{"id":1004154134,"date":"2016-10-02T23:27:59","date_gmt":"2016-10-03T07:27:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004154134"},"modified":"2020-05-14T00:15:36","modified_gmt":"2020-05-14T08:15:36","slug":"major-mixed-use-development-slated-for-houston-suburb","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/major-mixed-use-development-slated-for-houston-suburb\/","title":{"rendered":"Major Development Slated for Houston Suburb"},"content":{"rendered":"<p>By Scott Baltic, Contributing Editor<\/p>\n<div id=\"attachment_1004154135\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Terry-Montesi.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004154135\" data-attachment-id=\"1004154135\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/major-mixed-use-development-slated-for-houston-suburb\/terry-montesi\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Terry-Montesi.jpg\" data-orig-size=\"1000,662\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Terry Montesi\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Terry-Montesi.jpg?w=1000\" class=\"wp-image-1004154135 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Terry-Montesi.jpg\" alt=\"Terry Montesi\" width=\"300\" height=\"199\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Terry-Montesi.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Terry-Montesi.jpg?resize=300,199 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Terry-Montesi.jpg?resize=768,508 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004154135\" class=\"wp-caption-text\">Terry Montesi<\/p><\/div>\n<p><strong>Houston<\/strong>\u2014<a href=\"https:\/\/www.trademarkproperty.com\/\" rel=\"nofollow\" target=\"_blank\">Trademark Property Co.<\/a> has entered into an agreement to develop an 82-acre, <a href=\"https:\/\/www.commercialsearch.com\/news\/mixed-use\/\" target=\"_blank\">mixed-use<\/a> town center on land owned by Westside Ventures at the northwest corner of I-10 and Mason Road in Katy, Texas, Trademark announced Thursday. The greenfield site is part of a 107-acre tract owned by Westside Ventures and will be developed in phases over the coming years.<\/p>\n<p>Planning is underway for the initial 60-acre phase of the as-yet-unnamed project, which will include retail, restaurant, residential (likely multifamily, according to a Trademark spokesperson), hotel and office space.<\/p>\n<p>\u201cThis particular piece of land is \u2026 ideally suited for mixed-use,\u201d John McCormack, CEO of Westside Ventures, said in a prepared statement. \u201cTrademark\u2019s expertise in developing world-class, mixed-use town centers \u2026 [makes] them a perfect partner to develop this property into its full potential.\u201d<\/p>\n<p>\u201cThere is a tremendous retail void in West Houston,\u201d Trademark CEO Terry Montesi said in the statement. \u201cCombined with the compelling housing, population and income demographics, and the site\u2019s adjacency to I-10 and Grand Parkway and the Energy Corridor, this represents a long-term opportunity for Trademark to cultivate a next-generation, best-in-class environment for the West Houston and Katy communities.\u201d<\/p>\n<p>The Katy project\u2019s announcement highlighted potential parallels between this development and Market Street \u2013 The Woodlands, a 570,000-square-foot, 34-acre specialty mixed-use center in The Woodlands (also in metro Houston), which Trademark completed in 2006.<\/p>\n<p>Market Street \u2013 The Woodlands is \u201can environment that we hope to pull inspiration and best practices from and apply them to suit the Katy community,\u201d Montesi told <em><a href=\"https:\/\/www.commercialsearch.com\/news\/\" target=\"_blank\">Commercial Property Executive<\/a><\/em>, though he added, \u201cWe anticipate more overall density on the Katy site than at Market Street.\u201d<\/p>\n<p>The latter center features a numerous upscale tenants, including Tiffany &amp; Co., Michael Kors, Kate Spade, Kendra Scott, Trina Turk, Vineyard Vines, Elaine Turner and Tommy Bahama.<\/p>\n<p>A third-quarter metro Houston report by <a href=\"https:\/\/marcusmillichap.com\/\" rel=\"nofollow\" target=\"_blank\">Marcus &amp; Millichap<\/a> backs up Montesi\u2019s assessment of the retail situation there, calling tenant demand \u201cintense\u201d and describing pre-leasing as \u201crobust\u201d and \u201cvigorous.\u201d Metrowide average retail vacancy, already tight at 5.5 percent, is forecast to decline by 10 basis points year-over-year, even as absorption hits more than 3.3 million square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trademark Property Co. will develop an 82-acre mixed-use town center on land owned by Westside Ventures in Katy, Texas.<\/p>\n","protected":false},"author":882,"featured_media":1004154135,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,1589,21752,21742],"tags":[],"class_list":["post-1004154134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-houston","category-mixed-use","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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