Houston's hottest real estate revealed

Published On: Jan 10 2013 05:48:30 PM CST
Updated On: Jan 10 2013 06:45:51 PM CST

Jan. 10, 2013: Houston's economy is flourishing and the Bayou City is in the middle of building boom, experts say. Andy Cerota reports.

HOUSTON -

Houston's economy is flourishing and the Bayou City is in the middle of building boom, experts said.

According real estate agents, there are particular parts of Houston that are leading the charge in terms of growth.

Houston's energy corridor is considered the fastest-growing commercial real estate market in the entire city. The area is home to more than 300 oil and gas related companies, including Shell and Conoco Phillips and more than 2 million square feet are currently under construction.

It's one of five areas singled out by the Houston Business Journal as real estate hot spots for 2013. The Westchase District, Galleria Area, downtown Houston and the east end round out the list.

Diane Schenke, the president of the Greater East end Management District said, "We credit the availability of acreage and the work we've done over the past three years."

She included the construction of BBVA Compass Stadium and the new light rail line.

Experts said it is great news for people looking for a job or a career change. Employment in Houston is up more than three percent since August 2008, when it peaked right before the recession hit. More than 11,000 new jobs for energy corridor in 2013 are expected alone.

The energy sector accounts for about three percent of the city's workforce.

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