Influx Of Development Capital Reshaping East Houston
The immediate area east of Houston is known for the Port of Houston, petrochemical plants and 93M SF of industrial warehouse and distribution space. In recent years the area has seen a $60B boom in development thanks to the low cost of oil.
Research from CBRE shows East Houston population gains are on par with some West Houston suburbs. There are 15 eastern ZIP codes growing faster than the metro average, with a combined population growth rate of 2.5%.
According to forecasts from the Bureau of Labor Statistics, these communities will add 60,400 residents by 2021, with the strongest growth anticipated along the East Beltway near Sheldon and Summerwood.
Retailers are taking note of the expanding demographics on the east side. In Baytown, a new Kroger was just completed and an H-E-B is underway. Greystar opened Ravella at Eastpoint, a 283-unit apartment complex, last year across I-10 from San Jacinto Mall, which is also undergoing a large renovation project.
As business in the area continues to boom, Houston's east side is poised to capture an increasing share of attention from developers and business.