1. Retail developments bring new business to Cy-Fair
What we reported Major retail developments broke ground in 2016, several of which are tied to master-planned communities in the area, including Bridgeland, Towne Lake, Cypress Creek Lakes, Fairfield and Miramesa. The Boardwalk at Towne Lake celebrated a grand opening on Barker Cypress Road in summer 2016, and construction on the Fairfield Towne Center reached a milestone when Phase 1 was completed in November off Hwy. 290.
The latest Construction on several projects is underway, including Miramesa Town Center off Fry Road and Phase 2 of Fairfield Town Center. Several critical tenants and popular restaurants were signed at the end of 2016 and beginning of 2017, including Old Navy, Marshalls and Party City in Fairfield; Pizza Cucinova in Bridgeland’s Lakeland Village Center; and Taisho Japanese Grill in Towne Lake.
What’s next Construction is expected to be completed this year on both the Miramesa Town Center and Phase 2 of the Fairfield Town Center. For the centers where construction is completed, including the Lakeland Village Center and the Boardwalk, more tenants are expected to be announced as officials continue to lease the remaining space.
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Oil and gas companies in the Northwest Houston area, including Baker Hughes, had to cut jobs during the downturn.[/caption]
2. Oil and gas downturn recovery begins
What we reported Greater Houston area employers cut 1 in 7 jobs across oil-related industries after the price of oil dropped from $105 per barrel in June 2014 to $35-$40 per barrel in December 2015, according to the Greater Houston Partnership. However, energy industry experts expect the oil industry to stabilize in early 2017.










