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Presentation to Association of Commercial Real Estate Professionals by Energy Corridor District General Manager Clark Martinson. For more information, visit: www.energycorridor.org
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Associa'on of Commercial Real Estate Professionals The Energy Corridor Presenta'on
Clark Mar(nson, AICP, AIA Assoc., LCI General Manager
AGENDA
• Regional Significance • Energy Corridor Land Use and Demographics • Energy Corridor Growth • Energy Corridor Land Deals • Energy Corridor Traffic Solutions • West Houston Community Vision • ACRP discussion on what's going on
Regional Significance
The Energy Corridor
Clear Lake
TheWoodlands
Sugar Land
FM 1960 IAH
Greenspoint
Brookhollow
CBD Uptown
Hobby
Source: Houston Tomorrow
Energy Corridor 30 Minute Commute
Source: CDS Market Research
Energy Corridor Land Use and Demographics
• 1978 – 1984 – Built 13 million sf office • 2001 Energy Corridor District created • 2006 – 2010 - Built 5.3 million sf office
Energy Corridor Business
• Third largest employment center • More than 77,000 employees • More than 300 international energy
and energy services companies
Energy Corridor Top Employers
• Wood Group/Mustang Eng. – 8,500 • BP America – 7,400 • ConocoPhillips – 3,500 • Shell Oil Co. Woodcreek – 3,000 • Sysco Corporation – 1,800
More than 3,500 Hotel Rooms
• Omni Westside Hotel – 400 • Crowne Plaza Houston West – 349 • Embassy Suites Energy Corridor – 290 • Marriott Park 10 – 206 • Hilton Garden Inn – 190 • Courtyard by Marriott - 176
The Energy Corridor – A High Quality Place
• Live, work and play here • Affordable and convenient housing • More than 50-miles of trails • Over 26,000 acres of parks • Quality Schools
2010 Popula'on – 177,626
• Male – 87,347 • Female – 90,279 • Avg. age – 35 years old • Avg. household income - $89,694 • 70% married households • 40% household with children
Well Educated Residents
• 7% Associate’s degree • 31% Bachelor’s degree • 10% Master’s degree
Texas Medical Center West Campus
• The Methodist Hospital • Texas Children’s Hospital • Over 1.1 million square feet • Valued at more than $500,000,000 • 170 – acre campus, Phase II underway
The Energy Corridor
2012 Office Market
75% of existing Office square
footage is Class A
Over 3 million square feet is under
construction or proposed
2012
18.9
0.2
3.1
2012 Office Buildings in Millions of Square Feet
Planned
Under Construction
Existing
22.1
2012
14.2
4.1
0.6
2012 Existing Office Buildings by Class
in Millions of Square Feet
Class C
Class B
Class A
18.9
Energy Corridor Commercial
Office/Mixed Use Industrial/Warehouse
Retail
20.3
2.6 2.9
33.6
2.4 3.5
Building Area from Parcel Land Use Analysis in Millions of Square Feet
2012 2030
Energy Corridor Residen'al
Multifamily Condo/Apts
Single Family, Attached
Single Family, Detached
6,986
986 1,834
11,278
1,186 1,808
Number of Units from Parcel Land Use Analysis
2012 2030
Energy Corridor People
Population Employment
21,025
78,206
25,441
128,669
Population and Employment from Parcel Land Use Analysis
2012 2030
2011 Land Use
2030 Land Use
Key Findings
• 2010 Census population was 17,841 • The current population estimate is 21,000
– Projected to grow to 25,000 by 2030 – Housing currently proposed and under construction
could add 1,100 residents to the population • Employment is estimated at 78,000
– Projected to grow to 128,000 by 2030 – Office and Retail currently under construction and
proposed could add 11,250 employees
Key Findings
• Hotels: 25 in Corridor, 3,692 rooms • Office and mixed use space is expected to add 13.3 million
SF by 2030 (65.8% growth) – Adding 44,500 employees
• Retail and Industrial/Warehouse combined are expected to grow by 400,000 SF – Adding 1,000 employees by 2030
Energy Corridor Growth (2001 – 2010)
• 51% increase in population • 64% increase in housing units • 2015 population forecast – 195,009
• 2009 - 13 office buildings • 3.1 million square feet
• 2006-2008 - 14 office buildings • 2.2 million square feet
27 New Office Buildings added over 5 Years
• TMC West • Park 10 • State Hwy 6 • IH 10 Corridor
• Memorial Drive • Eldridge Parkway • Enclave Parkway • Ashford Place • Woodbranch
30 Million Square Feet Office by 2035
Recent Energy Corridor Land Deals
• Park Row Extension • Skanska • Trammell Crow
Park Row Extension – 130 acres
• Bernstein Perwien Companies • H. Wayne Martin • Mecom Trust • Vinchar • Wolff Companies
Skanska (Old Arco Building)
• 21.66 acre site • 250,000 (Office Tower 1) • 250,000 (Office Tower 2) • 250,000 (Office Tower 3)
Trammell Crow
• Energy Centers 3, 4 and 5 • 546,000 square feet (tower one)
7 Million Square Feet New Development
• 1.2 million sf under construction • 1.1 million sf to start in 2012-2013 • 2.2 million sf planned
Top Golf Entertainment
• Behind Sam’s Warehouse • $15 million project • Date-Night alternative • Dinner, bar and golf • Memorial Brook and IH 10
BP Communica'ons Center
• 104,000 square feet • Internet hub for BP worldwide • Under construction
Shell Oil E&P 3 and 4
• 336,000 square feet (3) • 336,000 square feet (4) • Along IH 10 frontage road east of
Dairy Ashford • Under construction
Energy Crossing Two
• Lincoln Properties • 240,000 square feet
Eldridge Oaks Two
• Transwestern • 350,000 square feet • Eldridge at Enclave • On Buffalo Bayou Terry Hershey Park
Energy Tower 3
• Mac Haik Properties • Twin to Energy Tower 2 • 428,000 square feet • Under Construction
Woodbranch 1 and 2
• 175,000 square feet (Bldg. 1) • 200,000 square feet (Bldg. 2) • Stena/PM Realty
Energy Corridor Livable Centers Study
Addicks P&R and BP WestLake Commons
• 400 future hotel rooms • 500,000 sf future retail • 900 units future multi-family • 2.7 million sf future office
The Bridge to WestLake Commons
I�10Westbound
I�10Eastbound
~�5752 @�4%�slope ~�5752 @�4%�slope
8Big�Roo
m>Ro
ad
BersteinPerw
ienStreet
Park�and�Ride
Existing�ManagedLanes,�PotentialRail�Location
192262*
*On�an�interstate�highway�the�minimum�clearance�is�19�feet.�This would�also�work�for�the�lightrail�vehicles�as�the�current�METRO�red�line�requires�17�feet.�Commuter�rail�requires�262 as�shown�in�the�diagram,�however�the�clearance�of�Highway�6�over�I�10�is�only�172.�If�the�bridge�was�lowered�to�a�192 clearance�then�the�approach�ramps�could�be�1752 shorter,�however�both�Big�Room�Road�and�Berstein Perwien Street�underpasses�would�have�to�be�further�lowered.
The�steel�beams�would�be�approximately�5�feet�thick.
For�the�ramps,�4%�grades�would�be�the�maximum.�
Elevation
Plan
Feed
er
Feed
er
Tenant�space�within�bridge
Plaza
302122242122
302
Energy�Corridor�livable�CentersLivable�Center�Massing�Study
Energy Corridor Traffic Solu'ons
IH 10 Reconstruc'on Project 2005 -‐ 2008
IH 10 Traffic Signal Improvements – 2012
Energy Corridor Commu'ng Op'ons
SOV
80%
Bike
2%
Transit
3%
Carpool
10%
Walk
1%
Telework
4%
Source: Urban Trans
Car Share Coming in 2013
Reserve Access Drive
Shared-‐ride to work Car Share for errands
Bicycle Friendly District
• Education – Bike to Work • Trails and sidewalks • Pedestrian amenities • Bicyclist amenities
Future IH10 Pedestrian Enhancements
75 Eldridge Crosstown Bus Route
Eldridge Parkway Improvements -‐ 2012
Grisby Square Streetscape -‐ 2013
West Houston Community Vision
West Houston Transit Concept
West Houston Trails Master Plan
West Houston Regional Parks
• Bear Creek Park • Cullen Park • Bush Park • Terry Hershey Park
The Energy Corridor Trail Network
• Terry Hershey Park Trail (11) • Barker Dam Trail (4.5) • Bush Park Shared-Use Trail (7) • BP/ExxonMobil Pathway (1) • West Houston Trail (2) • Terry Hershey Extension (2.5) • Addicks Dam Trail (2.25) • Cullen Park Trail (4) • Cullen Park Trail Extension (2) • Adjoining MUDs (14-miles)
What else is going on that you know of?
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14701 St. Mary's Lane, Suite 290 Houston, Texas 77079 Phone: (281) 759-3800