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Generation Park goes big, rates top 7%, and your weekend plan
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Two drugmakers next door to Kingwood, builder rates in the 4s, and the Oktoberfest you will want to know about.
From
Michael O’Neal · The O’Neal Insider

Edition 01 · Week of October 12, 2026

The O’Neal Insider

Houston Living. Real Estate. What’s Next.

Aerial view of Houston at dusk

This week

Generation Park goes big, rates top 7%, and a fall weekend worth planning

Two drugmakers are building next door to Kingwood, mortgage rates hit their highest point since 2023, and builders are answering with rates in the 4s. Here is what it all means for you.

Read This Week’s Edition

The Big 5

What everyone is talking about

1 · Jobs & Development

Eli Lilly starts building a $6.5 billion plant in Generation Park

Lilly expects more than 600 permanent high-wage jobs and roughly 4,000 construction jobs, a short drive from Kingwood, Humble and Atascocita.

2 · Jobs & Development

Bristol Myers Squibb picks Generation Park for a $2.3 billion campus

About 500 permanent jobs for technicians, engineers and quality staff, plus about 2,000 construction and indirect jobs between 2027 and 2030.

3 · Redevelopment

The old Greenspoint Mall site will become CityNorth Industrial Park

A long-empty site on I-45 North finally gets a new use, with jobs to follow.

4 · Manufacturing

Power Electronics breaks ground on a 53-acre inverter factory

More than 400 jobs once the campus is complete, and another sign that energy-transition manufacturing is choosing Houston..

5 · Flood Protection

Harris County gets one more year to spend $1.1 billion in flood money

This money pays for detention basins and drainage work that lowers flood risk for homeowners.

Houston real estate in 60 seconds

Median sale price

$330,000

Down 1.5%

Closed sales

7,100

Down 11.5%

Months of inventory

5.3

No change

Days on market

54

Up from 52

HAR, August 2026. 30-year fixed rate: 7.40% (Freddie Mac, Oct. 8, 2026). Full market report

Weekend planner

Your next two weekends

Texas Renaissance Festival · Sat & Sun, Oct. 17-18 and Oct. 24-25
21778 FM 1774, Todd Mission · $15.25 to $39.80 plus tax, by date

Kingwood Oktoberfest · Sat, Oct. 17
1901 Woodland Hills Dr., Kingwood · $10 adults, $5 ages 3-12, under 3 free

Good Oil Days Festival · Sat, Oct. 17
Uptown Park, 310 E. Main St., Humble · Free

Houston Symphony: Hocus Pocus Pops · Fri, Oct. 23
Cynthia Woods Mitchell Pavilion, The Woodlands · Free, no tickets needed

See all events

Builder deal spotlight

Chesmar Homes: 30-year fixed from 4.999%

Contract Oct. 1 to Oct. 18, 2026. Close by Dec. 31, 2026.

Financing through HomeAmerican Mortgage. Minimum credit score 680 for FHA and VA, 780 for conventional. Owner-occupied only. Loan amount capped at $832,750. Limited funds, first come, first served.

See every verified builder deal and disclosures

Keeping it real with O’Neal

Rates just touched 7.40%. Builders are answering with rates in the 4s and low 5s through their own lenders, and Houston has 5.3 months of inventory, a balanced market. Homes priced right are selling. Homes priced off last spring are sitting. And more than 1,100 permanent jobs are coming to Generation Park. That is a big deal for Lake Houston.

Call or text me anytime at 832-797-3780.

Michael O’Neal

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Michael O’Neal, Broker · REALTOR® · The Michael O’Neal Group · Keller Williams Realty Northeast
20665 W. Lake Houston Pkwy, Kingwood, TX 77346 · 832-797-3780

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Local news, market insights, new construction incentives and weekend ideas. Read this week’s edition.

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