presentation to association of commercial real estate professionals

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  

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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

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Tenant�space�within�bridge

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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