CDC to Kick Off Phase One of Multi-Billion-Dollar Community in Houston
By Amalia Otet, Associate Editor
CDC Houston Inc., a subsidiary of Coventry Development Corp. of New York, unveiled plans for phase one of Springwoods Village, a $10 billion, 1,800-acre mixed-use community in Spring, just south of The Woodlands and 20 miles north of downtown Houston.
Springwoods Village Town Center will include approximately 250 luxury apartment homes; a full-service hotel; office space in a variety of configurations; and as much as 100,000 square feet of retail space. Construction is slated to begin in early 2014. Development partners include Fein, Woodbine Development Corp. and the Patrinely Group L.L.C.
The Town Center was designed as a fully integrated mixed-use environment and incorporates a variety of sustainability features and green practices, including use of eco-friendly materials; preservation of natural ecosystems; building energy-smart new homes; and providing a walkable mix of retail, dining, offices and public amenities in an effort to reduce residents’ dependence on cars.
“Town Center will be the heart and soul of Springwoods Village because it will be where people go to eat, play, meet and relax,” said Keith Simon, executive vice president of CDC, in a statement. “We will create a space that invites people to enjoy the beautiful Town Lake and plaza, whether they are taking a lunch break, dining out for dinner or shopping.”
CDC Houston will join forces with Patrinely Group and USAA Real Estate Co. to develop a series of Class A office buildings.
All of the office buildings that front Lake Plaza Drive and Main Street will incorporate retail into the ground floors and will potentially total more than 1 million square feet of space.
Fein plans to break ground on a 250-unit high-end apartment complex with ground-floor retail along Lake Plaza Drive. Construction is expected to begin early in 2014. Fein is currently working on another apartment property in Springwoods Village, the 342-unit Belvedere on Holzwarth Road.
Woodbine Development will undertake construction of a full-service hotel with significant meeting/event space on Town Lake, along the southern edge of the Town Center plaza. The hotel brand will be announced late in 2013.
Construction is currently underway on Southwestern Energy’s new headquarters. To be located on a 25.6-acre tract along the eastern edge of Town Lake, the new building will house more than 1,000 employees currently working at five separate locations. Patrinely expects to complete construction of the 515,000-square-foot facility in late 2014.
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