve trusted for years suddenly switches hands? Property owners who’ve experienced this frequently mention rate increases and unhappy shifts in business models. And whether change comes immediately or years down the line, even subtle shifts can impact business in big ways. Here are some warning signs to watch for following an acquisition.

• Loss of Local Expertise: The most effective property tax protest firms understand local laws and markets while maintaining established relationships with county tax authorities. Shifts to more corporate, centralized operations often lose that specialized knowledge, potentially impacting your protest outcomes in negative ways.

• Diminishing Service Quality: Turnover often increases following a purchase, potentially pairing property owners with less experienced

Hunter Lane
Image by Steve Buissinne from Pixabay

account managers who may not fully understand local nuances. In addition, when cost-cutting measures reduce staffing, you might experience lower response rates and poorer protest outcomes as overburdened employees take on too much work.

• Contractual or Fee Changes: It’s important to carefully review service agreements following a purchase. Watch for modifications that reduce accountability, increase fees or lock you into long-term contracts that could impact budgets.

Swaying the Odds in Your Favor Appealing high commercial property taxes can save your business thousands each year, but protests must be approached the right way. If you don’t feel your appeal is receiving adequate attention or expertise, it’s important to stick up for yourself. Here are some tips to help keep appeals on track.

• Be OK with Being the Squeaky Wheel: Has your firm failed to alert you to upcoming deadlines? Is it unclear where your protest stands? Have recent bills featured unknown charges? Bring concerns to your firm’s attention. A trustworthy company should be willing to discuss your issues and make things right where situations call for it.

• Familiarize Yourself with the Protest Process: Understanding a protest’s steps, deadlines and what’s required to prove a case can help you

pinpoint instances where a firm’s service is lacking. If something doesn’t seem right, or if you have questions, speak up.

• Don’t Be Afraid to Look Elsewhere: Switching firms can be intimidating, but with so much riding on your protest’s outcome, it’s often worth it. Here are some factors to consider during your search.

o Are They Local? A firm rooted in your home state will understand the laws and market conditions behind your property taxes, the inner workings of your county appraisal district (CAD) and the best way to approach your case.

o Where Do They Do Business? If you have properties spanning multiple cities or states, you’ll want a firm that can serve on all fronts. My firm, for instance, is located in Houston but protests throughout Texas and into Colorado, Arizona and beyond.

o Do They Have Staying Power? Seek a firm that’s established, maintains a proven track record and has a solid reputation. Do a deep dive into their website and online reviews, and consider asking for references.

It isn’t easy when the company you’ve always trusted to protest your unfair property tax protests changes hands, but it isn’t the end of the world. By staying vigilant and strategic — and being willing to stand up for yourself — you can keep appeals on track and protect your business from unnecessary financial strain.

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Collin County

2024 Texas summit

Rx for Flagging or Failing Multifamily Properties: Disciplined Property Management

Distress is rising fast in today’s multifamily market, and owners and operators face challenges not seen in years. The national distress rate for multifamily properties, which includes delinquent and/or specially serviced loans, stood at 8.4% in July, more than triple the 2.6% rate reported in January, according to CREDiQ, which tracks all commercial real estate loans securitized with CMBS financing. The multifamily sector is now the third most-stressed real estate asset class, following office (12.2%) and retail (11.8%) and surpassing hotels (7.8%) last month.

There are several reasons for this sharp rise in multifamily distress, including maturing construction financing from the zero-interest rate period forcing landlords to refinance into much higher rates, if they can refinance at all. Surging operating costs such as insurance premiums and overbuilding in some markets are also taking their toll.

But my company, Lynd, firmly believes that downturns are where fortunes are won (and lost), and there is an abundance of opportunity in the current cycle. That’s why it’s important to choose a multifamily property manager that knows how to navigate these cyclical challenges. Here is our playbook for turning around distressed multifamily properties.

Step One: Diagnosing the Problem

The first step to turning around a troubled asset is conducting a thorough and objective assessment of the property. As with a real estate acquisition, our due diligence includes researching the property’s location, expenses and revenues, physical condition, position in the market compared to its competitors and overall operating performance.

A property must be viable for us to take it on for property management, something that’s not always easy to distinguish for inexperienced managers. We’ve seen Class A+ multifamily properties fail because of mismanagement, and Class B and C properties that were run well but were undercapitalized and needed value-add renovations to be competitive in their market. We have the experience to identify issues and the resources to assess quickly, formulate and execute the strategy to lead to great results.

Step Two: Prescribing an Operational Overhaul

Multifamily property management encompasses a lot, including marketing, resident acquisition and retention, rent collection, maintenance, financial management and more. We look at all of these factors to prioritize what needs to be done to improve the asset. The Need for Good Data

In our approach, data is crucial in ensuring good operations, and we set up and implement systems to capture crucial data throughout the operation. Before returning to Lynd in my current role, I worked in Mexico at what was effectively a private equity startup in the multifamily space. We emphasized openness and collaboration across our portfolio in our operations, with a focus on collecting and harvesting data and sharing it across company divisions, an approach I’m bringing to Lynd. It ensures alignment on budgets and de-risks the entire platform, as well as better informs the opportunities we pursue and those we let die on the vine.

With regards to data, there are some key factors “under the hood” that we prioritize. One is controlling expenses, especially payroll, insurance and contract services. These make up the bulk of operating management expenses at any site and can largely be controlled. For example, often we can cut contract services by 20% without impacting resident services.

Retaining and Attracting Residents

Resident acquisition and retention are also crucial. We talk to residents and get their sentiment. Why did they choose to live there? What were their expectations and what has been their experience? What needs to be improved?

Especially at a distressed property, retaining existing residents is as crucial as attracting new ones. Enhancing customer service and responsiveness to maintenance requests can significantly improve tenant satisfaction. We regularly reassess lease terms to ensure they remain fair and competitive, which might involve renegotiation to better meet residents’ needs while still aligning with property goals.

Offering move-in incentives or flexible leasing options can also be effective, particularly when combined with targeted marketing efforts aimed at the specific demographics you wish to attract.

Creating a sense of community is key to resident retention. We foster connections among residents through organized events or communal

Josué Garza

spaces, which can enhance their overall living experience and reduce turnover. By focusing on both the satisfaction of current tenants and the attraction of new ones, you can create a vibrant, thriving property that stands out in the market and ensures long-term success.

Always with residents, it is crucial to be personable and congenial; it’s part of their experience. Which brings me to a broader point, which is the importance of the human element in effective property management on a distressed asset.

Property Management Is a People Business

That includes staff. Front-line staff are the backbone and heart and soul of a successful multifamily property. Property management is not easy. You’re satisfying an essential need for the renter, and it’s important to have employees who genuinely care, have opportunities for development and are appreciated. What a fulfilled employee will do is exponentially more productive than what a disgruntled employee will do, and they are crucial to a positive tenant experience in all types of properties.

Get the Financial House in Order

In today’s volatile market, it’s also crucial to reassess the financial setup of your properties to ensure long-term stability. We start by evaluating existing debt structures and opportunities for refinancing. Adjusting these financial levers can create a more resilient portfolio.

Through strategic financial restructuring—whether it’s optimizing debt terms or securing advantageous refinancing—you can create the financial stability necessary to weather current challenges and set the stage for recovery. This proactive approach not only safeguards your assets but also positions your property for sustainable growth in the years to come.

Step Three: Undergoing Physical Therapy

Some multifamily properties will require capital improvements – from lobby or other common space renovations to unit upgrades – to be competitive in any market. To draw in new residents, we might upgrade amenities, such as adding modern fitness centers or co-working spaces, which can distinguish a property from its competitors. But whether you’re a homeowner or the property manager of a 500-unit building, a key question is how to prioritize capital expenditures that add value to your property without overextending it financially. The trick is to make sure you spend enough but not too much to get payback over a reasonable time. To do this, we identify the value-add upgrades that are most desired by the target tenant base and directly enhance the quality of the resident experience at the subject property. Renters are most willing to pay more for the enhancements/upgrades that enrich their daily lives vs. occasional use.

Conclusion

The multifamily market is undoubtedly in flux, but this period of change presents significant opportunities for those prepared to adopt a strategic approach. By carefully assessing current property performance, overhauling operational inefficiencies, revisiting financial structures and focusing on tenant attraction and retention, property owners can not

only weather the storm but position themselves for long-term success.

At Lynd, we’ve seen firsthand how these strategies can stabilize properties and drive recovery, even in the most challenging environments. I encourage you to reach out to experienced property managers that can implement these approaches tailored to your specific needs, ensuring your property remains competitive in an uncertain market.

Josué Garza rejoined Lynd in April 2024 as president of property management as the firm looks to expand its third-party property management portfolio, currently 22,000 multifamily units across 20 states. Garza has 14 years’ experience in property management, most recently as director of property management at Gran Ciudad, a Mexico City-based privately held affiliate of Black Creek Capital that develops, owns and operates multifamily housing throughout Mexico. Garza’s previous role with Lynd involved overseeing rental properties in Texas, Arizona, Colorado and California. He holds a B.A. in real estate finance from the Rawls College of Business at Texas Tech University

2024 Austin Industrial Summit

Panel 1 (L-R): Joshua Rolfe, ECR; Sullivan Johnston, Avison Young; Nathan Niehuus, SRS Real Estate Partners; Dax Benkendorfer, Live Oak
Panel 3 (L-R): Amber Autumn, Summit Design + Build; Bryan Byrd, Titan Development; Cody Bailey, Gordon Highlander; Sara Wisnieski, S. Tipton Studio
Panel 2 ( L-R): Randall Malik, City of Leander; Jordan Robinson, Round Rock Chamber; Jim Gibson, Rockdale; Municipal Development District; April Daniel, REDnews
David Watson, ATX Commercial Management & Consulting, LLC asks a question to the Panel.
Randall Malik, Director of Economic Development, City of Leander shares Regional Economic Development Opportunities with the audience
Panel 4 – (L-R): Kelly Williams, Blank Rome; Monte Hilleman, Sustainable Investment Group
Austin Industrial Summit attendees enjoy the discussion on Austin Industrial Market Trends.
Nate Niehuus, Vice President of Industrial, SRS Real Estate Partners shares with the audience Trends in the Austin Industrial Market

SCOOP/PEOPLE ON THE MOVE

Carolyn is a senior manager at abip with an impressive 36-year career in accounting. She has extensive experience working with clients in various industries including manufacturing, engineering, construction, professional services, and high-net-worth individuals and their related entities.

Carolyn’s comprehensive background makes her an invaluable asset to abip and its clients. Carolyn began her career in the audit realm, establishing a strong foundation in regulatory compliance. Over the past twelve years, she has transitioned to focus on tax, providing expert planning and advisory services to her clients. Carolyn has specialized skills in the manufacturing and engineering industries, adeptly navigating their unique financial challenges. With a career spanning various accounting positions, her most notable roles have been in management within public accounting since 2010, where she has effectively guided teams and shaped the financial strategies of numerous organizations.

Kent Pontious hired at Hoefer Welker

Kent Pontious is an accomplished architect with over 30 years of experience in the architecture and construction industry. He has been pivotal in leading innovative design projects emphasizing sustainability and community impact.

Kent’s expertise spans various sectors, including commercial, multifamily, and civic architecture, where he has successfully managed teams and fostered collaborative environments to achieve design excellence. Welcome to the team, Kent!

Stream Realty Partners promotes industry leader Randy Cooper to Partner

Stream Realty Partners, a national commercial real estate firm offering an integrated platform of users, announces the promotion of Randy Cooper to Executive Vice Chairman and Partner. In this role, Cooper will continue to assist in leading Stream’s office tenant representation division in the North Texas market and contribute to the expansion of the company’s national office tenant representation practice.

Cooper joined Stream in 2020 as Managing Director and was promoted to Executive Vice Chairman in 2021. Since then, he has played a pivotal role in establishing Stream’s office tenant representation business within the Dallas/ Fort Worth metroplex, solidifying the firm’s position as a top service provider in North Texas. His vast experience in managing headquarters and corporate relocations, build-to-suit projects, and lease transactions has been invaluable. Additionally, Cooper has overseen comprehensive real estate portfolios, including lease processing, lease administration, and performance reporting.

“Randy’s promotion to Partner is a testament to the value he has added to our firm. He has always shown exceptional leadership and unwavering dedication to our clients and our team,” said Blake Kendrick, Chief Operating Officer at Stream. “His strategic insights, creative approach, and extensive industry experience have significantly contributed to Stream’s growth and success within our office tenant representation practice. We are excited to see his continued impact on our firm.”

Recognized as one of the highest-producing brokerage professionals in the Texas market, Cooper has completed many of the state’s largest office tenant representation assignments, including the single-largest office lease transaction completed in the State of Texas.

Jerod Potts promoted to Economic Development Director at City of Sachse

The City of Sachse has promoted Jerod Potts to Director of Economic Development, effective October 1, 2024. Previously the Economic Development Manager, Potts brings over eleven years of experience in local government and economic development. He has extensive expertise in business retention, expansion, and attraction, having worked closely with the City Manager and the Sachse Economic Development Corporation. Potts will continue his efforts to enhance the local economy in his new role.

Dallas Snow, recognized at PDR Corp.

PDR is excited to recognize Dallas Snow. In her role, Dallas is responsible for elevating clients’ design solutions, leading the execution of the company’s initiatives, and promoting the continuous growth of PDR’s team while playing an integral role in building and maintaining client relationships. Throughout her career, Dallas has contributed to many award-winning projects, including several that have been recognized by the Chrysalis Award, Golden Fork A and regional accolades from ASID & IIDA.

David Quinn, recognized at McKim & Creed

David Quinn is the new Chief Financial Officer at McKim & Creed, an award-winning, employeeowned engineering and geospatial services firm. He brings almost 30 years of financial leadership and strategic expertise, having previously worked with large A/E/C firms, including the Shaw Group, Atkins North America, and Atkins Technical Consultants. David will oversee financial operations, information technology functions, and acquisition targeting, assessment, and integration.

Trina a tenured management professional with over 15 years of commercial real estate experience. Her management services for various clients include startups to Fortune 500 organizations and her management experience spans across 2.3M SF of class A commercial buildings, medical offices, life science, university campus, industrial, retail, and residential properties.She is best known for her excellent customer service, clear communication, and a diplomatic approach to building operations.

Trina Wright hired at Pagewood

Texas EDCs: Fueling growth across the Lone Star State

Texas has long been a beacon for business, leading the nation in population growth for the past 18 years and consistently ranking as a top state for job creation. As the 8th largest economy in the world, the state offers unparalleled advantages for businesses: a business-friendly environment with no corporate or personal income tax, a highly skilled and diverse workforce, access to global markets and robust infrastructure. These competitive edges have helped Texas secure the Governor’s Cup for the most new and expanded corporate facility projects for a record-breaking 12th consecutive year, while also earning it the title of Best State for Business from top CEOs nationwide. With its entrepreneurial spirit and favorable climate for growth, Texas remains a prime destination for businesses of all sizes.

However, with businesses flocking to the Lone Star State, local communities must fiercely compete to attract these companies to their regions. That’s why the role of economic development corporations and departments is crucial, as they drive growth by offering incentives, building infrastructure and creating business-friendly environments. In Texas, EDCs are essential players in shaping the future of thriving local economies.

‘Thriving’ Seabrook welcomes developers

The Seabrook Economic Development Corporation (SEDC) is entering a phase of dynamic growth, focusing on capital projects that have positioned the city for new developments.

Photo courtesy of CIVE
Home2Suites Photo courtesy of El Campo.

“The SEDC is thriving as it shifts focus to capital projects in the coming fiscal year, particularly with the recent completion of the SH 146 / Grand Parkway expansion,” said Gayle Cook, Seabrook City Manager and EDC Manager.

This major infrastructure project has opened the door for significant development and redevelopment along the Grand Parkway corridor, which is becoming a magnet for both commercial and residential projects. Seabrook is nearing buildout, but Cook noted that prime development areas remain.

“The redevelopment opportunities are abundant and the SEDC is eager to assist both large developers and small business owners in making these opportunities a reality,” she said.

To attract investment, the SEDC has updated its incentive menu, offering tailored support for businesses looking to expand, relocate, or start fresh in Seabrook.

One of Seabrook’s standout projects is the Seabrook Town Centre—‘The Edge’ multi-use development. Set to break ground in late 2024, the 19.5-acre project will feature a 322-unit Class A apartment complex, 19,000 square feet of retail and restaurant space, and offices with direct access to the Grand Parkway.

“The SEDC has completed a performance agreement with the developer, providing an incentive for a portion of the infrastructure relocations to make this project a reality,” Cook explained.

Other key initiatives include the aesthetic upgrades along SH 146, a project that Cook says has “created a unique and identifiable upgrade to the corridor,” as well as the Seabrook Plaza One development, which will feature a hotel, conference center and high-density residential units.

“Investors and developers should take note of the growing opportunities in Seabrook, particularly along the newly developed SH 146 / Grand Parkway corridor,” said Cook.

‘Promising returns’ in McAllen

McAllen, Texas, is a thriving hub for economic development, driven by its strategic location near the U.S.-Mexico border. The city's robust economy is bolstered by international trade, a flourishing retail sector and strong consumer confidence.

“The city thrives on a mix of big box retailers and a dynamic small business sector, which together create a diverse and resilient market,” said Rebecca Olaguibel, Retail and Business Development Director for the City of McAllen,

Photo courtesy of El Campo.
Photo courtesy of El Campo.
Photo courtesy of McAllen
Photo courtesy of McAllen

who added that the hospitality sector in particular has seen significant gains, generating $100 million in revenue thanks to steady business travel and leisure tourism. “Local businesses are flourishing, benefiting from a strong consumer base and supportive business environment, further fueling economic growth and job creation in the region.”

Major projects like the Anzalduas International Bridge expansion and the creation of McAllen’s International Relations Department have opened the door for increased private-sector investment.

“Ongoing business development initiatives are fostering growth, attracting new investments and expanding opportunities in key sectors, enhancing the region's economic landscape,” Olaguibel noted. National retailers such as Primark, Panera Bread, Twin Peaks, Black Bear Café, Mango, Lululemon and Marc Jacobs are among the brands set to establish a presence in the area.

For developers and investors, McAllen offers an attractive array of incentives, including tax abatements and grants, to promote economic growth.

“McAllen provides exciting opportunities for developers, with promising returns on investment driven by our growing economy and strategic location,” Olaguibel emphasized. “There are ample opportunities for forming alliances and partnerships with local stakeholders, enhancing project success. Additionally, business accelerators and support programs foster innovation and growth, making McAllen a compelling destination for forward-thinking investors.”

‘Pro-business’ El Campo is poised for growth

The El Campo City Development Corporation (CDC) is capitalizing on its strategic location and rural charm to foster business growth and community development. Located midway between Houston and Victoria along US Highway 59/Interstate 69, El Campo offers the best of both worlds: a tightknit, supportive community with easy access to big-city amenities.

“El Campo’s wonderful welcoming, neighborly quality of life is one of our best assets, and the local support for community businesses is unmatched,” says Carolyn Gibson, Executive Director of the El Campo CDC. “Residents can find whatever they need at home, but have access to all the big city offerings in less than an hour’s drive.”

Gayle Cook Carolyn Gibson
Rebecca M. Olaguibel
“Ongoing business development initiatives are fostering growth, attracting new investments and expanding opportunities in key sectors, enhancing the region's economic landscape”

Development in El Campo is largely driven by its logistical advantages and available land. The city boasts thousands of shovel-ready acres with CPKC rail access along the US Highway 59/Interstate 69 corridor. The area’s designation as a Foreign Trade Zone, Opportunity Zones and eligibility for New Market Tax Credits make it especially attractive for developers. The El Campo CDC, in partnership with the City, has completed several infrastructure projects along the highway, further bolstering the region’s appeal.

“El Campo is pro-business and looks forward to managed, sustainable and quality growth in our community,” Gibson adds.

Recent development successes include the opening of a Home2 Suites

by Hilton, supported by the CDC through an infrastructure grant. This project has spurred additional opportunities, with three adjacent lots now available for retail development along the highway. Additionally, Sonic has begun construction on a new location and a new national franchise quick-service restaurant is set to break ground soon.

“We’re actively promoting these highway frontage lots for retail development,” says Gibson.

With expedited plan reviews and a variety of incentive programs— including site improvement and infrastructure assistance grants—El Campo is well-positioned for continued growth and eager to welcome new businesses.

Marble Falls emerges as one of Texas’ premier destinations

Like most communities, Marble Falls has commercial and industrial land that is available for development. The town of just over 7,500 also has reasonably good transportation infrastructure and proximity to large urban centers like Austin (60 minutes away) and San Antonio (75 minutes away). The area can start claiming some advantages as a scenic lake town in the Texas Hill Country, popular for retirees and tourists alike, with recent growth creating new opportunities in the healthcare, light manufacturing, and professional office sectors. Being a regional shopping hub for more than 121,000 people gives Marble Falls an energetic vibe unrivaled by communities of similar size.

What sets Marble Falls apart, however, now more than ever, is the community’s small-town values coupled with its welcoming attitude toward newcomers. In the last few years, new residents from over 100 counties in 43 states have fueled steady growth and development across the region. From 2020 to 2021, household income grew more in Burnet County than in any other county in the state. People are realizing that, if they can work from anywhere, they want to work from the Marble Falls area.

Downtown Marble Falls in particular has both contributed to and benefited from that growth. Professional offices and small headquarter facilities are well-situated here with proximity to quaint shops, great restaurants, and amazing park space. After years of planning, a new anchor development is finally underway: the Ophelia Hotel & Conference Center, part of the Tapestry Collection by Hilton. The project will feature 127 guestrooms, approximately 10,000 square feet of meeting space, and unique food and beverage offerings.

While the emergence of Marble Falls as the retail and entertainment hub of the Highland Lakes area is a relatively recent development, the community’s draw for generations has been its connection to the outdoors. Beautiful Lake Marble Falls is ideal for skiing, kayaking, canoeing, and paddleboarding, and the Downtown parks along the waterfront are continually enhanced by a $25 million improvement plan that began in 2019.

Marble Falls is already a special place, and community leaders are focused on making incremental improvements to a few areas while maintaining momentum in others. When it comes to new businesses, size and fit are critical considerations. Small- to medium-sized companies will likely have an easier time with real estate and employment than very large firms—and the community likes it that way. If the prospects of a charming small town with steady, manageable growth and a surprising set of amenities sound appealing, give Marble Falls a shot. Whether your interests lead to a greenfield development in the Business and Technology Park or the restoration of an historic downtown structure into a live/work/shop space, opportunities abound in Marble Falls. For more information about investing in Marble Falls, contact Christian Fletcher, Executive Director of the EDC, at 830/798-7079 or cfletcher@marblefallseconomy.com.

A small town with big potential. Beyond our booming economy, you’ll find landscapes filled with adventure, food flavored with goodness, and new Texans falling in love with life. Unlock your potential here.

Lubbock, Texas Sees Momentum in Diverse Manufacturing Projects

Located in America’s Heartland, Lubbock, Texas is known for its thriving agriculture, manufacturing and technology sectors. Companies such as Leprino Foods, Tropicale, Plant Agricultural Systems (PLANT-AS) and Dura-Line recognized the region’s prominence in manufacturing and its available skilled labor force, choosing to expand into the area. These advantages, and more, provide endless opportunities for companies to grow in Lubbock.

Leprino Foods, a global leader in mozzarella cheese and other dairy nutrition production, is near completion on its 850,000-squarefoot facility located in East Lubbock where over one million pounds of cheese will be processed daily. Serviced by regional dairies throughout West Texas, roughly 200 trucks per day will be needed to service this facility.

Supported by world-class food safety, operations, training, and maintenance programs, as well as monitored and controlled through leading-edge automation and instrumentation, this facility will expand Leprino’s existing network of mozzarella cheese production plants around the world. The finished products will be distributed throughout the United States and internationally. This investment will result in $10.6 billion over the next ten years for the state of Texas.

Another company that announced an expansion in Lubbock is Tropicale Foods, the No. 1 Hispanic Frozen Novelty Company in the U.S., added 500 jobs and $66.8 million in capital investment in Lubbock to continue producing its delicious, authentic Mexican frozen treats.

And, in the technology sector, a leading global manufacturer and distributor of conduit, FuturePath, and cable-in-conduit, Orbia’s Dura-Line business expanded in Lubbock adding $52 million in capital investment and 141 new jobs. The company delivers infrastructure solutions to transform connectivity in industries including telecommunications, enterprise networking, energy and transportation. The business announced its expansion into the Lubbock Logistics Center II located in the Lubbock Business Park, where it will manufacture plastic conduit for fiberoptic lines.

IN ABILENE, TEXAS

INVESTING IN TRANSFORMATION

Fifth Ward’s Journey of Growth and Community Empowerment

T h e F i f t h W a r d C o m m u n i t y R e d e v e l o p m e n t C o r p o r a t i o n

( F i f t h W a r d C R C ) i s a p i v o t a l f o r c e i n t h e r e v i t a l i z a t i o n a n d

s u s t a i n a b l e d e v e l o p m e n t o f H o u s t o n ' s h i s t o r i c F i f t h W a r d .

O u r m i s s i o n i s t o d r i v e t r a n s f o r m a t i v e c h a n g e , b l e n d i n g

t h e r i c h c u l t u r a l h e r i t a g e o f t h i s s t o r i e d n e i g h b o r h o o d

w i t h i n n o v a t i v e s t r a t e g i e s a i m e d a t f o s t e r i n g e c o n o m i c

g r o w t h a n d a f f o r d a b l e h o u s i n g w i t h h o p e s o f e n h a n c i n g

t h e o v e r a l l q u a l i t y o f l i f e f o r e v e r y r e s i d e n t .

S t e e p e d i n r i c h h i s t o r y , t h e F i f t h W a r d h a s l o n g b e e n a

f o c a l p o i n t f o r c u l t u r a l d e p t h a n d r e s i l i e n c e i n H o u s t o n .

F i f t h W a r d C R C ’ s c o m m i t m e n t t o t h i s c o m m u n i t y i s

e v i

Central to our ethos is a deep commitment to the development of affordable housing that meets the diverse needs of Fifth Ward residents. By leveraging partnerships with developers, local governments, and stakeholders, we have successfully implemented housing solutions that are both cost-effective and high in quality. These initiatives ensure that long-term residents can remain in their community, even as the area grows and evolves. This not only builds a resilient community but also makes the Fifth Ward a model for urban community development.

The Fifth Ward CRC places immense value on the Fifth Ward’s cultural legacy, integrating it into the fabric of our redevelopment efforts. Our projects not only aim to preserve historic landmarks but also to celebrate the area's vibrant culture through arts and events. Sustainability is a cornerstone of our approach, with initiatives designed to promote green living, enhance public spaces, and ensure the long-term viability of the neighborhood. By prioritizing cultural preservation and sustainability, the Fifth Ward remains a unique and enriching place to invest and thrive.

The Fifth Ward community is experiencing a cultural and economic renaissance, thanks in part to the FWCRC's initiatives. We support local businesses, cultural institutions, and educational programs that contribute to a thriving local economy and vibrant community life. Our efforts ensure that the Fifth Ward remains a place where culture and commerce flourish together.

Fifth Ward's story is one of resilience, renewal, and community. With the Fifth Ward CRC at the helm, we are not only responding to immediate housing needs but also shaping a sustainable and inclusive future for the Fifth Ward. By investing in affordable housing and supporting holistic community development, we are not just building homes but fostering a community where everyone has the opportunity to thrive.

Fifth Ward’s journey, guided by the Fifth Ward CRC, is one of community, culture, and innovation. It’s a narrative of a neighborhood that honors its past while boldly stepping into the future. We invite you to explore the investment possibilities in the Fifth Ward a community not just with a story to tell but with a future to shape. Join us in contributing to a legacy of growth, empowerment, and resilience.

TEXAS EDC NEWS

DEVELOPMENT CORPORATION OF ABILENE

174 Cypress Street

Abilene, TX 79601

P: 325.280.1269

Website:DevelopAbilene.com

Key Contacts: Misty Mayo, President & CEO, misty.mayo@abilenedcoa.com; Brock New, Vice President, Business Development, brock.new@abilenedcoa.com Services/Demographic Info: Abilene, Texas – Your Premier Location for Expansion 151,613 Regional Labor Force

315,000+ Regional Trade Area

32 Years Median Age

CITY OF MCALLEN

1300 Houston Ave. McAllen, TX 78505-0220

P: 956.681.1001

Website:

www.mcallenmeansbusiness.com

Key Contact: Rebecca M. Olaguibel, Director Retail & Business Development, rmolaguibel@mcallen.net

Services/Demographic Info:

Site selection and orientation tours; expedited plan review

Population: 140,000

Median age: 32

Total annual retail sales: $3 billion

13,000+ students at 6 higher education institutions

Incentives: Nationally recognized for attracting high-value projects, the Development Corporation of Abilene is your partner to expand through creative incentive packages to meet your needs.

Recent CRE Activity: 680,000 square feet of industrial real estate under construction through the Development Corporation of Abilene's partnerships. 500+ acres available for development in two business parks.

FIFTH WARD COMMUNITY REDEVELOPMENT CORPORATION

4300 Lyons Avenue

Houston, TX 77020

P: 713.674.0175

Website: www.fifthwardcrc.or

Key Contact: Kathy Flanagan Payton, President and CEO, kpayton@fifthwardcrc.org Services/Demographic Info: The Fifth Ward in Houston, historically an African-American hub, now reflects a more diverse population. By 2019, its demographics Its population its population was predominantly Black and Hispanic. Income levels remain modest, with ongoing community revitalization and housing development efforts.

Incentives: Community incentives in the Fifth Ward include being part of a progressive and comprehensive revitalization strategy that also offers homeownership counseling, educational resources, and community building initiatives. These efforts empower residents, enhance engagement, and foster long-term neighborhood development and growth. Recent CRE Activity: Recent CRE activities in the Fifth Ward include a partnership with the US SBA to host a resource workshop for small businesses and entrepreneurs, along with the upcoming "FALLing into Homeownership" event, an annual workshop for prospective homebuyers. Fifth Ward CRC is currently repurposing to historic landmarks-the St Elizabeth Hospital is being transformed to mixed income housing and we are also amidst development of new technology and business center known as The 2510.

Incentives: Tax increment financing; property tax abatements; job training programs; demographic studies; traffic studies; foreign trade zone

Recent CRE Activity: Construction of 70,000 square foot retail plaza at Tres Lagos master planned community; Construction of 86,500 square foot mixed use plaza

Shops at Nolana; Construction of 22,500 Mission Restaurant Supply regional HQ; Construction of 80,000 square foot new to market retailer Floor & Decor; Completion of $40 million expansion of Simon’s La Plaza Mall; purchase of 38 acres of land by UTRGV School of Medicine for the McAllen Academic Medical Campus including partnership with MD Anderson; completion of 84,000-square-foot UTRGV Medical Research Facility; Shops at 29: 200,000 square feet of new retail space including restaurants and first-to-market retail, anchor tenants include Dave & Busters, Burlington, Ulta, Bubba’s 33, Freddy Frozen Custard, T-Mobil and Ross; Texas A&M School of Engineering, BioMedical, Agriculture and Lab Sciences at Tres Lagos; new 76,000-square-foot Dicks Sporting Goods at Las Tiendas power center; completion of Rio Bank Headquarters six-story building with Class A office space; first to market restaurants include Black Bear Diner, Jersey Mikes, Ojos Locos and Twin Peaks. New to market retailers includes Panera Bread, Primark, Lululemon, Marc Jacobs, and Mango.

MARBLE FALLS ECONOMIC DEVELOPMENT CORPORATION

801 4TH Street

Marble Falls, TX 78654

P: 830.798.7079

Website: www.marblefallseconomy.com

Key Contact: Christian Fletcher, Executive Director, cfletcher@marblefallseconomy.com Services:

*Corporate location feasibility studies

*Up-to-date inventory of commercial properties/buildings

*Site selection and orientation tours

Demographics:

Population: 7,650

Median Age: 49

Average Household Income: $123,476

Median Home Value: $388,869

Total Annual Retail Sales: $843.9 million

Additional Demographic Info: Trade area population 121,476

LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE

1500 Broadway, Suite 600

Lubbock, TX 79401

P: 800.687.5330

Website: lubbockeda.org

Key Contact: Chris Rankin, Director of Business Recruitment, chris.rankin@lubbockeda.org

Services/Demographic Info:

Lubbock is the place to be! Named amid the Top 20 Best Cities to Start a Business, Lubbock boasts a thriving business climate, diverse industry profile, healthy job growth and an affordable lifestyle.

Incentives:

Facade improvement grants

Low land costs in business park

Potential infrastructure grants

Recent CRE Activity: Ophelia Hotel & Conference Center-127 guestroom Tapestry

Collection by Hilton with 10,000 sq. ft. of meeting space, Residential & multifamily developments; park expansion & improvements, new & expanded retail

Underserved Retail: Sporting goods, niche retail, casual dining

CRE MARKETPLACE

ARCHITECTS/DESIGN-BUILD FIRMS

KDS de stijl interiors, LLC

2006 E Cesar Chavez St. Austin, TX 78702

P: 512.457.1332

Website: kdsaustin.com

Key Contacts: Jill Laverentz, Owner, jill@kdsaustin.com; Clark Kampfe, Principal, clark@kdsaustin.com

Services Provided: Programming & Client Process Analysis – Due Diligence & Building Analysis – Schematic Design – Test Fit & Pricing Notes – Project Scheduling Goals – Consultant Team Formation – Cost Analysis & Value Engineering – Design Development – Construction Documentation – Racking, Commodity, & Equipment Coordination – Permit Processing – Project Management – Construction Administration – Project Budgeting & Cost Tracking – As-Built Documents

Company Profile: KDS is a full-service commercial design firm with 30+ years of experience including 25,000,000+ SF of Industrial/Flex and 3,000,000+ SF of Office Projects. We are committed to responsiveness and to providing well designed and implemented solutions. Our extensive knowledge base and adept management of critical milestones creates consistently successful projects.

Notable/Recent Projects: American Canning – Austin, TX – 101,000 SF –Manufacturing & Distribution

FlightSafety International – TX & OK – 186,000 SF Combined – Manufacturing GT Distributors – Pflugerville, TX – 58,000 SF – Retail, Office, Fabrication, Storage & Distribution

LGE DESIGN BUILD

280 E. Levee Street

Dallas, TX 75207

P: 469.498.0998

Website: lgedesignbuild.com

Key Contact: Ray Catlin, Regional Vice President, rcatlin@lgedesignbuild.com

Service Provided: LGE Design Build provides comprehensive design and construction services, including architecture, engineering, and interior design. LGE specializes in commercial, industrial, retail, healthcare, and tenant improvement projects. Utilizing a client-centric, design-build model, LGE ensures streamlined processes, reduced costs, and sustainable building practices for customized, high-quality results.

Company Profile: LGE, with dual headquarters in Phoenix and Dallas, provides full-service architecture, design, engineering, budget control, permits, and construction. Renowned for integrity and craftsmanship, LGE has completed over 1,200 projects across industries like industrial, office, hospitality, medical, and more, delivering award-winning designs.

Notable/Recent Projects: LGE Dallas Headquarters, Mesquite 635, Fort West Commerce Center, Houston Point 290, Cypress Creek Distribution Center, McKinney Trade Center II, Sunridge Industrial Park, Park West Phase III, Bottled Blonde / Backyard Fort Worth.

BROKERAGE FIRMS

CMI BROKERAGE

820 Gessner, Suite 1525

Houston, TX 77024

P: 713.961.4666

Website: cmirealestate.com

Key Contacts: Trent Vacek, tvacek@cmirealestate.com; James Sinclair, jsinclair@cmirealestate.com

Services Provided: Central Management, Inc. is a full-service commercial real estate firm providing Brokerage Services; Property, Facility, Construction and Asset Management Services; Landlord and Tenant Representation; Land Sales; Receivership and Real Estate Recovery. Services are available for Industrial, Land, Multifamily, MOB, Office and Retail. Licensed in Oklahoma and Texas.

Company Profile: Central Management, Inc. (CMI) was founded by Houston real estate professional Vic Vacek in 1978. Our team understands the intricacies of the markets that offer investors an edge both from a leasing and an asset management perspective. Certified AMO® 1984, IREM, CPM, CCIM, NAR, HAR, NALP, ICSC, and TREC.

Notable Transactions/Clients: Armada Big Springs Ptnrs, Barbour Invts., Baytown ISD, Core Real Estate, Hoffpauir Estate, JLC Properties, KBR, Prudential, Rawson Blum & Leon, Subway, Texas Hearing Institute, Triple Crown Invts., US Oncology, Vigavi Realty, Walgreens.

ROOFING COMPANIES

HIGHUP ROOFING

6620 Isabelle Dr. Austin, TX 78752

P: 512.566.9989

Website: highuproofingllc.com

Key Contact: Nasir Hussain, Owner, highuproofing94@gmail.com

Services Provided: Flat Roof Coating, Roof Repair, Roof Installation, Roof Maintenance, Torch Down Roofing, Commercial Roofing, Residential Roofing.

CONSTRUCTION COMPANIES/GENERAL CONTRACTORS

ALSTON CONSTRUCTION COMPANY

HOU: 1300 W. Sam Houston Pkwy S Suite 225, Houston, TX 77042

DAL: 10440 North Central Expressway

Suite 720, Dallas, TX 75231

Website: alstonco.com

Key Contact: HOU: Nick Dwyer, Director of Business Development, ndwyer@alstonco.com

DAL: Brittany Schneider, Director of Business Development, bschneider@alstonco.com

Services Provided: Alston offers a diverse background of design-build experience, general contracting and construction management of industrial, commercial, healthcare, retail, and municipal projects.

Company Profile: Alston Construction’s success begins and ends with our approach to planning, scheduling, and choosing the right team. We have been adhering to an open and collaborative approach since our founding more than 35 years ago.

Notable/Recent Projects: Innovation Ridge Logistics Park, a 1.1 million SF 3 building industrial business park in Forney; 610 Business District, a 388,795 SF industrial park located in Houston; 1.2 million SF logistics facility located in Conroe.

SUMMIT DESIGN + BUILD, LLC

98 San Jacinto Blvd, 4th Floor Austin, TX 78701

P: 512.872.6698

Website: summitdb.com

Key Contacts: Adam Miller, President, amiller@summitdb.com; Doug Hayes, Project Executive, dhayes@summitdb.com; Amber Autumn, Business Development, aautumn@summitdb.com

Services Provided: Summit Design + Build, LLC is a provider of full service general contracting, construction management and design/ build construction services for the commercial, industrial, multifamily residential, office/tenant interiors, hospitality and institutional markets.

Company Profile: Located in downtown Austin and with offices in Tampa, FL, Chicago, IL and North Carolina, Summit Design + Build has been involved in the design and construction of over 400 buildings and spaces totaling more than 10 million square feet over the firm’s 18 year history.

Notable/Recently Completed Projects: Montage – 2323 S. Lamar (Multifamily), Congress Lofts at St. Elmo (Multifamily), UpCampus Student Housing Tallahassee (Multifamily), WeWork (Office TI), Eli’s Cheesecake (Industrial), Lockheed Martin (Industrial), Stadium Lofts North Carolina (Multifamily).

Affordable Housing - Houston MSA

WINNER! TORREY CHASE APARTMENTS

Temenos Permanent Supportive Housing

Northwood Apartments (Twelve620)

Affordable Housing - Greater Texas

WINNER! RIVERSTONE

Pecan Grove

Estates at Norwood

Meadowbrook Apartments

The Ridge at Lancaster Apartments

Belmont Apartments

Agave

Bridge at Canyon View

Greater Houston

Falvel Apartments LLC

WINNER! XAG MIXED-USE AUDUBON DEVELOPMENT

Lamar State College Port Arthur Commercial Driver

Education and Examination Center

Hotel / Hospitality

WINNER! THE THOMPSON HOTEL HOUSTON

Industrial

WINNER! ALEXANDRIA CENTER® FOR ADVANCED TECHNOLOGIES AT THE WOODLANDS

Houston Point 290 and Cypress Creek Distribution Center

Portside Logistics Center

Montalbano Lumber Yard

Southeast 45 Logistics Park

The Great 290 Distribution Center

Project Channel

Interior Design - Suburban

HITT

WINNER! XAG HEADQUARTERS

Bechtel Energy, Inc.

Lakeside Conroe Model Home

Interior Design - Urban

Musket Level 40 Expansion

Perry Homes Headquarters

WINNER! MUSEUM OF FINE ARTS ISLAMIC GALLERIES

Chamberlain Hrdlicka

Medical Property

WINNER! THE GRAND FORUM

Mixed-Use Property

WINNER! EAST RIVER

3642 University

Hanover Parkview

XAG Mixed-use Audubon Development

The Allen Drop Shots HTX

Build-to-suit capabilities, controlled environments, tenant improvements and specific customized functionality according to the needs of every client. Ready

LIFETIME ACHIEVEMENT

MICHAEL G. SCHEURICH

Michael G. Scheurich’s passion for construction originated with his love for architecture. After growing up the youngest of 6 kids in Beaumont, Texas, he obtained his bachelor’s degree in construction science from Texas A&M University and began his career serving for three of the nation’s top 20 general contractors. Soon after receiving his master’s degree in business administration from the University of St. Thomas, he founded Arch-Con® Corporation in 2000. Headquartered in Houston, Arch-Con operates in the markets of multifamily, industrial, retail, healthcare, corporate interiors, community, hospitality and office construction. In the last decade, his team has built more than $4.35 billion in projects totaling 54 million square feet. Michael has received numerous awards for his leadership including the Small Business Administration Entrepreneurial Success Award, 10-time Aggie 100 Honoree, University of St. Thomas Distinguished Alumnus Award, two-time NAIOP Houston Icon, Houston Business Journal Most Admired CEO and REDnews Texas Commercial Real Estate Icon. He has served on numerous boards including

the Greater Houston Partnership, Wallis Bank, Bo’s Place, NAIOP Houston Chapter, the NAIOP National Board and Annunciation Orthodox School. Michael has been married to Kaitlyn for 17 years and they have twin daughters who attend St. Agnes Academy.

The Jones on Main Renovations & Improvements

XAG Headquarters

WINNER! HOUSTON ZOO HEADQUARTERS

Redevelopment / Reuse / Historic

5333 Kirby

3642 University

Coalition for the Homeless Jensen Navigation Center

Eldridge Oaks Amenities

Alara Garage

WINNER! GRUBBS VOLVO CARS CENTRAL

HOUSTON

Houston City Hall Basement Renovation

Retail / Restaurant - Houston

Edit by Elaine Turner Flagship Store

Montalbano Lumber Yard

WINNER! RYDE STUDIO

5333 Kirby

Cocody

Retail / Restaurant - Greater Houston

Golden Chick

WINNER! FULSHEAR LAWN

Bosscat Kitchen & Libations The Woodlands

Seafood City Supermarket

Riverside Grille

Lucchese Retail

Suburban Multifamily

Territory at Williams Way

The Kippford at Kemah Crossing

Skyview Flats

WINNER! RASHA AT AUDUBON

Pradera Oaks

Adora at Rosehill

Wingspan in Bridgeland

Urban Multifamily

WINNER! RESIDENCES AT THE ALLEN

Enclave at Mason Creek

Brokerage Firm of the Year

CORPORATE

Colliers Houston International Inc.

Marcus & Millichap

Lee & Associates - Houston

WINNER! NEWQUEST

HomeLand Properties, Inc.

Developer of the Year

Dhanani Private Equity Group

XAG Group

W Land Development

Howard Hughes

WINNER! PAGEWOOD

NewQuest

Provident Realty Advisors

General Contractor of the Year

DPEG Construction

JNT Construction

O’Donnell/Snider Construction

Dunhill Development and Construction, LLC

WINNER! SPD CONSTRUCTION

Alston Construction Company

Owner / Landlord

Dhanani Private Equity Group Parkway WINNER! Granite Properties

NEWQUEST Professional Service Company of the Year

WINNER! ALTUS GROUP WGA

Property Management Company of the Year

WINNER! HIFFMAN NATIONAL

Emerge Living Lee & Associates - Houston NewQuest

Architect / Engineer of the Year

Lauren Houser, AMB Architects

Courtney Alexander, Inventure

Enrico J. Galietta, Digital Realty

Rocky Gonzalez, Lee & Associates - Houston

WINNER! DILLON FLOYD WEITL, ONEFOURTWO DESIGN GROUP

Steven Ward, WGA

Broker of the Year - Investment

Dave Knobler, Marcus & Millichap

WINNER! JAKE DUTSON, STRIVE

Seth Green, ICO Commercial

Andy Flack, HomeLand Properties, Inc.

Stefan Galagaza

John Erck, Junction

Reed Vestal, Junction

Broker of the Year - Leasing

Jon Dutton, Granite Properties

WINNER! ROBERT MCGEE, LEE & ASSOCIATESHOUSTON

Jeremy Lumbreras, Stream Realty Partners

Weldon Martin, Stream Realty Partners

Thomas Nguyen, CBRE

Broker TEAM of the Year

WINNER! WADE GREENE, HANNAH TOSCH, CODY PERSYN, KIMBERLY LENARDSON, AND ADRIANA SHAW, COLLIERS

Gregory Austin, Travis A. Austin, Jackson Hart

Institutional Property Advisors (IPA), a division of Marcus & Millichap

Champion of Diversity

WINNER! CAMILLE JACKSON, INVENTURE

Rebecca Mansfield, Cadence McShane Construction Company

Johnette Rosenbalm, O’Donnell/Snider Construction

Emerging Leader of the Year - Brokerage

WINNER! WES WILLIAMS, COLLIERS

Kimberly M Couch, Fidelis Realty Partners

Matthew Asvestas, Stream Realty Partners

Heath Donica, Stream Realty Partners

Thomas Nguyen, CBRE

Industrial Montalbano Lumber Yard

Interior Design - Suburban

Bechtel Energy, Inc.

Redevelopment | Reuse | Historic Coalition for the Homeless Jensen Navigation Center

Eldridge Oaks Amenities

Retail / Restaurant - Houston

Ryde Studio

Montalbano Lumber Yard

Emerging Leader of the YearDevelopment/Management Sam Ballard

Emerging Leader of the Year - Capital Markets

WINNER! ALI WADHWANI, DHANANI PRIVATE EQUITY GROUP

Feras Moussa, Disrupt Equity

Emerging Leader of the Year - Development / Management

Bryan Wynne, XAG Group

Lacie Lugo, The Apartment Concierge

WINNER! SAM BALLARD, O’DONNELL/SNIDER CONSTRUCTION

Jayme Altemus, Avenue Living Asset Management

Nikhil Dhanani, Dhanani Private Equity Group

Troy Rucker, Junction

Executive of the Year

WINNER! NICK DHANANI, DHANANI PRIVATE EQUITY GROUP

Reed Vestal, Junction

Ben Suttles, Disrupt Equity

Marc Perilloux, O’Donnell/Snider Construction

Sameer Haswani, Haswani Investments

Burhan Altinbilek, Goldenwrist Capital LLC

Project Manager of the Year - Female

WINNER! RACHEL TERNOIS, O’DONNELL/SNIDER CONSTRUCTION

Project Manager of the Year - Male

Bryan Wynne, XAG Group

Hudson Armatys, O’Donnell/Snider Construction

Neil Potter, Colliers

WINNER! BRYCE WEGMAN, ARCO DESIGN/BUILD HOUSTON

Preston Luster, Pagewood

Eric Oliver, Junction

Property Manager of the Year

Linda Clayton, Hiffman National

Debrah L. Martin, Pagewood

WINNER! LILLIE NORTON, LEE & ASSOCIATESHOUSTON

Kimberly Couch, Fidelis Realty Partners

Real Estate Lawyer of the Year

WINNER! RAHILA SULTANALI, SULTANALI LAW, PLLC

Social Media Influencer of the Year

WINNER! CRISSY NOLEN, COLLIERS

Samy Soussan, Madison Title Agency

Volunteer of the Year

WINNER! DANIEL LAGREE, ACCESSO

Woman of the Year

Rahila Sultanali, Sultanali Law, PLLC

Lucy Singh, Dhanani Private Equity Group

Sally Campbell, Inventure

TRANSACTION

Most Significant Investment Sale Transaction in 2023

Lantana Ranch Manufactured Housing Development

WINNER! NINE INDUSTRIAL BUSINESS PARKS TRADE IN PORTFOLIO SALE IN NORTHWEST

HOUSTON’S INDUSTRIAL MARKET

West Side Plaza

30AC Development land sale

Most Significant Lease Transaction in 2023

WINNER! IGLOO DISTRIBUTION CENTER

Fluor Lease Signings at Two and Three Eldridge

Bocado Deal at The Tower

Katy Freeway 13501, Suite 1050 & 2000 - Fugro (USA)

Holdings, Inc.

Congratulations, Michael Scheurich!

Thanks for bringing your passion, energy and talent across the Howard Hughes portfolio.

Creekside Park The Residences
Embassy Suites Hughes Landing
Lakeside Row The Residences
Creekside Park Medical Plaza
Creekside Park The Grove
Wingspan at Bridgeland
Lake Woodlands Crossing

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