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Midtown Redevelopment Authority Prepares to Break Ground on Midtown Park

23 May 2015, 4:35 am

By Liviu Oltean, Associate Editor

Midtown Park Rendering

The Midtown Redevelopment Authority (MRA) and partner Camden Property Trust will break ground next week on Midtown Park, a long-in-the-making mixed-use facility located within the ‘Zone.’

In November 2013, the MRA entered into an agreement with Houston-based Camden to exchange several parcels of land within a six-acre tract bound by McGowen Street to the north, Anita Street to the south, Main Street to the east and Travis Streett to the west. Pursuant to the deal, the MRA retained ownership of a 2.9-acre tract, while Camden took hold of the remaining acres.

Per their agreement, the complex will feature a 2.5-acre public park with amenities and retail components, an eight-story, 315-unit apartment tower; and an underground public parking garage. According to the Houston Business Journal, the MRA will handle the development of the park and the parking garage, while Camden will continue with the development of its $90 million multifamily tower, which broke ground in 2014. Midtown Park has been slated for completion sometime in late 2016.

Image courtesy of the Midtown Redevelopment Authority.



Signorelli Breaks Ground on 1.8 MSF Retail District

14 May 2015, 6:06 am

By Liviu Oltean, Associate Editor

Groundbreaking Ceremony for Valley Ranch Town Center

A tract located at the intersection of US 59 and the Grand Parkway in Porter will soon become a new retail district, if everything goes as planned for The Signorelli Co. The Woodlands-based firm recently broke ground on Valley Ranch Town Center, a 240-acre, 1.8 million-square-foot retail district located within the master-planned community of Valley Ranch.

According to a press statement, the center will be anchored by multiple big-box stores and will also feature a bevy of restaurants, boutique stores, banks, fitness facilities and an entertainment district. The entertainment district will include a multi-attraction cinema and a 10,000-seat amphitheater. The retail center will be bordered by a 135-acre park dubbed The Grove.

“Valley Ranch Town Center is at the epicenter of a market that is rapidly emerging in northwest Houston,” said Danny Signorelli, president & CEO of The Signorelli Co. “It is a very advantageous location for retail development and leasing. It will also provide an added attraction to homebuyers desiring shopping, dining and entertainment close to home.”

The firm was joined at the groundbreaking ceremony by Frank McCrady, president & CEO of the East Montgomery County Improvement District; County Judge Craig Doyal; Commissioner Jim Clark; and former Commissioner Ed Rinehart.



Toll Brothers Unveils New Details for 600-Acre Community in Northwest Houston

8 May 2015, 1:02 pm

By Liviu Oltean, Associate Editor

New details have emerged regarding Toll Brothers’ previously announced 600-acre, master-planned community in northwest Houston. According to a recent press statement, the residential community has been dubbed NorthGrove at Spring Creek and will open for sale in February 2016.

Located southwest of the Woodlands in the Magnolia area, NorthGrove at Spring Creek will be less than five minutes away from the Creekside Park Village Center, the future Tomball Business and Technology Park, the Woodlands Parkway Shopping Center and the ExxonMobil Campus.

Upon completion, the community will include about 850 single-family homes, 40 percent of which are being developed by Toll Brothers. As Commercial Property Executive reported in August 2014, in the first phase, the firm will develop 160 lots ranging between 60 and 85 feet, with home prices starting in the mid-$300s.

“We recently celebrated our 46th anniversary—that’s quite an accomplishment anytime, but especially today. Although the last few years have been marked by economic challenges for so many, we have always been confident that Toll Brothers would remain strong. And it has,” declared Douglas Yearley, the company’s CEO, in Toll Lifestyle Magazine in 2014.



Billionaire Tilman Fertitta Announces Groundbreaking for New Mixed-Use Project

30 Apr 2015, 4:25 am

By Liviu Oltean, Associate Editor

The Post Oak Rendering

Billionaire Tilman Fertitta recently announced that work has started on The Post Oak, a mixed-use, master-planned project located in the Galleria and Uptown area along West Loop South in Houston. The project was designed by Gensler and consists of a 35-story, 650,000-square-foot tower and a 30,000-square-foot ballroom and conference center.

“Tilman is creating a new urban development that will be distinct in Houston,” said Gensler Design Principal Raffael Scasserra. “The Post Oak will not only offer a mix of office, hotel, restaurant and retail spaces, it will also include walkable streets shaded by mature oak trees, access to the surrounding neighborhoods at several entry points, a ballroom the likes of which Houston has never seen and a level of service overall that will set a new standard.”

According to an official press statement, the tower will accommodate 240 luxury hotel rooms, 120,000 square feet of office space, and 22-residential apartment units.

The hotel rooms will vary in size between 500 and 2,000 square feet and will feature amenities such as five-fixture deluxe bathrooms, state-of-the-art audio-visual technology and separate sitting areas. In addition, the hotel will have a 4,000-square-foot presidential suite. Eleven of the 35 floors of the tower have been designed for low-density, Class A office use. Future office tenants will have at their disposal 24-hour catering and room service, a corporate concierge and a separate entrance.



BMW Group Breaks Ground for New Distribution Center

23 Apr 2015, 7:02 pm

By Liviu Oltean, Associate Editor

Galveston Distribution Center Groundbreaking Ceremony

In an effort to better serve BMW and MINI car dealerships across Texas, Oklahoma, Louisiana and Arkansas, BMW Group recently broke ground on a new vehicle distribution center in Galveston, Texas.

According to a press release, the facility will be developed on a 20-acre tract and will consist of two buildings totaling 44,000 square feet. Upon completion, the center will handle distribution and storage, as well as inspections, repairs, accessory installations, vehicle programming and maintenance.

“This project helps the port achieve its mission of being the economic engine for the city of Galveston and the local region. With this new vehicle processing center, we are confident that the activity level for the port will continue to increase, including the creation of new livable-wage jobs. We are pleased that our successful efforts to maintain existing world-class tenants and to attract additional ones continue,” said Port Director Michael Mierzwa.

The facility has been slated to open in early 2016 and will be able to process about 32,500 vehicles each year.

 







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