The Houston submarket of Baytown is expected to see the completion of roughly $30 billion of construction projects in the next two years, with a number of sectors playing their part. However, construction activity within the oil and petrochemical sector is a major reason for the area's construction boom. At its Cedar Bayou plant, Exxon Mobil Corp. and Chevron Phillips Chemical Co. are underway on a $6 billion plant expansion. The groups are building chemical crackers to process polyethylene from natural gas. In response to this plant expansion a number of logistics firms are developing new warehouse spaces nearby. The plant expansion is on schedule to begin producing ethylene by mid-2017 and an additional plant expansion could be in the works. Last month, Air Products broke ground on a $350 million steam methane reformer plant in Baytown. The plant will be constructed at Covestro's Baytown facility, which currently employs 1,100. The plant is slated to open in 2019. ...
- For a city of roughly 80,000 Baytown has a significant volume of construction underway.
- One multifamily developer recently backed away from a large mixed-use project in Baytown.
- Most of the projects completed in Baytown during the next two years will be delivered in 2017.
Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel