HOUSTON – The Energy Corridor district in west Houston, where job growth is exceptionally strong, is getting new multifamily units.
The latest: a 352-unit apartment complex by Houston-based Hunington Residentialwill be constructed on an eight-acre site in Wolff Companies’ Ten Oaks, an 82-acre mixed-use development in The Energy Corridor.
Extensive office construction and job growth in The Energy Corridor is creating a growing need for upscale multifamily housing in the area. The Corridor is home to more than 92,000 employees, working for more than 300 multinational companies and occupying over 22 million sf of office space. Another 6.4 million sf of Class A space has been recently completed or is under construction, most of which is preleased.
“Our 2014 land use and demographics study projects population growth of more than 8 percent in five years within the 30-minute drive-time area of The Energy Corridor, which now comprises more than 2.2 million people and 800,000 households,” said Clark Martinson, General Manager of The Energy Corridor District. “We need residential housing development in The Energy Corridor, and Hunington Residential’s project helps meet this impending demand.”
“The current office space construction in The Corridor translates into over 25,000 new employees, which creates demand for approximately 5,000 new apartment units,” said David Hightower, Executive Vice President, Wolff Cos.