Houston Rockets owner and billionaire businessman Tilman Fertitta is preparing to significantly elevate the value of his River Oaks property by unveiling “River Oaks District 2.0” in 2025. In an exclusive conversation with the Houston Business Journal, Fertitta, who ranks as the top billionaire from Houston on the Forbes 400 list, shared his ambitious real estate strategy as he heads into the new year. Fertitta’s recent ventures include the acquisition of the expansive 13.87-acre River Oaks District, signaling a continued forward momentum that shows no signs of slowing.
Fertitta enthusiastically shared his outlook for 2025, stating, “2025 could be a really fun year. I definitely haven’t lost the zeal to do a deal. I’m as hungry today as I’ve been.” This statement underscores his relentless pursuit of “trophy assets” such as the River Oaks District and The Post Oak, anticipating that these properties will reach new heights of success. Fertitta’s approach typically involves identifying and capitalizing on opportunities that others might overlook, and the River Oaks District is already positioned for expansion with plans to introduce more luxury retailers and create additional open spaces.
The district has already welcomed new additions such as the Japanese restaurant Azumi, the high-end clothing brand L’Agence, floral brand Venus et Fleur, and the Swedish luxury mattress manufacturer Hästens. Fertitta’s plans to further enrich this prime location remain unabated, as he “absolutely” expects to secure additional real estate deals in Houston by 2025.
However, Fertitta also noted a potential slowdown in expanding his restaurant business, attributing this to the rising costs of construction, leases, and labor in the industry. Despite this, he is exploring the possibility of extending the New York-based The Corner Store concept into the Houston market.
In addition to real estate and dining ventures, Fertitta shared his aspirations regarding his other business interests. As the largest shareholder in Las Vegas-based Wynn Resorts, he expressed a desire to introduce gaming and casino operations to Texas, although he remains skeptical about such developments occurring in the current legislative session.
Fertitta is not resting on his laurels with his car dealership empire either. After acquiring a Houston Chevrolet dealership and a luxury Lotus dealership in The Woodlands last year, he is eager to expand further by acquiring additional non-luxury dealerships, demonstrating his intent to diversify his automotive portfolio.