In The News
CNBC Features ECD’s Clark Martinson on “Power Lunch” Segment about Oil Prices and Houston’s Economy02/20/2015
One of the top business shows on cable television sent co-anchor Brian Sullivan to Houston recently where he interviewed Clark Martinson, general manager of The Energy Corridor District, about the price of oil and its potential impact on Houston’s incredible growth.
As a backdrop for Martinson’s interview, Sullivan and the CNBC news crew used Trammel Crow’s Energy Center 3 on Eldridge Parkway during a brisk and bustling morning. The construction going on in the background, said Martinson, represented some of the 5.5 million square feet of offices being built in The Energy Corridor, 65 percent of which is already pre-leased.
Martinson told Sullivan that the existing 22 million square feet of offices in The Energy Corridor are 90 percent occupied. He added that when the new buildings come on line, employment in The Energy Corridor is expected to grow from 91,000 to 100,000.
Then the CNBC team headed over to the Heights at Park Row, a multi-family community being built on the newly extended Park Row – part of the 5,400 apartment units now under construction in The Energy Corridor.
Later the same day, Sullivan went downtown to interview City of Houston Mayor Annise Parker.
CNBC came to Houston – where the NAPE oil and gas marketplace conference was underway – to explore the impact of falling crude prices on a city which in 2014 outpaced all other American towns for major construction projects.