📡 THE BIG SIGNAL
Valero wants to bring a dead Ship Channel refinery back to life
LyondellBasell’s old Houston refinery shut down in early 2025. Now Valero has agreed to buy it for $320.5 million and plans to restart part of it by the end of 2027.
The 700-acre site sits right next to the refinery Valero already runs on Houston’s east side. The first phase would run 165,000 barrels a day, about 63% of what federal data listed the plant could handle.
Why this matters: This plant dates to 1918 and employed about 400 people before it closed. LyondellBasell said the site would become a recycling and low-carbon hub. Then refining got a lot more profitable. Before day-to-day operating costs, Valero made $39.24 a barrel last quarter, up from $13.14 a year earlier.
This isn’t just about gas price. The Gulf Coast already makes more fuel than it uses, and some of this plant’s capacity cold take on its other refineries overflow.
What’s up next: The sale still has to clear a federal competition review, and Valero expects to close by year-end. Its announcement doesn’t say what restarting the refinery will cost or how many people it’ll employ. Those are the two things that will have the largest impact on our area.
🗳️ WHAT CHANGED TUESDAY
Prop A passed. Misdemeanor marijuana possession, which is still illegal under Texas State Law, becomes HPD’s lowest priority, and officers must knock, announce and wait at least 15 seconds before entering on a warrant. This could end up in state court as other city measures have been taken to court as well. Read more
New Presider over Commissioner Court. Letitia Plummer beat Orlando Sanchez for Harris County judge and is expected to replace Lina Hidalgo. She will serve as its first Black and Muslim county judge. She’ll help oversee a multibillion-dollar budget and lead disaster response. Read More.
HISD takeover over? Gov.-elect Gina Hinojosa says she’ll fire TEA Commissioner Mike Morath on day one, but don’t expect a quick change. Elected trustees return a few at a time under state law, so a board majority that could make this a reality will take time. Read More.
🏡 MARKET MINUTE · From Dustin (TX: 756260)
This past week Houston saw 8.3% fewer homes come up for sale and 15.4% less sales actually closing. There are 36,692 houses for sale currently in the Houston area.
If you’re buying: you’ve got plenty to choose from and less competition, so take your time and look closely.
If you’re selling: fewer people are out looking, so your price and your home’s condition matter much more.
These stats reflect the entire Houston market, if you’re interested in discussing your specific situation or area then book a call and we can get you a strategy.
This email is general market information only. It is not tax, legal, or financial advice, and it isn't a recommendation about your specific property or purchase. The market data comes from Houston Association of Realtors Report; it's believed reliable but not guaranteed and can change quickly. For tax or legal questions, please talk with a qualified professional. For advice on your own situation, book a call. If you're already working with another agent, this isn't meant as a solicitation and you should review with your agent they will better understand your specific circumstances than I will.
Information About Brokerage Services
Texas Real Estate Commission Consumer Protection Notice
💼 HOUSTON IN BRIEF
The Kirby Mansion is gone. Crews finished tearing down the 130-year-old Midtown home Nov. 2, days after the city briefly stopped the work over a missing permit. Read more
Little Bird is open in the Heights. It’s a New Orleans-style neighborhood spot from Winnie’s co-owner Graham Laborde. Read more
Pizza is taking over the old Tavola space. Aroma opens Nov. 14 in Uptown, with $15 pizzas at happy hour. Read more
Houston may limit new gas stations near homes. The proposal gets its first City Council hearing Jan. 13. Read more
🎃 THE WEEKEND SIGNAL
🌦️ Planning around the weather? We've marked each event as indoor, outdoor, or a mix of the two. Outdoor events may change due to weather, and tickets or schedules can change. Check the event links before heading out. (🌳 = OUTDOORS, 🏠 INDOORS)
🌳 Houston Pumpkin Festival — Downtown Houston
Final weekend of giant pumpkins, a hay maze, rides, and a 30-foot slide.
📍 Discovery Green, 1500 McKinney St. · Fri–Sun, 10 a.m.–11 p.m. · $28 per person; ages 3 and under free · Details
🌳 Fall Foliage Scavenger Hunt — Memorial Park Area
A self-guided hunt for colorful leaves and other signs of fall.
📍 Houston Arboretum & Nature Center, 4501 Woodway Dr. · Sat, 2–4 p.m. · Free; donations appreciated · Details
🏠 Collect-A-Con Houston — Downtown Houston
A massive convention for trading cards, comics, anime, video games, and cosplay.
📍 George R. Brown Convention Center, 1001 Avenida de las Americas · Sat, 10 a.m.–6 p.m.; Sun, 10 a.m.–5 p.m. · Ticketed; children 7 and under free · Details
🌳 Bayou City Duck Race — East End
6,000 rubber ducks race down Buffalo Bayou to support youth music education.
📍 Bayou Park at East River, 2920 Riverby Rd. · Sat, 10 a.m.–noon · Free to watch; $5 to adopt a duck · Details
🏠 Beetlejuice: The Musical — Downtown Houston
The Broadway musical based on Tim Burton’s film returns to Houston.
📍 Hobby Center, 800 Bagby St. · Fri, 7:30 p.m.; Sat, 2 & 7:30 p.m.; Sun, 1:30 & 7 p.m. · Ticket prices vary · Details
🌳 Houston Dynamo vs. St. Louis CITY SC — EaDo
The MLS regular-season finale and Fan Appreciation Night, with free flags while supplies last.
📍 Shell Energy Stadium, 2200 Texas Ave. · Sat, 6 p.m. · Ticket prices vary; family four-packs start at $99 · Details
🌳 Texas Renaissance Festival: Heroes & Villains Weekend — Todd Mission
Jousting, live shows, food, and fireworks, with a heroes-and-villains theme.
📍 Texas Renaissance Festival, 21778 FM 1774, Todd Mission · Sat–Sun, 9 a.m.–8 p.m. · Ticket prices vary by day; advance tickets available · Details
🌳 Onion Creek’s 18th Annual H-Town Chili Throwdown — The Heights
Sample chili from local competitors, vote for your favorite, and stay for live music.
📍 Onion Creek, 3106 White Oak Dr. · Sat, 1–6 p.m. · $25 admission, plus applicable fees · Details
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