Bill Fulton

New housing is still mostly high-end housing, but there's definitely more opportunity and more options in a place like Houston than you see in most other cities at this point.

New housing is still mostly high-end housing, but there's definitely more opportunity and more options in a place like Houston than you see in most other cities at this point.

Yes, I do think that other cities will become more like Houston. They probably won't give up zoning altogether, but they'll make zoning more flexible than it has historically been.

Yes, I do think that other cities will become more like Houston. They probably won't give up zoning altogether, but they'll make zoning more flexible than it has historically been.

Yes, I do think that other cities will become more like Houston. They probably won't give up zoning altogether, but they'll make zoning more flexible than it has historically been.

Right now, we're looking at every downtown in America with a lot of empty office space. So why can't you convert that to apartments, right? There are a lot of people trying to figure that out. In some cases, that has happened. particularly with older buildings. You get to a bigger retail space and a bigger office space, and it actually gets pretty complicated.

Right now, we're looking at every downtown in America with a lot of empty office space. So why can't you convert that to apartments, right? There are a lot of people trying to figure that out. In some cases, that has happened. particularly with older buildings. You get to a bigger retail space and a bigger office space, and it actually gets pretty complicated.

Right now, we're looking at every downtown in America with a lot of empty office space. So why can't you convert that to apartments, right? There are a lot of people trying to figure that out. In some cases, that has happened. particularly with older buildings. You get to a bigger retail space and a bigger office space, and it actually gets pretty complicated.

We are now to the point where most of the vacant office space that we're seeing in downtowns is from the last time we had a huge office boom, which was the 1980s. The floor plates are huge. So, you know, a typical floor plate, by which I mean to say the size of a floor in one of those office buildings, is maybe 50,000 square feet.

We are now to the point where most of the vacant office space that we're seeing in downtowns is from the last time we had a huge office boom, which was the 1980s. The floor plates are huge. So, you know, a typical floor plate, by which I mean to say the size of a floor in one of those office buildings, is maybe 50,000 square feet.

We are now to the point where most of the vacant office space that we're seeing in downtowns is from the last time we had a huge office boom, which was the 1980s. The floor plates are huge. So, you know, a typical floor plate, by which I mean to say the size of a floor in one of those office buildings, is maybe 50,000 square feet.

So that's very hard to convert to apartments because there's so much interior space that would be without windows.

So that's very hard to convert to apartments because there's so much interior space that would be without windows.

So that's very hard to convert to apartments because there's so much interior space that would be without windows.

Right. And you try to convert that into apartments when you have that much space that would wind up being interior without windows. That's very hard.

Right. And you try to convert that into apartments when you have that much space that would wind up being interior without windows. That's very hard.

Right. And you try to convert that into apartments when you have that much space that would wind up being interior without windows. That's very hard.

Conversion of old retail space, and particularly old malls, is more promising. And usually the malls have the largest contiguous land ownership in built-up desirable areas. Oh, interesting. And we are beginning to see more and more malls being redeveloped as well. at least part of the property being redeveloped for apartments or condos. There's a bunch of complicated factors there.

Conversion of old retail space, and particularly old malls, is more promising. And usually the malls have the largest contiguous land ownership in built-up desirable areas. Oh, interesting. And we are beginning to see more and more malls being redeveloped as well. at least part of the property being redeveloped for apartments or condos. There's a bunch of complicated factors there.

Conversion of old retail space, and particularly old malls, is more promising. And usually the malls have the largest contiguous land ownership in built-up desirable areas. Oh, interesting. And we are beginning to see more and more malls being redeveloped as well. at least part of the property being redeveloped for apartments or condos. There's a bunch of complicated factors there.