HOUSTON--()--Deal Sikes & Associates, a leader in real estate valuation and eminent domain counseling, has directed a massive real estate acquisition and appraisal initiative for an expansion of Houston’s light rail system for the Metropolitan Transit Authority of Harris County, Texas.
“In addition to relieving traffic issues, light rail provides a sustainable solution for future growth and a catalyst for new development.”
More than 400 parcels of urban property have been acquired for the Houston rail line, which will bring over 15 miles of new rail track and over 20 rail stations online in 2014.
“Mobility and mass transit solutions represent strong challenges for the fast-growing city of Houston and for many of the nation’s emerging metropolitan areas,” said Matthew Deal, co-founder of Houston-based Deal Sikes & Associates. “In addition to relieving traffic issues, light rail provides a sustainable solution for future growth and a catalyst for new development.”
With a remarkable record of success, careful negotiation and pitch-perfect counsel in often politically-charged situations, less than 20 percent of METRO’s rail right-of-way acquisition required eminent domain proceedings. Due to the complexity and variation of the assemblage, the vast majority of the acquisitions required two appraisals to estimate just compensation, Deal said.
The important METRO rail project, valued in excess of $2 billion, will enhance mobility and walkable lifestyles in Houston, the fourth largest city in the nation. The rail line has encouraged real estate development, including trendsetting transit-oriented mixed-use projects near rail stations.
Routing and obtaining property for a new-growth rail line through urban land that was platted and developed many decades ago, requires the expertise of an experienced real estate counselor.
Deal Sikes & Associates is a Houston-based firm that provides real estate valuation and counseling services for eminent domain initiatives, and real estate counseling and valuation services for governmental agencies, real estate companies, law firms and corporate clients across the nation.