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Downtown at a Glance 2020

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Downtown at a Glance 2020 2020 DOWNTOWN AT A GLANCE CENTRAL HOUSTON & DOWNTOWN DISTRICT DOWNTOWN AT A GLANCE 2020 3 Overview 5 Living 13 Office Market & Employment 18 Hospitality, Tourism, Culture & Entertainment 21 Restaurants & Retail 23 Transit *This report is updated annually. Cover: Main Street downtowndistrict.org | 2020 2 DOWNTOWN AT A GLANCE Downtown Houston Overview We saw the gleaming Bank of America Center com- Since its founding, the heart pleted, magnificent new hotels open such as the C. Baldwin and the historic Cambria and the reimagining of Houston has faced its of Bagby Street commence which runs past the front lawn and fountains of our City Hall. challenges and celebrated But we also encountered social justice debates, economic hardships and an energy crash to boot. A its triumphs. One backward world-wide pandemic no one expected hit us quickly with outcomes that we know will continue to impact us glance and 2020 is such a for some time to come. With that being said, we believe in our future. We year characterized by many see resilience in the face of adversity, new openness to the experiences of others and tremendous innovation of both. by business owners—both large and small—as they find success despite today’s challenges. And as we safely come back, we will once again see our office lobbies abuzz, our coffee houses full of rich aromas and lively chatter, our concert halls shin- 168,618 ing and our sports teams winning. Downtown hotels jobs will glitter with celebration and our conference rooms and convention center will host important business 1.84 meetings and global gatherings. Houston has always square miles been a city of can-do and what-if. We endeavor, we pioneer, we progress. downtowndistrict.org | 2020 3 DOWNTOWN OVERVIEW 486% 20-YEAR population growth 2000 2,085 2010 3,021 2020 10,142 2000 2010 2020 Key Facts HOSPITALITY, TOURISM, LIVING CULTURE & ENTERTAINMENT Greater Downtown (2 mile radius) Hotel Rooms 8,228 Household Population 68,756 Hotel Room Occupancy 31% Residents with a Bachelor’s Degree or Higher 51% (YTD January–June 2020 and 65% in 2019) Downtown Core Average Daily Room Rate $192 Residential Units 6,279 Revenue per available room (RevPAR) $59 (YTD January–June 2020 and $121 in 2019) Housing Units Under Construction & Planned 1,773 Theatre District Seating Capacity 13,000 Average Class A Monthly Rental Rate $2,140 Theater Performance Attendance 800,000 Average Home Sale Price $364,335 Convention Center Attendance 700,000 Transit Score 99 Convention Square Footage 1.9 million Bike Score 83 Major Sports/Concert Venue Capacity 150,000 Walk Score 92 Schools & Universities 8 OFFICE MARKET & EMPLOYMENT Higher Education Enrollment 16,799 Office Square Footage 51.4 million TRANSIT Class A Inventory 69% Office Occupancy (Class A) 79.30% Annual Houston Airports Passenger Traffic Gross Asking Rent Per SF (Class A) $39.79 2018 58 million Innovation hubs, Co-working & 512,603 2019 59.7 million Collaborative Spaces (SF) Average Weekday Metro Transit Ridership 84,165 Fortune 500 Companies (total) 20 (Bus & Light Rail) Fortune 500 Companies (Headquarters) 10 Source is email from Jim Archer ([email protected]) Total Wage & Salary Jobs (2019) 168,618 RESTAURANTS & RETAIL Retailers 400+ downtowndistrict.org | 2020 4 DOWNTOWN AT A GLANCE Downtown Living QUICK FACTS Greater Downtown (2-mile radius) 68,756 Household Population 51% Percent Bachelor’s Degree or Higher Downtown Core 10,142 Household Population Discovery Green 6,279 Downtown residents are located at the Housing Units Occupied 1,773 epicenter of activity, steps away from Housing Units Under Houston’s best entertainment, dining and Construction/Planned award-winning park spaces. $2,140 Average Apartment Rental Rate With nearly 6,300 residential and construction include the mid-rise multi- multifamily units, nearly 1,200 under family project, The Regalia at the Ballpark, construction, and another 579 planned, containing 229 units, and the luxury $2.35 residents have a variety of options to 46-story high rise developed by Hines, Rental Rate ($/SF/Month) call home, ranging from historical to The Preston, which will be Downtown contemporary, mid to high-rise luxury Houston’s tallest residential building 99 apartments and condos to quirky lofts. featuring 373 units set for completion in Transit Score Downtown has experienced exponential 2022. Most recently, ground was broken growth in residential development and this summer on a 43-story apartment continues to attract significant invest- tower to be located at 808 Crawford St., 83 ments due to market demand. adjacent to Discovery Green, expected Bike Score The most recent project expected to to also deliver in 2022. The tower will be completed includes 271 units within include 309 multifamily units includ- 92 the Camden Downtown which opened ing 16 two-story townhome-style units Walk Score in early-March. Other projects now under and four two-story penthouses. This downtowndistrict.org | 2020 5 DOWNTOWN LIVING Downtown’s robust project will be Downtown’s only luxury enjoy the Downtown tranquil setting high-rise offering direct access to provided by more than 10 parks includ- walkability score means Downtown Houston’s 6.5-mile skywalk/ ing the newly transformed Buffalo Bayou tunnel system. Park and Discovery Green—named one residents are only Downtown attracts a variety of family of America’s Great Places 2019 by the minutes away from households, from young professionals American Planning Association—with and ex-suburbanite empty nesters, to another neighborhood park under con- dining at their favorite small families and students in search struction located on the 1500 block of of a vibrant urban lifestyle, and those Fannin Street set to open late fall of 2021. restaurant, attending a seeking proximity to their jobs, pedes- Complemented by a robust pedes- trian-friendly lifestyles and quality-of-life trian infrastructure including bike lanes concert or sports event, amenities. Downtown’s central location and sidewalks, make for a green com- or taking their dog for a and well-developed public transit system munity where individuals and families provide easy access to top employers can enjoy a high quality of life and work. walk in the park. and businesses, the city’s major airports Hike, bike or kayak along Buffalo Bayou; and sports and entertainment venues. attend a fitness class at Discovery Downtown’s walkability—with a score Green or play Bingo at Market Square of 92 making it the Houston region’s Park; enjoy Downtown’s giant holiday highest—means that residents are only block party, Thing-A-Ma-Jingle on Main minutes away from dining at more than Street, or watch a Broadway show, 400 of their favorite restaurants, attend- ballet production or jazz concert in the ing a concert at nine major performing Theater District. Residents never have a arts venues or sports events at Minute dull moment. Maid Park and Toyota Center. Residents Camden Downtown downtowndistrict.org | 2020 6 DOWNTOWN LIVING Demographics Greater Downtown (2 mile radius) 78,965 57% 34 Total Population Family Households Median Age 68,756 36% 9,856 Household Household Number of Children Population Population Growth [0–18 years] 2000–2019 32,898 2.09 41% Number of Average Millennials Households [22–39 years] Household Size Downtown’s two mile radius has a young population; 48% of the population is between 25-44 years-old. downtowndistrict.org | 2020 7 DOWNTOWN LIVING Demographics Greater Downtown (2 mile radius) POPULATION BY AGE Under 5 years 2% 5 to 9 years 4% 10 to 14 years 3% 15 to 17 years 5% 18 to 24 years 8% 25 to 34 years 29% 35 to 44 years 19% 45 to 54 years 11% 55 to 64 years 9% 65 to 74 years 7% 75 to 84 years 2% 85+ years 1% POPULATION BY SEX POPULATION BY RACE 1.8%.4% 5.1% .1%.3% 44% 21.8% 39.2% 56% 31.8% White Two or more races Female Hispanic/Latino Other Race Male Black/African American Indian/Alaskan Asian Native Hawaiian/ Pacific Islander downtowndistrict.org | 2020 8 DOWNTOWN LIVING Income & Education Greater Downtown (2-mile radius) $105,175 64% Average Household Income Household Income > $50,000 With a difference of nearly $25,000, Downtown Compared to 51% of households in the City households have significantly higher average of Houston, almost two-thirds of Downtown income levels than households in the City of households have annual incomes exceeding Houston, which average $81,217 and the U.S. $50,000. 51% of Downtown households have average of $82,416 annually. incomes of $75,000 or more, compared to 32% in Houston and the U.S. average of 41%. $364,335 $2.35 Average Home Price Average Rent per Square Feet Home prices in the Downtown core average Rental rates in the Downtown core average $365,335 or $192 per SF compared to $249,900 $2,140 or $2.35 per SF compared to $1,056 or $114 per SF in the City of Houston. or $1.20 per SF in the City of Houston. 72.9% 51% Some College Degree or Higher Bachelor’s Degree or Higher More then two in three adults Downtown More than half of Downtown residents hold have completed some college (including an a bachelor’s degree or higher, compared to associate’s degree) or hold a bachelor’s degree 29% in the City of Houston and 27% in the U.S. or higher, compared to 53% in all of Houston and the national average of 59%. downtowndistrict.org | 2020 9 DOWNTOWN LIVING Income & Education Greater Downtown (2 mile radius) HOUSING TENURE HOUSEHOLD INCOME 31% $200,000 or higher 12% $125,000 – $199,000 15% $75,000 – $124,999 21% $50,000 – $74,999 13% Less than $49,999 39% 69% Renter Occupied Owner Occupied
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