Press Releases |
Large tract in growing suburb set for development
Houston-based NewQuest Crosswell has broken ground on a 40-acre mixed-use development along State Highway 288 in Shadow Creek Ranch in Pearland. It is the largest contiguous undeveloped property in the area, according to NewQuest.
The project — The Reserve at Shadow Creek Ranch — will include up to 300,000 square feet of office space, a multifamily project and a 110,000-square-foot medical facility being built by AMD Medical. The developer of the multifamily project and how many units it will include was not disclosed.
NewQuest Crosswell secured the property, which totals 200 acres, eight years ago and has been selling tracts to national retailers like Sam's Club along with medical providers like Memorial Hermann Healthcare System and Kelsey-Seybold Clinic. The property fronts State Highway 288 and is about 12 miles south of downtown Houston.
The remaining 40-acre property is the last portion of those 200 acres and is planned to be the most dense. IBC Bank is proving financing for the project. A general contractor has not been named, and architects were not disclosed.
An official groundbreaking date for vertical construction was not given, but the developer said infrastructure has been put in place on the property.
Memorial Hermann is currently building a 230,000-square-foot acute care hospital nearby that will include 64 beds. It is slated to open in December of 2015. And last year, Kelsey-Seybold opened its new 180,000-square-foot corporate campus housing 1,200 employees. It is located about a mile northwest of the Reserve at Shadow Creek Ranch.
