Economic Development Rating and Rankings
October, 2009

Houston #1
Mega Market of the Year
Southern Business Development - August 2009

Highest Quality of Life Among Students - Rice University
Princeton Review (as reported by Rice University) - July 28, 2009

Top U.S. Manufacturing Cities
Manufacturers' News Inc. (as reported in the Houston Business Journal) - May 19, 2009

Best City to Get Ahead
Forbes.com - June 19, 2009

America's Best Hospitals - Cancer, M.D. Anderson Cancer Center
U.S News & World Report - July 15, 2009

Top Texas Tourist Destination
Office of the Governor, Economic Development and Tourism- May 12, 2009

Top Metro in the Nation
Site Selection Magazine - March 2009

Nation's Healthiest Housing Market
Builder and Hanley Wood Market Intelligence - February 2009

Best City to Live, Work and Play
Kiplinger's Personal Finance - July 2008

Best U.S. City to Earn a Living
Forbes.com - August 18, 2008

Best City for Your Job
BusinessWeek - June 12, 2008

Best City to Buy a Home
Forbes.com - July 14, 2008

Best City for Recent College Grads
Forbes.com - June 26, 2008

Lowest Cost of Living Among Major Metro Areas
ACCRA Cost of Living Index - Second Quarter 2009

Largest IT Service Economy
Onforce, Inc. (VoIP Monitor) – December 5, 2008

Most Accessible City for the Disabled
The National Organization on Disability - February 14, 2008

Top Local Government Green Power Purchaser
Environmental Protection Agency - July 2008

Highest Population Growth in the Nation
U.S. Census Bureau (as reported in the Houston Business Journal) - July 10, 2008

Houston #2
Best Cities for Jobs
Forbes.com - April 14, 2009

Nation's Top Export Markets
U.S. Department of Commerce - July 14, 2008

Number of Fortune 500 Headquarters
Fortune Magazine - April 2009

Houston #3
Fastest Growing Cities
US Census Bureau – July 2009

North American Cities of the Future
FDI Magazine – April 2009

Most Energy Efficient Commercial Buildings in the Nation
U.S. Environmental Protection Agency (as reported at USAToday.com) – March 3, 2009

Green Jobs
Global Insight – October 2008

Best Cities for Young Professionals
Forbes.com - July 09, 2008

Nation's Most Charitable Cities
Charity Navigator's 2008 Metro Market Charitable Analysis Study

Houston #4

Hottest Labor Markets
Bizjournals.com – October 16, 2009

Best Metro Areas to Launch a Small Business
CNN Money - October 2009

Green Space
Smarter Cities - August 2009

Cities Where Your Nest Egg Goes Farthest
Forbes.com - October 2008

Best Big City for Business
Inc.com - July 2008

Top Ten Up-and-Coming Tech Cities
Forbes.com - March 10, 2008

Top Cities for African Americans
BlackEnterprise.com - September 17, 2007

Best Value in Private Institutions - Rice University
Kiplinger's - February 2009

Houston #5

Top Markets for Income Growth
BizJournals.com- September, 2009

Highest Total Personal Income
Bureau of Economic Analysis - August 6, 2009

America's Best Hospitals - Heart, St. Luke's Episcopal Hospital
U.S News & World Report - July 15, 2009

Largest Share of National GDP
Federal Highway Administration; Department of Commerce (as reported in the New York Times) – July 2, 2009

Houston #6
Where the Jobs Are - Fort Bend County
CNNMoney.com - July 13, 2009

Best U.S. University for Nanotechnology Research and Commercialization
Small Times: Annual University Survey - May 5, 2009

Highest Number of Master's Degrees
The Comparative Guide to American Suburbs 2009/2010 Edition

Top U.S. Real Estate Investment Markets
Urban Land Institute (as reported in the Houston Business Journal) - January 10, 2008

Houston #7
America's Most Visited Museums - Houston Museum of Natural Science
ForbesTraveler.com - March 10, 2009

Houston #9

Most Affordable Cities for Dating
Match.com - August 18, 2009

Best Zoos for Kids
Parents.com - April 14, 2009

Houston #10
Green Energy Leaders
Scientific American- June 2009

The World's Most Inventive Cities
BusinessWeek - April 2009

Highest Number of High School Graduates - Cinco Ranch
The Comparative Guide to American Suburbs 2009/2010 Edition

Houston "Other"
Top Ten Places for Tech Jobs
US News and World Report- September 15, 2009

World Capital of the Future
Forbes.com- September 2, 2009

Texas #1

Wind Power Capacity
American Wind Energy Association - April 13, 2009

Fortune 500 Headquarters
Fortune Magazine - April 2009

Best State To Do Business
Chief Executive Magazine - March 18, 2009

Nation's Number One Exporting State
U.S. Department of Commerce - February 2009

Residential Relocations
Allied Van Lines’ Magnet States Report (as reported in the Houston Business Journal) – January 19, 2009

America's Top State for Business
CNBC.com - July 2008

Most Favorable Business Climate in the Nation
Development Counselors International (DCI) - "Winning Strategies in Economic Development Marketing" - July 2008

2008 Gold Shovel Recipient
Area Development Magazine - June/July 2008

Buyer Hesitation Begins to Dissolve
By Lawrence Yun
September, 2009

Builders Black Diamond, Abercrombie bet on Memorial Villages
Custom-home team developing high-end enclave in ritzy area
By Allison Wollam
Friday, April 10, 2009

Two Houston custom home builders have joined forces to launch a swanky subdivision in the silk-stocking Memorial Villages.

Black Diamond Cos. and Abercrombie Builders got up and running last month with Greyton Lane, a 19-home subdivision on 11 wooded acres acquired by the builders for an undisclosed price in spirited bidding competition last spring.

Tom Zenner, principal of Black Diamond, says about a dozen bidders vied for the prime tract owned by the Holy Name Retreat Center on Bunker Hill Road.

Size and location inside the Memorial Villages make the site unique, says Zenner.

“You won’t find another opportunity like this close-in,” he says. “There are no tracts this large that have never been developed.”

Andy Abercrombie, owner of Abercrombie Builders, has developed about nine different communities in the Memorial Villages over the past 20 years and feels fortunate about landing his latest project.

“It’s an exceptional find and we’re lucky we won the bid on the property,” says Abercrombie.

He chose to partner with Black Diamond on the property purchase because it’s “a lot for one builder to bite off.”

Black Diamond shares a similar track record in developing upscale enclaves. The company has completed 60 communities valued at approximately $63 million while building high-end homes in the Houston area since 2001.

Zenner notes that Cásares, a European-style gated community of 119 townhomes in Rice Village, has posted $6 million in sales since the fall. He says sales are also brisk at Bammel Lane Park Homes, a gated enclave of 12 home sites in the River Oaks area.

Sharon Ballas, a Realtor with Greenwood King Properties who has specialized in the Memorial Villages area for 20 years, says Greyton Lane marks one of the largest developments in the past 15 years.

Ballas says it’s unique for two builders to acquire a large tract of land in a wooded area close to good schools, shopping and restaurants.

She expects the community to be successful based on the location and the reputation of Black Diamond and Abercrombie Builders. All of Abercrombie’s communities in the area have been great sellers, and she expects the same from Greyton Lane.

Says Ballas: “They are both very notable in the area for their high-quality custom homes. They seem to include the right amenities to fit the lifestyle of the buyers.”

Eclectic restrictions
Infrastructure was in place and a brick fence separated the secluded cul-de-sac neighborhood from the adjacent Holy Name Retreat Center at the grand opening of Greyton Lane in early March.

Zenner says two owners are completing design work, and construction should start on their homes in the next eight weeks.

The 19 lots range in size from 20,000 square feet to approximately 27,000 square feet, and are priced between $825,000 and $925,000. The custom-built homes are expected to range between 5,000 square feet and 8,000 square feet.

Deed restrictions require stone or brick exteriors, but Abercrombie hopes to see an eclectic mix of strong architecture styles throughout the neighborhood.

He estimates that it should take three to four years to build out the subdivision, which is located east of Bunker Hill Road just north of Memorial.

Zenner sees the purchase as a good investment, noting sales activity in the high-end home sector has remained consistent in the market slowdown.

While sales volume has slipped, prices have shown a significant appreciation in the Memorial Villages area since 2006, according to statistics from the Houston Association of Realtors’ Multiple Listing Service.

In 2006, 412 homes were sold with a median price of $784,320. In 2008, there were 299 home sales with a median price of $975,000. So far in 2009, 44 homes sold at a median price of $1.05 million.

Zenner believes the natural beauty and exclusive nature of Greyton Lane will beguile buyers.

“The land is surrounded with towering oak trees and pine trees and you’ll never have to worry about any high-rises or noisy streets in this area,” he says.

Greyton Lane subdivision homesite prices start at $825K
By ROBIN FOSTER CHRONICLE CORRESPONDENT
March 23, 2009, 1:12PM

Finding a never-developed homesite in the Memorial Villages is next to impossible — until now.

Black Diamond Companies and Abercrombie Builders held a grand opening March 7-8 at a new subdivision called Greyton Lane in Bunker Hill Village, where 15 of 19 lots are for sale.

The two custom home builders were partners in the purchase of 11 wooded acres from the Holy Name Retreat Center, 430 Bunker Hill Road, in Spring 2008 in a sale that attracted about a dozen competitive bidders, said Tom Zenner, a principle with Black Diamond.

Since then, the partners have developed the property into a secluded L-shaped cul-de-sac featuring a concrete curb-and-gutter street with underground drainage.

Utilities are in place. A brick fence separates the new neighborhood from the retreat center on the north side, and a wooden fence borders the rest of it. Decorative light poles are to be installed soon.

The 19 home sites are dotted with tall, mature trees and range in size from just over 20,000 square feet to more than 26,000 square feet. They are priced between $825,000 and $925,000.

Homes are expected to range between 4,500 square feet to 8,500 square feet.

Owners can choose between Black Diamond or Abercrombie Builders to build their custom home, but the partners are also able to work with another builder if necessary, Zenner said.

“You won’t find another opportunity like this this close in,” Zenner said. “There are no tracts this large that have never been developed in the first place and that are now platted for residences.”

Zenner describes Greyton Lane as an “enormous opportunity” for families who want assurances about quality and value in the neighborhood they choose.

It’s also located amid highly regarded public schools in the Spring Branch Independent School District as well several prestigious private schools, he points out.

Homebuilder has roots
Homebuilder Andy Abercrombie, whom Zenner calls “Mr. Memorial,” grew up in the Villages and graduated from Memorial High School.

“I live in the Villages, and luckily I get to build here, too,” he said.

“This is the first big development here in about 15 years. It’s an exceptional find, and we’re fortunate we won the bid (to buy the property),” Abercrombie said.

The subdivision’s deed restrictions, which require stone or brick exteriors and meet the city of Bunker Hill’s requirements, will protect the quality of homes to be built in the neighborhood long after home construction is finished, the partners said.

Abercrombie predicts the subdivision will be fully built out within four years.

The grand-opening event aimed to attract families with children, offering burgers and hot dogs, face painting, a petting zoo and bounce house.

About 200 visitors were expected to attend. The school with the most students in attendance was to receive $1,000. In the end, Bunker Hill Elementary and Memorial Middle School shared the prize.

“I think, in this market now, people are looking for value, and when they find it, they close on it,” Zenner said.

Black Diamond has been building high-end single-family homes in Houston since 2001 and has completed about 60 projects valued at more than $63 million.

Bonner Ball, the companies’ other principal, said its other current developments include Ca’sares, a European-style gated community of 119 town homes, which is 30-percent complete in the Rice Military area of Memorial Drive, and Bammel Lane Park Homes, a gated enclave of 12 homesites in the River Oaks area.