SH 288 Toll Lanes
Total Page:16
File Type:pdf, Size:1020Kb
Houston Pearland Shadow Creek Ranch Pomona Sedona Lakes 2,000 Lots 900 Lots COUNTY ROAD 58 New Hope Church Rodeo Palms 1,750 Lots PROPOSED MANVEL PARKWAY 800 Acres 288 CONNECTOR 1 . 5 M I L E S SITE O F 267.7 Acres F R Allied Commercial O 111.7 Acres N T A G E S E N A SITE L L L 13.8 Acres O T on Highway 6 E R U T U F +/- 267.7 AND +/-13.8 ACRES ON S.H. 288 HOUSTON, TEXAS OFFER PROCESS Exclusive Representation ARA has been exclusively retained to represent the seller in the disposition of 267.73 acres on State Highway 288 and 13.8182 acres on Highway 6. All inquiries about the properties should be directed to ARA. Offer Requirements Offers should be presented in the form of a non-binding Letter of Intent, and must include: Pricing Due Diligence and Closing Timeframe Earnest Money Deposit Description of Debt/Equity Structure Qualifications to Close Development Plans Purchase terms shall require cash to be paid at closing. Offers should be delivered to the attention of Tim Dosch, David Marshall, Tom Dosch, or Clark Dalton via fax or email. Due Diligence Information To access the due diligence information please visit the property website at: arausa.listinglab.com/TX288Hwy6LandSites Contacts Tim Dosch David Marshall Tom Dosch Clark Dalton Principal Principal Principal Associate [email protected] [email protected] [email protected] [email protected] O 713-955-3127 O 713-955-3126 O 713-955-3125 O 713-955-3122 M 713-459-8123 M 713-206-1574 M 713-557-4455 M 832-449-2223 CONTENTS PROPERTY INFORMATION 4 Property Summary 4 Assemblage Opportunity 6 Houston Market Overview 8 Drive Times to Central Houston 9 Drive Times to Employment Centers 10 Nearby Residential Development 11 Property Access (267.7 Acres) 12 267.7 Acres Conceptual Land Plan 14 13.8 Acres Conceptual Land Plan 15 AREA HIGHLIGHTS 16 S.H. 288 Toll Lanes 16 Pearland 17 Texas Medical Center 18 NRG Park 20 Hobby Airport - International Expansion 21 Port of Houston Area 22 Houston Central Business District 24 NEWS ARTICLES 26 County, region top U.S. in population gains 26 Houston - Picking up the pace 27 Boom times on the bay 28 Housing boom spreads south 30 Sedona Lakes 31 APPENDIX 32 Information on Brokerage Relationships 32 Disclaimer 32 Property Summary Property Information Acres: +/- 267.73 Acres +/- 13.8182 Acres Access & Frontage Approx. 1.5 Miles on S.H. 288 Approx. 600 feet on Highway 6 Utilities Brazoria County MUD #43 Can be annexed into Brazoria County MUD #43 School Zone Alvin ISD Alvin ISD Not in the floodplain Floodplain Partially in the floodplain No wetlands Surveys and additional due diligence information available at arausa.listinglab.com/TX288Hwy6LandSites. COUNTY ROAD 58 S E N A L L L O T E R U T U Proposed 288 access is one mile from F the end of the initial S.H. 288 Toll Road project, which ends at C.R. 58 and is expected to be complete in 2017. 288 CONNECTOR SITE +/- 267.7 Acres PROPOSED MANVEL PARKWAY Planned access road to Highway 6 - see concept plan on page 15 SITE +/- 13.8 Acres 4 Property Overview Property Summary Last large tract with extensive frontage on the S.H. 288 Corridor between Beltway 8 and Highway 6 › 267.7-acre tract features 1.5 miles of frontage on S.H. 288 › 13.8-acre tract provides additional frontage on Highway 6 Proposed S.H. 288 Toll Lanes will dramatically shorten commutes › Initial proposed toll lanes will extend from US-59 to C.R. 58; unofficial estimated completion in 2017 › Ultimate toll lane project will extend toll lanes from C.R. 58 to C.R. 60 › Interchanges at the Texas Medical Center and potentially I-610 › Two toll lanes in each direction within the existing S.H. 288 median Booming single family development immediately north of the properties › Over 9,000 lots completed, under development, or planned within three miles of the properties › Fastest drive times to Central Houston of all suburban development hotspots (see map on page 9) Taxing Authority 2014 Tax Rate City of Manvel 0.587863 Brazoria County Drainage District #4 0.156000 Brazoria County Emergency District #3 0.098322 Brazoria County 0.432020 Alvin Community College 0.199756 Road & Bridge Fund 0.060000 Alvin ISD 1.329100 Total 2.863061 Demographics 0-1 Mile 0-3 Miles 0-5 Miles 2014 Est. Population 1,464 21,662 77,029 Est. Population Growth 2014-2019 18.61% 14.96% 14.43% 2014 Est. Average Household Income $95,093 $103,284 $110,592 2014 Est. Median All Owner-Occupied Housing Values $168,736 $189,844 $203,005 Property Overview 5 Assemblage opportunity › Also available: +/- 600 acres adjoining the 267.7-acre subject property › The 13.8-acre subject property could provide the adjoining +/-600-acre tract with access to Highway 6 COUNTY ROAD 58 S E N A L L L O T E R U T U Proposed 288 access is one mile from F the end of the initial S.H. 288 Toll Road project, which ends at C.R. 58 and is expected to be complete in 2017. 288 CONNECTOR SITE +/- 267.7 Acres Available +/-600 Acres PROPOSED MANVEL PARKWAY Planned access road to Highway 6 - see concept plan on page 15 SITE +/- 13.8 Acres 6 Property Overview Assemblage Opportunity 13.8 Acres Available +/- 600 Acres +/- 267.7 Acres 288 CONNECTOR* FUTURE TOLL LANES MANVEL PARKWAY* ON/OFF RAMPS C.R. 58 / CROIX RD *Proposed alignments of Manvel Parkway and 288 Connector Property Overview 7 Houston Market Overview Strong Job Growth Houston has seen phenomenal growth in recent years and 2013 was no exception. The Houston MSA has been a national leader in job creation adding 240,000 jobs since 2010, with over 80,000 of the jobs created in 2013. Houston has historically been an energy driven economy and the same held true for 2013. The three sectors with the most jobs gained were mining and logging, construction, and manufacturing. The mining and logging sector (primarily oil & gas) experienced the strongest job growth with 5.8%. In addition to the superb job growth experienced over the last two years, economists are expecting Houston to continue a similar trend over the next three years. Moody’s projects 423,500 jobs will be created in Houston from 2011-2016. Experts predict between 80,000 and 90,000 jobs are projected for 2014. With the combination of consistent and future job growth, Houston will be a top destination for investors in 2014. Source: U.S. Labor Bureau of Statistics August 2014 UPDATE Excerpt from the Greater Houston Partnership The Houston-Sugar Land-Baytown Metro Area created 112,200 jobs in the 12 months ending July ’14, according to the Texas Workforce Commission. Since the bottom of the recession, the metro area has added 420,000 net new jobs, or 273.1 percent of the 153,800 jobs lost during the recession. Houston’s 112,200 jobs equates to a 4.0 percent annual growth rate. Population Growth Spurs Development Due to the strong job growth, many individuals are making Houston their home. The Houston MSA population reached 6.2 million residents in 2012, increasing 31.0% since 2000 and leading all other major US metro markets. Houston was crowned the top destination for young professionals and in U-Haul’s National Migration Report, Houston was the top city for personal relocations. In addition to the strong population growth seen over the past ten years, Houston is expected to add 490,228 individuals (ranked #4 of US MSA’s) in the next five years. Another report, released by the Manhattan Institute, highlights Houston as the largest city in one of the nation’s leading growth corridors. The report cites Houston and Dallas as having a higher rate of international immigration than Chicago, Washington, and Philadelphia. 8 Property Overview Drive Times to Central Houston THE WOODLANDS KINGWOOD CYPRESS 33 MINUTES 31 MINUTES 34 MINUTES KATY 36 MINUTES 31 MINUTES CINCO RANCH 25 MINUTES 26 MINUTES 25 MINUTES SUGAR LAND CLEAR LAKE 23 MINUTES PEARLAND 267.7 ACRES 13.8 ACRES Drive times during non-peak hours. During peak hours, S.H. 288 generally provides faster drive times than other major thoroughfares. S.H. 288 carries over 180,000 vehicles per day and is one of the busiest corridors in Texas. Property Overview 9 Drive Times to Employment Centers Energy Corridor 32 Minutes Central Business District The Galleria 23 Minutes 25 Minutes Greenway Plaza Port of Houston Texas Medical Center 25 Minutes Houston Ship Channel Westchase Business District 21 Minutes 26 Minutes 35 Minutes Hobby Airport 25 Minutes Shadow Creek Ranch Pearland Town Center Pearland 20 Minutes 2 4 3 1 +/- 270 Acres on S.H. 288 13 Acres on Highway 6 6 5 SF Development Lots Developer 1 Lakes of Savannah 3,400 Friendswood Development 2 Pomona 2,000 Hillwood Communities 3 Rodeo Palms 1,750 Clinton Wong 4 Sedona Lakes 900 Marlin Atlantis 5 Lakeland 650 - 6 The Presidio 500 Transwestern TOTAL 9,200 Homebuilders Perry Homes, Newmark Houston, Lennar, Coventry Homes, Cervelle Homes, Darling Homes, J. Patrick, Taylor Morrison, D.R. Horton, and more Avg. Home Values $140,000 - $1,000,000+ Lake Jackson Dow Chemical Company 35 Minutes 10 Property Overview Nearby Residential Development Houston Pearland Shadow Creek Ranch Pomona Sedona Lakes 2,000 Lots 900 Lots COUNTY ROAD 58 New Hope Church Rodeo Palms 1,750 Lots PROPOSED MANVEL PARKWAY 800 Acres 288 CONNECTOR 1 .