Harris County Flood Control District (HCFCD) reports that it is buying out a handful of low-lying homes on Fieldtree Drive in Northshire where the City of Humble could soon build a pocket park. The area flooded badly during Harvey. Northshire lies between Deerbrook Mall and the San Jacinto River west of the hotels that line US59.
A drive down Fieldtree reveals several homes at the bottom of the hill that have already been demolished and others that look abandoned.
HCFCD Buyouts in Progress
Impact of Flooded and Abandoned Homes on Tax Base
For the most part, modest but well-maintained homes line Fieldtree. The street slopes sharply and all of the vacant or abandoned lots lie at or near the bottom of a hill near Glencreek Drive.
Harris County Appraisal District shows that home market values took a beating in this neighborhood after Harvey. Appraisals for homes at the top of the hill went down about 15%. The farther down the hill you went, the farther down appraisals went – from 20% to 30% or more. The house above even lost a whopping 65% of its market value.
Currently, the abandoned homes seem to be dragging down values of homes that didn’t flood on higher ground. However…
Pocket Park Could Help Reverse Downward Trend
According to Humble City Manager Jason Stuebe, Humble is considering building a pocket park once buyouts in this area are complete.
A pocket park could make a nice residential amenity that helps home values in the neighborhood bounce back. Proximity to parks can help improve home values more than 20% according to a Texas A&M survey of more than 30 different studies. The increase in home values can even pay for the park according to the A&M study. The park could even be an amenity that helps attract guests to hotels across the street.
This could be a win-win for everyone involved.
Posted by Bob Rehak on 11/25/2019
818 Days since Hurricane Harvey