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 | ecodev@sugarlandtx.gov | 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 | ecodev@sugarlandtx.gov | 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 lpagan@rclco.com or 407-515-4998.