Oil prices are starting to have a concrete impact on office and multifamily development, the Houston Chronicle reports. Of 14 projects Nancy Sarnoff got updates on, six are actively delayed or in a nebulous state of watching the market. Many are still aggressive despite the changing market--as we reported in December, 6 Houston Center (rendered here) has slipped beyond its original timeline, but Crescent still plans to start soon; Crescent told the Chronicle it will deliver in 2017.
Six Office Projects Crippled by Oil Prices
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