Transformation underway for Houston's Museum District

June 27, 2013 7:05:53 PM PDT
A transformation is underway in Houston's Museum District, where residents are seeing new homes and businesses popping up on just about every street corner.

If you haven't been here in a while, you've missed out on a lot and more change is on the way. The charm and sophistication of the museum district will soon be seasoned with a dash of pizazz.

Resident said, "I have construction on three sides -- front, side and back."

The old Third Ward is already home to plenty of new town houses and office spaces.

"In the last six years things have really transformed in the area"

As Museum Park Super Neighborhood president Russell Hruska will tell you, there is even more on the way.

He said, "Ideally located at 288 and 59, it's an easy on and off for every place in town so I think people have really seen this as a place to come and live -- work and play, for that matter."

Land value here is on the rise, some $10 per square foot more than it was just three or six months ago. Some of the museum district's newer neighbors are Mosaic bar and lounge and Lucille's restaurant. Developers like Balcor see the potential and are capitalizing, with a large scale project -- Park Binz, with 50,000 square feet of restaurant, retail and office space and attached parking garage with 200 spaces. Perfect, they believe, for visitors and locals, alike.

"They have nowhere to go and this is going to provide all the amenities we need," said Chris Balat with Balcor. "This is just phase one and phase two that we're planning."

Additionally, there a big Hines project in the works out here.

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