31 Million Square Feet of Office/Mixed-use Space Projected by 2030
An in-depth look at current and future land use, demographics and employment in The Energy Corridor District, with projections extending into 2030, is now online at energycorridor.org.
Findings from the study by CDS Market Research portend a vigorous economic future for The Energy Corridor District (ECD).
The nearly 21 million square feet of office and mixed-use space now in the ECD is expected to swell to 38.4 million square feet within 17 years, according to CDS, a Houston-based marketing research and analysis firm. Three-quarters of the existing space is considered Class A.
Already, 6.5 million square feet of office/mixed-use space is under construction or proposed for the District. A good portion of that is slated along what will soon be the extension of Park Row, a road now being completed by the ECD.
The CDS research report features demographic projections, including a breakdown of where Houston’s engineers live. It also examines current and future parcels, 30-minute drive times, under-construction and proposed buildings – and perhaps the most telling finding, employment forecasts.
Office and retail buildings under construction and proposed, according to CDS, could soon bring 22,000 additional employees to the District, now one of the largest workforce centers along the Gulf Coast. The ECD’s employment base is expected to grow from 84,000 to 147,000 employees by 2013, reports the CDS study.
For an analysis of today’s Energy Corridor District and its economic future, check out the CDS study here.