As we close out 2014, we see so many variables in flux concerning the newest transformations happening across the Southeast region of Texas, and particularly in Montgomery County, and in all corners of the county. Construction is happening everywhere. Buildings are going up. The Grand Texas Theme Park, located on the east side of the county at 59 and 242, is slated to open in 2015. In the south quadrant of the county, the second Anadarko tower, called the Anadarko Hackett Tower, has recently been finished. Just a little further south of the county line Southwest Energy’s building has been completed. Also just south of the Montgomery County line, the current construction on the Exxon/Mobile campus, the Grand Parkway, and the new master-plan community Springwoods Village shouts the truth that the influx of families moving to the north reaches of Houston for jobs is nothing short of substantial. In the west corner of the county, Montgomery and Magnolia continue to grow housing developments, many of which feature acreage sites for those interested in building their custom home a little ways out from the urban sprawl. To the north, the communities surrounding Lake Conroe continue to thrive.Of all the ongoing developments bustling about the corners of the county, 2015 will also see a blossoming of new commerce and communities right in the center of Montgomery county. The former Camp Strake property is about to be transformed. The Boy Scouts of America end their tenure on the Camp Strake grounds with the closing of 2014. Now that 2015 has arrived, progress can begin on what has been called “one of the largest tracts of land within greater Houston.” Rumors about what intentions developers have in mind for this massive piece of property have enjoyed much public speculation, but we can be sure that plans will include a master-plan community , and very possibly a baseball complex for a Triple-A baseball club that the Astros have been looking to acquire. 2015 will likely include the full fleshing-out of what may come of this new development.
2015: Growth in Spite of Temporary Recession
Juxtaposed against the boom is the projected recession, which has already begun to hit the area as a result of the fantastic success of the newest technologies in fracking. The proof of this is at the pump: as oil prices plummet with the sharp rise in surplus, this will translate into some layoffs and quite possibly some slowdowns in some of the ongoing developments. But the overall business-friendly environment of Texas will be a wonderful buffer to weather what is expected to be a temporary slump. In October the Urban Land Institute recognized the Houston area to be top rated market for real estate investors in the whole country.
A Proactive Business Environment
The reason there is so much confidence, unimpeded by the oil price slump, is because Houston is not merely growing out of the soil of oil. Its commerce is fed by growth in the medical industries, educational industries, and the development of a multitude of other technologies of companies who are thriving in the business-friendly environs of the state.
Also in 2015, the Urban Land Institute’s 2015 ULI Spring Meeting is going to be held right here in Houston this coming May. If you are interested in exploring further the prospects of investing in commercial or residential property anywhere in this region, this might be an excellent resource for you. If you would like to cut to the chase, give Lauri Kent a call.
