Fred Caldwell speaks at Waller EDC breakfast

March 23, 2004

The March networking breakfast sponsored by Waller EDC featured a presentation from Fred Caldwell, president of Caldwell Watson Real Estate Group of Houston. Caldwell, who co-founded the group in 1990 with Chuck Watson, Houston Aeros owner and former Dynergy chief executive, heads the company which made the Houston Business Journal list of 2003 “Top 5 Best Places to Work in Houston”.

Caldwell Watson Real Estate Group (CWREG) (www.caldwellwatson.com) develops and manages office buildings, industrial buildings, and residential subdivisions, mainly in the northwest Houston area. They built the Willowchase and Cy-Fair campuses for North Harris Montgomery College, and own or manage over 3 million square feet of industrial and office buildings.

Recently, CWREG has begun investing in the Waller area by purchasing the Houston Oaks Golf & Country Club on Hegar road, and developing the Spring Creek Ranch subdivision on FM 2920.

Caldwell shared several reasons that Waller could look forward to a high growth rate in the coming years.

He said that CWREG surveys show over and over that, by a wide margin, the most important element in a family selecting a place to live is the quality of the school district. This was even true of families who no longer had children at home. He pointed out that a smaller district such as Waller ISD had an advantage in that a higher percentage of students could participate on sports teams and other extra-curricular activities. Caldwell congratulated WISD superintendent Richard McReavy for the high quality of WISD (www.waller.isd.esc4.net) and encouraged everyone to support the district in every way possible to ensure the continuance of a high-quality school district.

It is no secret that the population of the Waller is steadily growing at the highest rate in Waller County, and Caldwell stated that it was very important that Waller build the type of housing that will draw business decision-makers to the area. In talking to businesses who are studying relocation options, he found that often the most important element was where the CEO currently lived, saying “if you draw the CEO to your area, you increase your chances of drawing the business to your area”.

Studies show that 60% of the Houston metropolitan area population is living outside the Beltway, and this has implications for business locations. Caldwell pointed out that this will mean that more and more companies will locate outside the Beltway to be closer to their employees. Traffic studies show that congestion on the US 290 corridor has increased about 35% from 1999-2002. He stated that this, along with the long timeline currently planned for expansion of 290, will actually be an opportunity for Waller in that businesses may decide to locate here if it is more efficient for them to keep employees from being tied up in long commutes.

In summary, Caldwell indicated that Waller was poised for growth and that the keys would be continued excellence from the Waller ISD and provision of high quality housing options.

WEDC Director John Isom thanked Caldwell for sharing his insights with the group and announced that the next networking breakfast would be on April 20 at 7:30 a.m. That meeting will feature a presentation from Dan Seal, economic development consultant with the Greater Houston Partnership.