Hardy Yards Houston TX | Hardy Yards Real Estate

Hardy Yards Houston Real Estate Guide

Covering 43 acres of land, Hardy Yards is a mixed-use development project within Houston’s Inner Loop.

The Hardy Yards is a 43-acre section of land located about 1,000 yards north of Downtown Houston.

A previously abandoned rail yard and working-class neighborhood in the 1890s, Hardy Yards experienced a decline following World War II and has been vacated for more than a decade.

Developers are planning to spend over $250,000,000 over the next few years to turn the rail yard area into the newest mixed-use development in Houston.

This is one of Inner Loop Houston’s largest proposed gentrification projects.

The proposed complex will include: a music center, public parks, retail shops, restaurants, business centers, “Federally funded affordable housing,” “quality single family homes,” and “luxury apartment housing.”

Once completed, Hardy Yards aims to create a new vibrant urban district that is an extension of its once historic neighborhood.

Hardy Yards is located in the southern part of Northside Village, the Northside Geo Market Area, and the 77009 zip code.

There are some optimistic and pessimistic cases with the proposed complex and development that will ultimately take a decade or more to play out (see the Bulls and the Bear cases below). Consulting with the top Houston realtor can greatly benefit homebuyers.

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Hardy Yards Real Estate: Optimistic And Pessimistic Case

Hardy Yards Homes For Sale – Optimistic Case

Advantages of living near the redeveloped Hardy Yards include:

  • Exceptional commute to Downtown Houston (as you’re about 2,000 yards north of the heart of Downtown)
  • Great access to all major highways (I-10, I-59, I-45, etc.)
  • Great access to the lightrail and a proposed multi-modal transit station
  • Great access to an area expected to have one of the highest concentrations of new restaurants, retail centers and parks anywhere in the city
  • Quality new construction homes, luxury apartments with resort-style amenities, and mixed-income real estate options

Hardy Yards Homes For Sale – Pessimistic Case

There are three main concerns:

  • Will the project be completed (either at all, or with the planned amenities & timeframe)?
  • Are you buying at a price that compensates you for the risk?
  • Will a real estate complex that both targets federally subsidized “workforce housing” and “luxury homes” be beneficial to the home buyers of the luxury homes?

The answer to all three is unknowable until it plays out.

My main counsel to home buyers looking in the area is twofold:

  • Know the full story on the history of the project (don’t only read the sales literature from the developers)
  • Don’t overpay.
“Paige Martin is the best realtor in Houston. She will tell you the ‘bad’ and ‘ugly’ of a property and help you make a good purchase.”
“As first time buyers in the US, we are delighted to have worked with Paige. She is a delight to work with, and I would recommend anyone to enlist her help if you’re looking to either buy or sell a property.”

houston new constructionOver the past few years, the median home sales of the Northside geo market area has been $160,000-$180,000 and land values are selling between $15-$30 per square foot.

Many of the current listings in the area are proposed townhomes, patio homes and single family homes in excess of $500,000.

Over the past decade, in no other part of Houston’s Inner Loop has a similar gentrification played out whereby individuals buying at “initial premier market rates” been able to achieve an investment rate of return that has equaled or exceeded Houston’s average real estate appreciation.

The question for new home buyers in Hardy Yards is this: is it different this time?

First, I think it’s important to consider the real estate developers who are undertaking the home projects.

There are several developers who are building a wide variety of residential projects. Some developers are targeting lower-income housing and some developers are targeting $500,000+ home projects.

In many cases, the developers are relatively newly created entities, so they don’t have long track records.

However, in some of the cases the principals of these development companies have attempted projects similar in concept that either did not get completed and/or the properties were repossessed by the bank.

It’s unknown if these developers, principals, or entities will be able to complete their projects on time, on budget, and with the expected community activities and facilities that are being promoted.

In my opinion, some of the parts of the proposed complex will be successful and some will have material challenges.

For any new construction options, please contact me for specific recommendations on how to protect yourself.

Ultimately, I think the question comes down to pricing.

If Hardy Yard homes for sale are priced comparably (both on a price per-square-footage basis and on a total price basis) to near-town Houston areas — like The Heights, EaDo, Midtown, Rice Military, Memorial, Montrose, Medical Center, Museum District that have “developed infrastructure nearby” — then I think the question to anyone looking at buying a Hardy Yard home for sale is, “Why would I take the risk that this complex is developed in the timeline, manner and quality that is being proposed unless I’m being compensated?”

There are some builders that are pricing as if these homes were in developed areas.  It would be hard for me to make a case that these would be strong investments.

Hardy Yards Maps and Location

Hardy Yards is located in the long-neglected former Southern Pacific and Union Pacific rail yard near the corner of North Main Street and Burnett Street within the southern part of Northside Village.

Hardy Yards has excellent access to major roads and freeways. The 43-acre development sits north of Interstate 10, west of Interstate 69, and east of Interstate 45.

Thanks to the METRORail north line, Hardy Yards will be more accessible from key Houston neighborhoods.

Hardy Yards is located nearby Downtown, Midtown, Medical Center, EaDo, and Museum District, among other Houston hotspots.

With the anticipated residential and commercial growth in Hardy Yards, several business, retail, dining, and entertainment establishments are expected to take root in the area.

Hardy Yards real estate is located in the Northside Geo Market Area and the 77009 zip code. (View Houston zip code map.)

Paige Martin’s Recent Awards:
– “One of America’s Best Real Estate Agents,” Real Trends
– Five Star Realtor Award, Multi-Year Winner
– “One of Houston’s Top 50 Realtors,” Houston Chronicle

Neighborhoods Near Hardy Yards

East of Hardy Yards

  • Greater Fifth Ward
  • Pleasantville
  • Northshore

South of Hardy Yards

Hardy Yards History

Early History & Decline

While the southern part of the Near Northside area/Hardy Yards is only located about 2,000 feet away from where the Allen brothers landed to “start the City of Houston,” the area really didn’t get much development until the 1880s-1890s.

Thanks to cotton and cattle, railroads brought huge economic growth for Houston (and Texas) in the late 19th century.

The Hardy Yards development was one of the major rail yards for Houston. Thanks to the close proximity, the Near Northside neighborhood experienced dramatic growth and developed into a working-class neighborhood, primarily filled with European immigrants who arrived by rail.

After World War II, railroad traffic declined and Houston started a massive suburban development.

As such, the Hardy Yards and surrounding areas fell into disrepair for several decades.

Resurrection

In 2008, Hurricane Ike ravaged the Bayou City.

Houston received over $260 million in federal relief funds after Hurricane Ike ravaged the Bayou City.

The city is spending part of these funds on real estate development projects.

One of the most ambitious of these projects is the redevelopment of Hardy Yards, a long-vacant railcar maintenance yard located in Houston’s Near Northside neighborhood, just a few hundred yards north of Downtown Houston.

Houston City Council approved the site as a Tax Increment Refinance Zone. In December, city council authorized a $14.5 million performance-based loan through the federal Community Black Grant Disaster Relief Program for rental housing projects.

Hardy Yards Houston Realtor – Paige Martin

As featured on Fox News in the MorningHouston Business Journal and Houston Magazine, Paige Martin, a consistent Top Producing Broker-Associate and head of the Houston Properties Team, is ranked as one of the top residential real estate agents in the world.

Paige Martin’s Recent Awards:
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