The Woodlands is expected to continue developing commercial, residential and transportation projects in the coming year despite an energy economy slowdown that could force many of the companies the community covets to tighten their financial belts.

Hughes Landing will see many of its major retail establishments open in 2015. Meanwhile, the Village of Creekside Park will continue to be the focus of new home sales and see the continued development of its village center.

On the mobility front, Woodlands drivers dealt with a multitude of traffic issues in 2014, including lane closures due to pipeline installation and overpass constructions. They can expect more of the same this year as local entities continue to work to improve the worsening vehicle congestion.

Alex Sutton, co-president of The Woodlands Development Company, said interest from businesses in The Woodlands, will remain strong in the coming year despite the economic climate.

"We are going to be cautious, but this isn't the first time we have see [a downturn in the energy economy]," Sutton said. "We know how to manage through difficult times, and what we have found is when the market turns down, people flock to quality [development]."

Economic development

By spring, Woodlands residents could see a multitude of new dining options, as well as a new amenity with the opening of Restaurant Row. The boardwalk-style dining district will feature up to seven new restaurants with Local Pour, Whiskey Cake and Escalante's likely opening this spring, Sutton said.

The Development Company is also negotiating leases with Del Frisco's Grille, Crave American Kitchen and Sushi Bar, California Pizza Kitchen and other similar restaurants.

"There are still a couple of spaces we are looking to fill," Sutton said. "We want to get [Restaurant Row] filled with the right [restaurants] and the right menus to complement the others."

Meanwhile the Village of Creekside Park Village Center will see several businesses open in the coming year, including Fielding's Wood Grill, Crust Pizza Company and many service-oriented businesses.

The Development Company is also continuing construction and planning of its Class A office buildings, including 3 Hughes Landing and 10 Waterway. Sutton said the Development Company hopes to secure a company that will lease significant office space in 10 Waterway before beginning construction.

"That's a big building, and we want to get about 250,000 square feet leased before we start construction," he said.

Along with the Development Company, The Woodlands Area Economic Development Partnership is charged with recruiting new businesses—and retaining existing businesses—to occupy the facilities that are built.

Gil Staley, CEO of the Economic Development Partnership, said despite the perceived economic downturn in the energy industry, which is represented by several major companies headquartered in The Woodlands, local job growth remains strong.

"I anticipate [the number of jobs in The Woodlands] being up," he said. "And that includes health care, where there is a lot of positive growth, and some energy companies. At this point [the energy industry] has not yet been negatively impacted. Six months from now it could change dramatically."

Transportation and mobility

Last year saw significant groundwork laid for improvements to the area's transportation and mobility system. With rapid increases in resident and employee populations, as well as vehicles on the road, both Montgomery County and The Woodlands Township initiated studies that proposed possible solutions to the traffic problem.

This year, the county and township will look to take action on those recommendations. Montgomery County is expected to seek voter approval this spring for a road bond for as much as

$500 million, while the township will look to improve its transit system and initiate a study into implementing cycling lanes throughout the community.

"We have a very active [cycling] community, and a master bike plan would look at the existing thoroughfares in The Woodlands—ones that are practical and ones that are impractical for bike travel," said Bruce Tough, chairman of the township board of directors.

Tough said the township will also likely institute changes to its park and ride system to include new routes into parts of downtown Houston, the Medical Center and Midtown. Transit changes could also include bringing employees from Houston-area locations into The Woodlands for work, which mobility planners refer to as a reverse commute.

"We have more people coming into The Woodlands than we have going out, so there is increased demand for a reverse commute," Tough said.

In addition to changes to the transit system, The Woodlands Road Utility District No. 1 is planning several lane improvements designed to enhance mobility throughout Town Center.

Robert Heineman, vice president of planning for the Development Company, said the most significant transportation project in the works is an overpass at Lake Woodlands Drive and Grogan's Mill Road. Heineman said plans are being designed now for the project, and lane improvements at the intersection are underway.

Two other major transportation projects are expected to wrap up in the early part of the year: the long-delayed widening of Woodlands Parkway, and the Hwy. 242 direct connector project.

The Texas Department of Transportation expects the third westbound lane of Woodlands Parkway, between Grogan's Mill Road and East Panther Creek Drive, to open by Jan. 23. Construction on the two direct connectors at Hwy. 242 and I-45 is expected to be complete in the first quarter of the year, according to PTP Transportation, the company managing the project.

Residential development

Tim Welbes, co-president of The Woodlands Development Company, said real estate market factors, such as lowered interest rates, could positively affect the housing market in The Woodlands. For example, Welbes said buyers who were previously unable to buy homes and who are now living in apartments may find it easier to buy a home in 2015.

"We're so accustomed to seeing an overheated market that when we get back to a normal market, people will say it has slowed," he said.

Welbes said The Woodlands has seen a recent increase in interest from employees of

ExxonMobil, particularly in November and December. While The Woodlands is in the midst of completing its final residential village, Creekside Park, Welbes said there remains about 1,600 to 2,000 homes still to be built.

There is a continued focus on multifamily apartment and condominiums in Town Center, said Paul Layne, executive vice president of master-planned communities for the Howard Hughes Corporation, which owns The Woodlands.

"Our main focus is leasing two apartment complexes, Lake's Edge and Millennium at Six Pines," Layne said.

The Development Company is also considering the development of a high-rise condominium on Waterway Square, adjacent to The Westin, The Woodlands hotel that is under construction.

Sutton said the Development Company is studying the feasibility of the condo tower and has seen strong interest from potential buyers.

"I would like to see something get going on that this year, but I don't know that it will," he said. "We're not going to get ahead of the market."