HOUSTON, April 16, 2013 (GLOBE NEWSWIRE) -- Calvin D. Blake, managing director of Houston's Direct Commercial Funding Inc., sees plenty of potential in the Houston City Council's plans to possibly re-zone areas and allow for more middle class residential development.
According to news reports, the proposed zoning changes would allow greater housing density outside Houston's Loop 610, enabling builders to fit more homes or townhomes on the same piece of land, thus bringing down the price of each dwelling.
This in turn might draw middle class families looking to relocate closer to urban offices.
"One very important piece of the initiative is already in place," says Blake. "Interest rates remain very low, and the Federal Reserve's ongoing policy of quantitative easing suggests rates will remain low in the foreseeable future."
His firm is a leader in private commercial development lending, delivering customized solutions and a full menu of loan and financing programs for business owners, developers, investors and commercial real estate professionals nationwide, he notes.
And he sees ample evidence that the local real estate sector is already enjoying a boom which gives every indication of being genuine.
"We're seeing a steady increase in loan requests for local multi commercial development projects," he says. "The demand for new housing is growing. Broadening the range of affordable in-town choices can revitalize urban areas with new housing plus the commercial venues needed to serve families opting for urban convenience."
Blake notes that the new shops and restaurants required will multiply any positive economic effect—and that a younger demographic of home buyers increasingly favors the idea of a more active lifestyle than that available in traditional bedroom suburbs.
Source:Direct Commercial Funding, Inc.