The Reserve at Shadow Creek Ranch
Despite the speculation of the nation headed for a recession, Pearland, Texas is bucking that trend. In the past 18 months, this suburban town south of Houston has seen a significant change in the retail arena with projects headlining national retailers. The projects range from a Target anchored shopping center to a newly developed mall by CBL, which will include Macy's, Dillard's and a wide array of mall tenants.
Crosswell Greenwood Commercial Development has now announced the largest and one of the most substantial components to the growth of Pearland with the development of a 155 acre project named The Reserve at Shadow Creek Ranch. The catalysts for this mixed use development are a 12 acre site for Memorial Hermann Hospital and a 10 acre site for Kelsey-Seybold Clinic. Both anchors recently closed on their respective parcels late December. To add further to the new dynamic of The Reserve is the soon to be announced construction of a new frontage road along Highway 288. The anticipated completion date of the frontage road is expected to be February 2009, according to Pearland officials.
The facility for Memorial, the largest hospital system in the Houston area, is expected to add a range of 320 - 500 professional jobs to the community once the hospital reaches maximum capacity. Memorial Hermann serves the greater Houston community through 14 hospitals and many specialty programs and services, including three premiere Heart & Vascular Institutes, Memorial Hermann/TIRR and Children'sMemorial Hermann Hospital, the Roger Clemens Institute for Sports Medicine & Human Performance, the Mischer Neuroscience Institute, seven comprehensive cancer centers, 27 sports medicine and rehabilitation centers, a substance abuse treatment center and dozens of other specialty and outpatient centers. Memorial Hermann Hospital has 19,000 dedicated employees and their 4,000 medical staff physicians.
Kelsey-Seybold, Houston'smost renowned and largest private multi-physicians group, plans on having a cumulative 120,000 square foot of facilities for a variety of medical services. This organization is made up of more than 300 highly qualified physicians and 1,800 employees. With its unique network of 18 clinics, Kelsey-Seybold Clinic cares for local families as. Kelsey-Seybold's management company is also affiliated with the St. Luke'sEpiscopal Health System.
The significance of Memorial Hermann and Kelsey-Seybold is the addition of professional wage earning jobs brought to the area. Despite the fact Pearland already has a median household income in excess of $90,000, such employers should only add further to the wealth of the community. The remainder of the fully developed site has received interest from a variety of users including office developers, national big box retailers, hotel and restaurant pad users.
The City of Pearland has benefited greatly with the addition of several nearly completed new housing developments, namely the 3,500 acre master planned community of Shadow Creek Ranch. The close proximity of Pearland to such downtown Houston employers such as the Texas Medical Center and the energy sector corporations, are also significant contributors to the spurred growth.