Future of. The Energy Corridor
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1 Future of The Energy Corridor D a v i d W. H i g h t o w e r E x e c u t i v e V P a n d C h i e f D e v e l o p m e n t O f f i c e r, W o l f f C o m p a n i e s P r e s i d e n t, T h e E n e r g y C o r r i d o r D i s t r i c t
2 The Energy Corridor Source: The Energy Corridor Management District. 2
3 Greater West Houston The Energy Corridor, City Centre/Memorial City, Westchase and Westway Park make up the Central Business District (CBD) of Greater West Houston. All four areas are within five minutes of the intersection of I-10 and Beltway 8. Westway Park Source: West Houston Association and Wolff Companies. 3
4 Population West Houston is now almost ten times larger than it was in Today, if it were incorporated into its own city, West Houston would be the fifth largest city in the United States ahead of Philadelphia, Phoenix or Dallas. By 2025, the epicenter of the Houston metropolitan region is projected to be I-10 and Barker Cypress West Houston Population (In millions; ) Source: U. S. Bureau of the Census for CDS Market Research for forecasts. West Houston Association. 4
5 Employment In 2015, West Houston had 30 times more jobs than it had in The CBD of West Houston is now the largest employment center in the metropolitan area! 1,200 West Houston Employment (In 000; 1990 to 2050) 1, Source: U. S. Bureau of the Census for CDS Market Research for forecasts. West Houston Association. 5
6 Major Employers in The Energy Corridor The Energy Corridor is home to major employers, such as BP, Conoco Phillips, Shell, WoodGroup Mustang, Sysco, Gulf States Toyota, Methodist Hospital and Texas Children s Hospital. All companies shown below have more than 1,000 employees. 6
7 Energy Corridor 30-Minute Commute Area The energy in The Energy Corridor is not fossil fuels, it is people! Within 30 minutes of The Energy Corridor are 37.5% of the population 39.3% of the households 39.7% of employed persons in the Houston MSA. 7
8 Architects and Engineers This area also includes 50% of all Houston Architects and Engineers. Source: PCensus for ArcView, Nielsen Demographics
9 Business and Financial Professionals As well as 51% of all business and financial professionals. Source: PCensus for ArcView, Nielsen Demographics
10 Information Technology Professionals And 51% of all information technology professionals. Source: PCensus for ArcView, Nielsen Demographics
11 Net Office Absorption From 2012 to 2015, West Houston had net absorption of 7.3M square feet, 36% of all office space absorbed in Houston. In contrast, Downtown had negative net absorption of -900K. 6,000,000 5,000,000 Net Office Absorption ,400,725 4,000,000 3,000,000 2,555,391 2,590,168 3,055,427 3,629,943 2,000,000 1,714,599 1,743,821 1,000, , , , ,000,000 (26,419) -2,000,000-3,000,000 (1,767,530) Downtown West Houston Rest of Houston Source: The CoStar Office Report: Houston Office Market Year-End
12 Companies Continue to Locate in GWH West Houston now has over 56 million square feet of office space. Recent moves to West Houston include Air Liquide (597K), BASF (110K), Linde (50K), First Service Credit Union (50K) and Siemens (29K). Shell also recently completed 672K of new office space where they have consolidated operations from downtown and other locations. GWH Office Space I n s q u a r e feet, ,329,241 47,991,828 52,050,072 56,076,451 42,704,238 44,448,059 47,503,486 48,294,532 3,625,003 3,543,769 4,546,586 7,781, Q Q Q Q Vacant SF Occupied SF Source: The Co-Star Office Report Year End Includes sub-lease space. 12
13 Residential Options Continue to Grow Single and multi-family residential options continue to expand in GWH, including the Heights at Park Row, which opened in Wolff Companies Central Park in
14 Healthcare Continues to Expand In Texas Medical Center West Campus, Methodist and Texas Children s Hospital are expanding. By 2017, they will have over 1.5 million square feet, representing a $760 million investment. Later this year, MD Anderson will break ground on a 175K square foot diagnostic center in Wolff Companies Central Park. 14
15 Major Infrastructure is Being Implemented Investments continue to be made to improve mobility and access in The Energy Corridor. Park Row Extension Project The Energy Corridor Circulator 15
16 The Future of the Energy Corridor 16
17 Market Research Presentations For copies of this presentation, please go to or David Hightower at For copies of The Energy Corridor 2016 Land Use and Demographics Report, please go to 17
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