Woodlands development conference attracts nearly 1,000

"I don't know any economic development professional that wouldn't love to have relocation numbers in the thousands," he said.

One of the most discussed topics during the forum was the success of commercial development, particularly in the oil and gas industry, in The Woodlands and the rapid pace with which companies are leasing office space.

"The Woodlands is becoming the next energy corridor with the relocation of Newfield Exploration, Talisman, Anadarko [expansion], ExxonMobil and many other companies that are currently looking here," Parsley said.

According to Staley, the Class A office space vacancy rate in The Woodlands is at 2 percent.

Parsley said that 3 Waterway Square Place, located at the corner of Lake Robbins Drive and Woodloch Forest Drive, is 80 percent leased even before the foundation for the building has been poured. The building was initially set to have eight stories, but strong demand in leasing office space in the building dictated that an additional three stories be added. Nexeo Solutions and Waste Connections will operate in the new building, Parsley said.

Reynolds discussed retail development in The Woodlands and said plans are in the works for a grocery store-anchored village center to be constructed in the Village of Creekside Park.

"There will be more announcements on that later this summer," Reynolds said.

An additional two anchors could soon be opening in The Woodlands Mall, Reynolds said, as well as a "club store" along the I-45 corridor.

He also said there have been early discussions for a potential relocation of Cinemark's Tinseltown movie theater along Lake Robbins so that Waterway Avenue can be extended through to connect to The Woodlands Mall.

Even though The Woodlands has been in development for more than 35 years and features seven villages, Leverett said more development is on the horizon and The Woodlands is not close to build out.

"Are we at the end, or are we finished?" Leverett said. "We are nowhere close."

He said The Woodlands still has approximately 960 acres of commercial land remaining to be developed. That could include as many as 5,900 apartment units, 5.7 million square of office space, 4.2 million square feet of retail and 1,000 additional hotel rooms. Leverett also said there is still 1,250 acres of residential space to be developed, enough room for 4,200 homes.

"There is a lot of activity for a long time left here in The Woodlands," Leverett said.