I had reasons to drive through the 3rd Ward on business last week. I was impressed with the level of high end/ high density real estate development that is going on. The transformation of the 3rd Ward is happening much quicker than even the optimists predicted.
What I wasn’t aware of is that 75 % of the current residents of the 3rd Ward are renters. Which means developers are buying tracts of land from landlords instead of owner occupiers. That scenario means development will happen quickly as landlords are easier to come to terms with.
I am very sympathetic to people who fight against gentrification. However in Houston in particular and Texas in general, real estate gets put to its highest and best use without regard to much sense of history.
If the 3rd goes high end/ high density as it appears it will, that is a game changer for the University and attendance at football and basketball games. Over the next 10-15 years the current 3rd Ward will transform to being part the residential area of the medical center and downtown and it will drag U of H with it. UH will no longer be the university in a bad part of town but a high end public university located in a high end residential part of Houston.