4 Things to Know About the Houston Energy Corridor
The Greater Houston area has seen tremendous growth over the past couple of years. In fact, the area and a few that surround it have seen the largest population gains of any metro area, according to estimates by the U.S. Census Bureau.
From July 2020 to July 2021, Houston’s population grew by more than 69,000 people. That put the total population at more than 7,206,840, with the one-year growth rate coming in at 1%.
Part of the reason for Houston’s growth is because of the presence of the Energy Corridor.
The following are things to know, including some of the major employers in Houston’s Energy Corridor.
1. What is the Energy Corridor?
Houston’s Energy Corridor is a business district. It’s in the Greater Houston metro and it’s on the west side of the city’s metro area, located between Beltway 8 and the Grand Parkway. The district spans for seven miles along the Katy Freeway, running from Kirkwood Road west to Barker Cypress Road.
Parts of this district share boundaries with the Memorial area of the city. The district is north of Westchase, another one of Houston’s major business districts.
Surrounding the Energy Corridor are more than 26,000 acres of urban park space, including Bear Creek Pioneers Park and George Bush Park.
The history of the Energy Corridor goes back to the 1970s when energy industry companies moved to the area to find land for suburban campuses and proximity to housing developments.
2. The Economy
The Energy Corridor historically has one of the strongest office markets in the Houston metro. The district is the region’s second-largest centre of employment. There are more than 94,000 employees and more than 300 companies that call the district home.
The Energy Corridor is home to global and regional headquarters for the world’s largest energy companies. These companies include BP, Shell, ConocoPhillips, and Citgo.
Other organisations and companies with a presence in the district include The University of Texas MD Anderson Cancer Centre, McDermott International, Enbridge, and S&B Engineers and Constructors.
Gulf States Toyota, Sysco Corporation, and Cardinal Health Care are non-energy companies that have moved their headquarters to the Energy Corridor.
Around 75% of the 19 million square feet of office space are Class A. It’s anticipated that by as soon as 2030, there will be more than 45 million square feet of office and mixed-use space, meaning that, essentially, the Energy Corridor is expected to double in size.
The Energy Corridor is the second-largest employment centre in the region, and the workforce is highly educated, relatively speaking.
3. Real Estate
There are plenty of commuters who don’t live near the Energy Corridor but go for work. However, if someone wants to be closer to their office, there are a lot of housing choices in this part of Houston. If you’re looking for a single-family home, condo, or apartment, there are numerous options. The property values in the area have gone up tremendously over the past 15 years or so.
There are older homes, like bungalows, although they’re relatively hard to come by. There are also a lot of town home and apartment developments, like Grayco Apartments.
There are custom-built communities with premium homes like Parkway Villages and Terraces on Memorial.
For someone who’s thinking about moving to the Energy Corridor, perhaps because work is bringing them there if they have a family, the school zones are among the best in Texas.
As an example, Bush Elementary is part of the Energy Corridor, and it’s ranked as one of the state’s best schools.
There are also private schools, like Memorial Private High School.
The British International School of Houston opened its doors in 2016 to serve the large population of British ex-pats in the area.
The average rate of high school graduates in the Energy Corridor is 92%, which is well above the national average.
Finally, while the Energy Corridor has a reputation for being all about business, there are also amenities in the area.
For example, there are a lot of restaurants and even golf options. For example, Top Golf opened in the Energy Corridor. There are a lot of outdoor activities, and the METRO is public transportation that you can use to get around the district.
The METRO is spread out well and provides transportation to around two-thirds of employees who live in a commuting zone.
The district also has two general aviation airports, with some describing it as a little city within a big city.