investment opportunities - Brays Oaks Management District

INVESTMENT OPPORTUNITIES
In the Brays Oaks District
BOARD OF DIRECTORS
C. Fred Meyer, Chairman
Elaine Gaskamp, Secretary
Cindy Chapman
Greg Glenn
Etan Mirwis
Steve Moore
CONTACT US
George N’wanguma
Brays Oaks
Management District
Mehmet Okumus
10103 Fondren, Suite 300
Houston, TX 77096
(713) 595-1221
Starla Turnbo
Adam Weiss
Cary Yates
www.BraysOaksMD.org
Executive Director
David Hawes
(713) 595-1209
[email protected]
Director of Economic Development
RAY LAWRENCE
(713) 595-1235
[email protected]
INVESTMENT OPPORTUNITIES
IN THE BRAYS OAKS DISTRICT
WHO WE ARE
The District was created in 2005 by the Texas legislature and expanded in 2011. It covers approximately 15 square miles and is strategically located inside the Sam Houston Parkway and
U.S. 59 in Southwest Houston. It has an excellent network of arterial streets and METRO bus
routes. Services are provided to the community in accordance with a new 15-year Service Plan
that is financed by a $0.10/$100 ad valorem tax assessment on all commercial property.
The Brays Oaks District is governed by an 11-member all volunteer board of directors consisting
of commercial property owners and civic leaders in the District. The District is administered by
a 5-person staff headed by an executive director. Programs and activities to support the District
and its assessment payers are developed by four committees made up of board members, staff
and community volunteers.
AVERAGE DRIVE TIME
FROM BRAYS OAKS
MEMORIAL
CITY
ENERGY
CORRIDOR
21 min.
23 min.
WESTCHASE
15 min.
DOWNTOWN
GREENWAY
UPTOWN PLAZA
GALLERIA 16 min.
22 min.
13 min.
MEDICAL
CENTER
21 min.
BRAYS OAKS
DISTRICT
HOBBY
26 min.
SUGAR
LAND
20 min.
PEARLAND
28 min.
0
1
2 Mi
AUG 2011
LOCATION ADVANTAGES
IN THE BRAYS OAKS DISTRICT
Prime location inside Beltway 8.
Excellent access to the principal employment centers
of the Texas Medical Center, Downtown, Uptown/Galleria and Sugar Land via Main Street, the 610 Loop
and Highway 59.
Access to Hobby and Intercontinental Airports and
the Port of Houston via Beltway 8.
SFR DEVELOPMENTS IN BRAYS OAKS (EXPANDED)
Improved safety and security with a new police
substation and District-supported constables and
mobile cameras. Result: The BOMD is ranked in Top
10 among all Houston areas in terms of lowest crime
rate per 100,000 populations.
LARKWOOD
77074
77036
BONHAM ACRES
BRAEBURN VALLEY
BRAEBURN PLAZA TH
77096
Low county and school taxes compared to nearby
Fort Bend County suburbs.
BOB WHITE
MAPLEWOOD
WEST
BRAEBURN VALLEY
In the path of Houston’s urbanization trend aided by
City Council adoption of new Chapter 42 development guidelines permitting higher density for new
development inside Beltway 8.
BRAEBURN VALLEY WEST
FONDREN SW NORTHFIELD
WESTBRAE COURT
FONDREN SW-N.BR
WESTBRAE VILLAGE
WESTBRAE
GARDENS
NORT
NORTHFIELD #4 P/H
WEST BELFORT P/H
VILLAGES OF GLENSHIRE
BRAEBURN GARDENS
77031
SOUTH MEADOW
P/H
LAKES OF
FONDREN
FRONTENAC
GESSPORT PH
FONDREN PARK
0.25
77477
0.5
Subdivision, City of Houston, 2008
HCAD, July 2011
1 Miles
77489
SOUTHWOO
PLACE T/H
NORTHFIELD
BRAES PARK
WEST PLACE
WEST FONDREN
PLACE
GLENSHIRE
Strong homeowner association leadership in single
family subdivisions.
BRAYS BAYOU/HWY 90A
77071
GLENSHIRE
0
NORTHFIEL
GLENSHIRE P/H
Excellent private schools and several HISD charter
schools.
Vacant properties still available along with a wide
variety of retail and office space.
BRAES
TIMBERS
BRAEBURN GLEN
Excellent values in terms of location and quality of
neighborhoods available to home buyers.
District beautification efforts with grass, flowers,
trees and shrubs planted and maintained in 75 esplanades on primary streets.
BRAES BEND
OLD CHATHAM/S
SOUTH MEADOW
FONDREN GLEN PLAZA
THE MARKET
The Brays Oaks District has a population of
approximately 100,000 with over 35,000
households comparable in size to the cities of
Beaumont, Tyler, Waco or Midland. Although
the District lies completely within the City of
Houston and is a mature area, it continues to
grow in population and numbers of households.
The basic fabric of the District consists of
42 single-family middle class subdivisions.
Although the District is in general a mature area,
there are still properties in the District available
for single-family development.
Population and Households – Brays Oaks District
2010 Census
2012 Estimate 2017 Projected
Source:
ESRI
Population96,51398,371104,881
Households 35,18535,91238,018
Avg. HH Size2.732.722.75
Owner Occ. Homes
15,239
15,206
16,436
Avg. HH Income$55,194$62,514
Although the District has a number of retail
centers, free standing stores and restaurants,
they do not fulfill the needs of the District’s
households. In particular, residents of the
predominately middle-class subdivisions find
that in order to find the brands of merchandise
and dining options they desire, they must
drive outside of the District. In short, there is
substantial retail and restaurant leakage from
the District. This represents sales potential for
quality stores and restaurants seeking new
business locations.
77401
MAPLEWOOD / FLAKE EST.
SOUTHWEST FWY/BRAYS BAYOU M/R
Unmet Retail and Restaurant Demand (2010) BRAEBURN
TERRACE
WOOD
BRAES
TIMBERS
ROBINDELL
77096
MAPLEWOOD SOUTH
BOB WHITE
NORTHBROOK
WESTBURY
EN SW-N.BROOK VILLAGE
NORTHBROOK
VILLAGE
PARKWEST/WESTBURY
WESTBURY
$ Millions
Supply
$10.6
16.9 23.0
55.4
24.3
14.2
2.6
101.8
0.1
1.4
19.9
Leakage
$15.2
3.7
4.0
81.2
1.0
19.3
7.3
5.3
0.8
2.1
32.5
Source: ESRI
NORTHBROOK P/H
PARKWEST
NORTHFIELD P/H
Demand
Furniture & Home Furnishings
$25.8
Electronics & Appliances
20.6
Bldg., Garden Equip.
27.0
Food & Beverage Stores
136.5
Health & Personal Care
25.3
Clothing & Accessories
33.5
Sporting Goods, Hobby, Books & Music
9.9
General Merchandise
107.1
Florists
0.9
Office Supplies, Stationery & Gifts 3.5
Full Service Restaurants
52.3
WESTBURY
SOUTHWOOD PLACE
SOUTHWOOD
PLACE T/H
FONDREN GREEN
77035
FONDREN SW PLACE T/H
SUMMERWIND T/H
CHATHAM/SOUTHWOOD CT
SOUTHWOOD CT
STONE'S THROW
WESTBURY SW
WESTBURY SOUTH
77085
Brays Oaks District, July 2011
The table above demonstrates that there is a real
opportunity for name grocery stores, full service
restaurants, clothing and clothing accessories stores,
furniture and furnishings stores and other outlets in the
District. Information pertaining to improved and vacant
properties available for sale or for lease in the District can
be obtained from the director of economic development.
FUTURE PROJECTS
IN THE BRAYS OAKS DISTRICT
This is an exciting time in the Brays Oaks District
because there are a number of future projects
near to mid-term that promise to stimulate
economic activity and retail traffic in the District.
Houston Community College (HCC) will soon have a campus
within Brays Oaks District. HCC is acquiring a 19 acre building
site at West Bellfort and Riceville Road for a new Workforce
Development Center. Possible programs to be offered at the
new facility include a Center for Construction Trades, Center for
Manufacturing, Center for Information Technology and Center
for Health-Related Programs.
Westbury Christian School has recently acquired the former
Westview YMCA property on Fondren where it will build a new
athletic complex.
Houston Baptist University just north of the District entered the
Southland Conference in football in 2013 and is planning to add
substantially to its athletic facilities including a new football
stadium. HBU also plans to construct new graduate school
facilities and housing.
The Willow Waterhole Greenspace Conservancy has been awarded a Harris County grant of $400,000 to help fund improvements
and amenities at its park site on the east side of the District. The award will be administered by the Houston Parks & Recreation
Department.
The Levitt Foundation and Levitt Pavilions has selected the Willow Waterhole as its Houston area site for an outdoor
entertainment pavilion that will offer 50 top name, family music events per year. The Pavilions organization will fund the first five
years of operating costs up to $1,500,000 per year. Capital costs estimated at $14 million will be underwritten by a local branch of
the Foundation, the City and other entities.
Following completion of a Parks Master Plan funded by the District, the District is raising matching funds to support several parks
and hike-and-bike trails along waterways in the District.
WILLOW WATERHOLE
GREENWAY PARK
Demographic Profile
Total Population, 2010
14,973
116,679
235,009
366,661
Within One Mile
One to Three Miles
Three to Five Miles
Total
Race and Ethnicity (0 to 5 mile radii)
164,106
108,934
25,560
68,061
366,661
White
Black
Asian
All Other Races
Total
44.8%
29.7%
7.0%
18.5%
143,982 39% of Hispanic Origin
(any Race)
Population By Age (0 to 5 mile radii)
0-4
5-9
10 - 14
15 - 19
20 - 24
25 - 34
35 - 44
45 - 54
55 - 64
65 - 74
75 - 84
85 plus
31,023
28,540
25,884
25,994
27,660
60,383
51,079
48,020
36,749
17,292
9,565
4,472
8.5%
7.8%
7.1%
7.1%
7.5%
16.5%
13.9%
13.1%
10.0%
4.7%
2.6%
1.2%
Median Age: 32.2
Income Profile
Households by Income, 2011
(0 to 5 mile radii)
Less than $15,000 20,014
$ 15,000 - 24,999 16,366
$ 25,000 - 34,999 16,384
$ 35,000 - 49,999 20,249
$ 50,000 - 74,999 22,078
$ 75,000 - 99,999 13,212
$ 100,000 -149,999 13,183
$ 150,000 -199,999 4,771
$ 200,000 plus
6,553
Total Households 132,810
15.1%
12.3%
12.3%
15.2%
16.6%
9.9%
9.9%
3.6%
4.9%
$ 43,984 Median Household Income
$ 66,614 Average Household Income
$ 24,103 Per Capita Income
City of Houston
$ 41,232 Median Household Income
$ 62,380 Average Household Income
$ 23,771 Per Capita Income
Willow Waterhole
www.braysoaksmd.org
HHC LLP 10/4/2012
0.5 Mi
Build Alternative 1 and 1a
Build Alternative 2 and 2a
RA
District Boundary
S B
ES
O
W
OD
B LVD
Transit Center
METRORail Red Line
Campus Site(s)
RD
WY
PK
ND
BE
ST
RD
5T
H
FO
W
Y
C H A S EW O
I
1 Miles
DE
PEN
DE NC E
B LVD F UQUA
ST
OD
DR
32 ac.
SB
W
26 ac.
90
IN
MA
170
ST
47
RSON RD
8 W
13 ac.
W OREM DR
Y DA SCHOOL RD
ALME
FORT BEND PKW
PK
N
0.5
Missouri
City
ST
W FUQUA
HILLCROFT ST
S
W AIRPORT BLVD
BUFFALO SPEEDWAY
XA
49
163
68
TO L L R OAD
A UT H OR IT Y
90A
1,500 foot radii
HIRAM CLARKE RD
US
A LM
ED A
FONDREN RD
S POST OAK RD
N
Missouri City
TE
ST
RD
ST
HILLCROFT ST
FONDREN RD
S GESSNER
RICEVILLE SCHOOL RD
ALLU M RD
32 ac.
NS
REED RD
Houston METRO is completing plans
to build a connector to its Main Street
light rail line to Fort Bend County
VD
AIRPORT BL
by way of the South Main/Highway
90A Corridor. Preliminary plans call
for two and possibly three stations
along the south edge of the District.
13 ac.
IN
RD
FELDMAN
90
MA
AV
E
ES
FANNIN
LM
HO
W AIRPORT BLVD
CR
W BELLFORT ST
WILLOWBEND BLVD
26 ac.
0
S IH 610 W
Missouri City
CREEKBEN D DR
39 ac.
N B RAES W O OD
Park and Ride
D
BLV
S
Proposed Rail Station
STELLA LINK RD
W. Airport-Fondren Alternative
10
59
US
S
ON
KIRBY DR
T
SS
BI
CHIMNEY ROCK RD
RENWICK
T SRAIL CORRIDOR
US 90A / SOUTHWEST
NE
59
H6
0
N
WI
Shopping Mall
S RICE AVE
Willow Waterhole Greenway Park
M
"
)
Sources:
ESRI Business Analyst Online, 2011-12
US Census Bureau, 2010
Proposed Site For Levitt Pavilion
ROCKW ELL BLVD
!
H
ALMEDA GENOA RD
N
ANDE
Potential
Rail Station
TO L L R OAD
A UT H OR IT Y
W OREM DR
Routes: 47, 49, 68, 163, 170
S BW 8 E
www.braysoaksmd.org
HHC LLP 6/26/2012
Brays Oaks
Management District
10103 Fondren, Suite 300
Houston, TX 77096
(713) 595-1221
www.BraysOaksMD.org
@BraysOaksMD Facebook.com/BraysOaksManagementDistrict