The Crossing at Telfair
Transcription
The Crossing at Telfair
The Crossing at Telfair Quick Facts & Data Demographic Information Population 2010 Census Houston, Sugar Land, Baytown MSA Fort Bend County Sugar Land 5,946,800 585,375 78,817 610,898 81,638 2011 2016 Median HH Income Fort Bend County Households Median Income Per Capita Income Sugar Land Households Median Income Per Capita Income 195,639 $77,248 $31,459 27,617 $94,642 $40,064 2011 Population 3 Miles Highway & US 90 A 2011 68,139 2016 738,270 96,482 237,712 $83,921 $35,794 32,900 $101,859 $46,064 5 Miles 209,382 Commercial Inventory & Vacancy Statistics June 2012 Office Retail Inventory 7,441,613 SF 7,660,662 SF Vacancy 15.8% 5.3% Traffic Counts Highway 6 & US 90 A 75,000 CPD US 90 A & Easton Avenue 51,000 CPD Highway 6 & University Boulevard 48,000 CPD *Does not inlcude Highway 6 overpass traffic counts. 02/2013 Fort Bend County Facts • No.1 Fastest Growing County of the Ten Largest Counties in Texas • Current Population (2010 Census) of 585,375 and closing in fast on 600,000 • Consistently Ranked in the Top 3% of the Nation’s Counties in 5 Key Demographic Measures. • Regional Leadership in Secondary Education; Exceptionally Educated and Skilled Resident Workforce. • A Leading Example of Successful Diversity in the Community and in the Workplace. • 40.40% of the Fort Bend County Population is College Educated Top 10 Largest Non-Public Sector Employers in Fort Bend County By Number of Employees 1 2 3 4 5 Fluor Corporation Schlumberger Technology Corp Methodist Hospital - Sugar Land United Parcel Service Oak Bend Medical Center 2,100 2,100 1,409 924 688 6 7 8 9 10 Nalco Company Texas Instruments St. Luke’s Hospital - Sugar Land Frito-Lay, Inc. Baker Hughes, Inc. 580 500 500 469 450 City of Sugar Land Facts • City of Sugar Land is Located 20 Miles from the CBD • Drive time to CBD from Sugar Land is 25 minutes • Home to 14 Fortune 500 Companies • AAA Bond rating from S&P and Fitch • Major Highways (59, 90A & 6) allow for direct links to other business hubs such as the Galleria, Greenway Plaza, Westchase and Energy Corridor • Sugar Land Regional Airport was ranked as Top 5 FBO’s in North America. Provides international flight capabilities as US Customs is located on-site. • Over 55% of the work force located within the City of Sugar Land have a BA or higher. Top 10 Largest Non-Public Sector Employers in Sugar Land By Number of Employees 1 2 3 4 Fluor Corporation* Schlumberger Technology Corp Methodist Hospital - Sugar Land Nalco Energy Services* 5 St. Luke’s Hospital - Sugar Land* * Fortune 500 Company 2,100 2,100 1,409 580 6 7 8 9 Baker Hughes, Inc.* Memorial Hermann Tramontina USA Fairfield Nodal 450 450 380 375 500 10 National Oilwell Varco* 350 02/2013 The Crossing at Telfair Demographic Break Down Retail Sales Volume 1-mi. 3-mi. Children/Infant Clothing Stores $471,330 Jewelry Stores $293,672 Mens Clothing Stores $647,026 Shoes Stores $676,740 Womens Clothing Stores $1,053,216 Automobile Dealers $6,692,959 Automobile Parts/Acc/Repair Stores $900,275 Other Motor Vehicle dealers $319,123 Tire Dealers $219,214 Hardware Stores $419,195 Home Centers $1,019,225 Nursery/Garden Centers $229,681 Outdoor Power Equipment $57,477 Paint/Wallpaper Stores $27,659 Appliance/TV/Other Electronics Stores $731,998 Camera/Photographic Supplies Stores $127,535 Computer/Software Stores $344,754 Beer/Wine/Liquor Stores $528,657 Convenience/Specialty Foods $1,729,915 Restaurant Expenditures $10,488,799 Supermarket/ Other Grocery excl Conv $5,486,828 Furniture Stores $723,650 Home Furnishings Stores $576,754 Gen Merch/Appliance/Furniture Stores $6,705,643 Gasoline Stations w/Convenience Stores $5,450,607 Other Gasoline Stations $3,720,692 Department Stores excl Leased Depts $7,437,640 General Merchandise Stores $5,981,993 Other Health/personal Care Stores $442,705 Pharmacies/Drug Stores $2,539,543 Pet/Pet Supplies Stores $382,808 Book/Periodical/Music Stores $80,255 Hobby/Toy/Game Stores $71,018 Musical Instrument/Supplies Stores $62,270 Sewing/Needlework/Piece Goods Stores $26,371 Sporting Goods Stores $679,503 Video Tape Stores $59,414 Total $67,406,144 5-mi. $12,568,283 $8,548,545 $17,642,570 $17,437,512 $29,278,375 $191,910,663 $25,106,341 $8,358,782 $6,479,211 $7,964,557 $23,815,561 $6,824,150 $1,845,155 $733,244 $20,245,187 $3,365,368 $9,427,738 $13,818,791 $44,858,149 $213,513,824 $145,073,012 $20,018,051 $14,812,358 $181,979,543 $141,370,124 $96,511,976 $202,224,732 $161,961,495 $12,459,338 $68,204,405 $9,957,559 $2,638,676 $2,086,609 $1,763,876 $662,875 $16,406,704 $1,636,783 $1,743,510,122 $35,506,989 $24,521,431 $50,120,577 $49,121,408 $83,985,771 $561,385,252 $72,216,513 $23,613,921 $18,791,806 $20,807,187 $67,281,841 $19,820,288 $5,762,246 $2,155,759 $57,531,829 $9,587,958 $27,213,816 $38,906,803 $106,925,059 $527,243,056 $414,183,115 $57,468,751 $41,387,054 $519,690,213 $378,127,745 $271,202,686 $577,222,047 $462,221,464 $36,299,966 $195,494,771 $28,431,797 $7,531,454 $7,168,794 $5,109,582 $1,844,349 $43,930,328 $4,686,925 $4,854,500,551 The Crossing at Telfair Demographic Break Down Income 1-mi. 2011 Median Household Income 2011 Per Capita Income 2011 Average Household Income Housing 3-mi. $102,925 $36,689 $96,703 1-mi. 2000 Total Housing Units 2000 Occupied Housing Units 2000 Owner Occupied Housing Units 2000 Renter Occupied Housing Units 2000 Vacant Housing Units Population 5-mi. $101,303 $36,764 $110,089 3-mi. 948 897 563 334 51 1-mi. $93,072 $32,801 $101,597 5-mi. 17,967 17,297 14,107 3,187 673 3-mi. 47,849 45,919 36,672 9,246 1,931 5-mi. 2011 Male Population 2011 Female Population 2011 Adult Population 2011 Total Daytime Population 2011 Total Daytime Work Population 2011 Median Age Total Population 2011 Median age Adult Population 1,244 1,396 2,114 14,727 13,230 39 47 34,219 33,920 48,861 87,163 49,159 33 42 105,317 104,065 148,287 206,689 92,073 32 41 2011 White Population 2011 Black Population 2011 Asian/Hawaiian/Pacific Islander 2011 American Indian/Alaska Native 2011 Other Population (Incl 2+ Races) 2011 Hispanic Population 2011 Non-Hispanic Population 1,459 153 926 6 96 191 2,449 34,622 5,463 23,825 160 4,068 8,005 60,134 95,204 29,391 66,272 707 17,810 35,181 174,201 Population Change 2011 Total Population 2011 Total Households % Population Change 1990-2011 % Household Change 1990-2011 1-mi. 3-mi. 2,641 1,002 132.28% 153.03% 5-mi. 68,139 22,755 119.34% 136.00% 209,382 67,600 151.23% 157.92% MAJOR CORPORATIONS IN SUGAR LAND Company Industry Fluor Corporation* Schlumberger Methodist Sugar Land Hospital Nalco Energy Services* St. Luke’s Hospital Baker Hughes* Memorial Hermann Tramontina USA Fairfield Nodal National Oilwell Varco* Money Management International UnitedHealth Group / OptumRx* CSM Bakery Products Minute Maid* Noble Drilling Services, Inc. Yokogawa Ventyx-ABB Sunoco Logistics* Thermo Fisher Scientific* Crown Beverage Packaging* Aetna* Industrial Info Resources Pharmedium Heavy Construction Systems Specialists G.E. Oil and Gas* Team Industrial AmerisourceBergen* Sabic Americas Avnet* CVR Energy* TimeGate Engineering / Procurement / Construction Oilfield Services / Technology Hospitals Petrochemicals Hospitals Specialty Polymers Hospitals Manufacturing / Kitchen Wares Seismic Data Systems Oil Field Equipment (Whls) Financial Services Pharmacy Call Center Food Manufacturing Office / Corp HQ (Food / Drink) Offshore Drilling Process Control Equipment Computer Peripherals Manufacturing Petroleum/Gas Transportion Controlling Instruments Manufacturing Container Manufacturing Call Center Consulting Services Pharmaceutial Compounding Software Development Oilfield Services / Technology Oilfield Services / Technology Medical Distribution Center Chemical Research & Development Electronics Distribution Corp HQ / Refining Software Development Employees 2,100 2,100 1,400 580 500 450 450 380 375 350 331 330 288 278 270 265 230 220 180 160 140 130 130 126 110 80 60 60 50 50 50 * Fortune 500 company City of Sugar Land Office of Economic Development 2700 Town Center Blvd. N. | Sugar Land, TX 77479 | [email protected] | 281-275-2229 Houston-Sugar Land-Baytown MSA by Occupation (May 2011) Sugar Land’s Workforce City of Sugar Land Fort Bend County HoustonSugar LandBaytown MSA Educational Attainment * Masters, Professional or Doctorate Degree 20.8% 13.8% 9.6% Bachelor's Degree 33.5% 26.6% 18.8% Labor Force ** Unemployment Rate 5.1% 6.2% 6.9% Number Unemployed 2,186 18,970 209,282 Available Workers 42,450 305,948 3,036,360 Total Employed 40,264 286,978 2,827,078 Income * Households 26,709 167,620 2,072,625 Median Household Income $101,611 $79,845 $55,207 Per Capita Income $41,897 $32,016 $27,653 * Source: U.S. Census, 2006-2010, 5-Year ACS Estimates ** Source: Texas Workforce Commission, May 2012 Occupation All Occupations Architecture and Engineering Arts, Design, Entertainment, Sports and Media Building and Grounds Cleaning and Maintenance Business and Financial Community and Social Service Computer and Mathematical Construction and Extraction Education, Training and Library Farming, Fishing and Forestry Food Preparation and Serving Healthcare Practitioners and Technical Healthcare Support Installation, Maintenance and Repair Legal Life Physical and Social Science Management Office and Administrative Support Personal Care and Service Production Protective Service Sales and Related Transportation and Material Moving Workers Annual Wages 2,551,550 77,820 $47,490 $95,310 23,830 $45,150 72,010 $22,240 109,600 21,120 64,920 151,780 166,500 1,320 205,560 129,930 60,500 114,490 18,180 25,310 132,150 423,800 66,700 175,330 61,570 272,150 176,980 $73,710 $47,190 $80,000 $40,100 $52,080 $24,610 $20,080 $73,260 $26,970 $43,080 $116,040 $80,670 $115,850 $34,840 $21,750 $37,830 $37,210 $40,040 $35,580 Source: U.S. Bureau of Labor Statistics, May 2011 City of Sugar Land Office of Economic Development 2700 Town Center Blvd. N. | Sugar Land, TX 77479 | [email protected] | 281-275-2229 THE ADVISORY JANUARY 10, 2013 The Top-Selling Master-Planned Communities of 2012 Home sales at the nation’s top master-planned communities (MPCs) were the strongest since 2007. Every year since 1994, RCLCO has conducted a national survey identifying the top-selling MPCs, followed by indepth interviews among the top 20 to reveal the trends behind the numbers. Sales in the top 20 are over 37% higher in 2012 than in 2011, due in part to strong gains in communities located in states hit hard by the housing bust—including Nevada, Florida, and California—as well as continued strength in Texas. Deepening buyer pools with stronger credit and heightened consumer confidence—trends that began to present themselves in the latter part of 2011—continued throughout 2012, pushing sales at the top 20 communities to nearly 14,300. Beyond improvements in the housing market and the overall economy, MPCs also credit their enhanced sales to buyers’ belief that MPCs are the best place to invest, given the variable quality and level of remaining distress in other locations, allowing MPCs to maintain their strong market share from 2011. Top-Selling MPCs in 2012 To p -S ellin g MP C s of 2012 Rank 2012 Rank 2011 Name Location 2012 Sales 2011 Sales % Change 1 1 The Villages Ocala, Florida 2,851 2,307 24% 2 4 Irvine Ranch Orange County, California 1,436 744 93% 3 2 The Woodlands Houston, Texas 1,007 945 7% 4 3 Cinco Ranch Houston, Texas 982 862 14% 5 7 Mountain’s Edge Las Vegas, Nevada 948 434 118% 6 8 Providence Las Vegas, Nevada 760 421 81% 7 15 Riverstone Houston, Texas 605 302 100% 8 5 Alamo Ranch San Antonio, Texas 583 490 19% 9 9 Lakewood Ranch Sarasota, Florida 573 391 47% 10 14 Nocatee Ponte Vedra, Florida 508 313 62% 11 11 Stapleton Denver, Colorado 507 380 33% 12 25 Summerlin Las Vegas, Nevada 471 221 113% 13 6 Brambleton Washington, D.C. 466 454 3% 14 - Lake Nona Orlando, Florida 441 164 169% 15 13 Bridgeland Houston, Texas 423 334 27% 16 18 Sienna Plantation Houston, Texas 387 267 45% 17 17 Shadow Creek Ranch Houston, Texas 362 277 31% 17 23 FishHawk Ranch Tampa, Florida 362 229 58% 19 - Woodforest Houston, Texas 308 - - 20 10 Telfair Houston, Texas 307 381 -19% * There were four (4) additional communities that also achieved over 300 sales including Power Ranch (Phoenix), Aliana (Houston), Daybreak (Salt Lake City), and Cross Creek Ranch (Houston). THE ADVISORY PAGE 2 JANUARY 10, 2013 The Villages in Ocala, Florida, once again tops the list of top-selling MPCs, increasing sales by 24% over 2011. While impressive, there are numerous communities in this year’s list showing even stronger percentage gains over 2011 elsewhere in Florida (Lakewood Ranch, Nocatee, Lake Nona, and FishHawk Ranch), as well as in Las Vegas (Mountain’s Edge, Providence, and Summerlin) and Southern California (Irvine Ranch), where sales in top-selling MPCs increased by 47% to over 150%. In addition, Texas communities, which already had relatively strong sales in 2011, saw significant increases in sales and pricing at many communities during a year of robust employment growth and declining lot inventories in maturing MPCs. In Florida, the increase in sales occurred across the state due to improving market fundamentals—improvement in job growth, increased household growth across various market segments, and stronger performance in higher price points. In addition, the high quality of these communities and the introduction of new community and product orientations contributed to enhanced sales paces, which is evident at Lake Nona, Lakewood Ranch, and Nocatee. The introduction of a new active adult community at Lakewood Ranch was one of the critical success factors for the uptick in sales. Rob Adams, Vice President at Lake Nona, attributes their success to the community being a “thoughtfully designed, special place, and people recognize the value of living here. When you couple that with an improved Orlando housing market, a growing on-site employment base, a great school system, and a comprehensive onsite housing offering, we are in a great position for growth.” Across the west, there are several factors contributing to the significant uptick in sales in these high-quality MPCs. First, job growth, though still modest, is accelerating, thereby increasing household formation. Second, investors and first-time homebuyers are increasingly active as they recognize the exceptional affordability of home ownership relative to earlier periods. Lastly, the substantial “shadow inventory” is being reduced in a meaningful way, particularly through the rapid expansion of single-family rental investment programs. In Houston, where new home sales increased by more than 25% overall, mature communities such as The Woodlands and Cinco Ranch experienced less rapid increases than the market as a whole. This is primarily because these communities are not offering as much product diversification as in previous years as they approach buildout, reducing their sales volume in many lower price points while increasing sales (and market share) in largely upper price points. Houston communities with fewer land constraints, however, were able to take full advantage of increased demand across the region, increasing sales over 2011 from 27% (Bridgeland) to 100% (Riverstone). Although demand is up sharply, lot development continues to lag absorption, and lot inventory is at its lowest level in nearly 10 years. Pressure is on MPCs in Houston and in markets across Texas, such as Austin and North Dallas, to deliver more lots as inventories dwindle and mature communities approach buildout. Builders are becoming anxious about their ability to meet increasing demand and are stepping up efforts to self-develop smaller communities to capture increased demand in the absence of new replacement master-planned communities. The ranking of 2012’s top 20 communities is based on total home sales as reported by each individual community. We are currently conducting in-depth interviews with the top performers, and we will highlight and provide analysis of the critical success factors and strategies the top-selling communities employed to boost sales to the highest levels in five years. Key community investments, product innovation, marketing tactics, new business lines, and builder relationships are among the many topics our detailed analysis will explore, which will be published in an upcoming issue of the RCLCO Advisory. Article and Research prepared by Todd LaRue and Pamela Cantrell of RCLCO’s Community and Resort Advisory Group. RCLCO provides real estate economics, strategic planning, management consulting and implementation services to real estate investors, developers, financial institutions, public agencies, and anchor institutions. Our real estate advisors help clients make the best decisions about real estate investment, repositioning, planning and development. RCLCO’s advisory groups provide market driven, analytically based, and financially sound solutions. RCLCO’s Community and Resort Advisory Group produced this newsletter. Interested in learning more about RCLCO’s CRAG? Contact Lori Pagán at [email protected] or 407-515-4998.