MARKET HIGHLIGHTS – LEAGUE CITY

League City is a well established and rapidly growing suburb of the greater Houston MSA. Its location provides convenient access to major employers in healthcare, aerospace, specialty chemical, education, and more. The suburb is directly adjacent to NASA’s Johnson Space Center– which houses NASA’s largest R&D facilities and some of the nation’s best high-tech professionals.

Pop.GrowthPairedwithLackofDeliveries

▪ League City has experienced significant population growth – In Amalfi & Sorrento’s zip code, population grew 32.5% in the past decade (ending in 2021). It is the third fastest growing zip code in the area.

▪ In the five-mile radius, there are only two planned apartments that will deliver a total of 450 units between now and 1Q 2025. Assuming the population growth trend in the zip code continues, for every multifamily unit planned (in the 5-mile radius), fourteen people would move in, keeping absorption positive.

NASAJohnsonSpaceCenter

▪ The NASA Johnson Space Center is about a 10-minute drive from Amalfi & Sorrento.

▪ The $1.5BN center has served as a hub of human spaceflight activity for over 50 years. It’s home to the nation’s astronaut corps, the International Space Station mission operations, the Orion Program, and a host of future space developments.

▪ The Space Center consists of 100 buildings on 1,620 acres and employs over 16,000 people.

NewsandHeadlines

▪ Flyway Webster is a 120-acre mixed-use development (5 miles from Amalfi & Sorrento) that is projected for completion in 2024. Will include 1.6MM SF of bars, restaurants, and retail.

▪ Home values over the past five years have increased nearly 46% in League City - this bodes well for apartment demand in the area.

▪ Project 11 is a $1BN expansion plan to widen the Houston ship channel, expected to be completed in 2025.

PortofHouston

▪ The Port of Houston is one of the area’s strongest economic drivers.

▪ The port is approximately 25 miles from Amalfi & Sorrento at Tuscan Lakes.

▪ It is the largest port on the Gulf Coast, ranking 1st in international commerce, and 10th among the largest ports in the world.

New Residents Projected between 2022-2027

Projected Average Rent Growth

Between 2022-2026

$100K+

Household Income is greater than $100,000 within a 1- ,3,and 5-mile radius

11K+ 6.1% 1.4MM

Jobs Generated by the Port of Houston