Imperial - Mixed-use developments rise in Sugar Land, Katy

    Despite suburbs having the reputation of being full of single-family, sprawling homes, Sugar Land and Katy are bucking the stereotype. Mixed-use developments, which incorporate living, retail and more, are moving forward in the two communities.

KDC, a Dallas-based commercial real estate development and investment firm, and Houston-based The Johnson Development Corp. recently announced an agreement to market and develop 55 acres of commercial land in the master-planned community of Imperial, the largest remaining development opportunity in Sugar Land. Financial terms were not disclosed.

   Johnson will also build the first residential neighborhood in the mixed-use development to include 116 patio homes and 27 single and two-story townhomes. Located at Highway 6 and Highway 90A, Imperial will include retail, residential, entertainment and office once it’s fully developed.

   Plans are also moving forward at LaCenterra, a 34-acre mixed-use town center development in the Cinco Ranch area of Katy. The fourth and final phase of the development will break ground in the spring, with a tentative completion date set for the summer of 2015. The project, being developed by Houston-based Vista Equities Group, will include 35,000 square feet of retail space and a five-story, 125,000-square-foot, Class A office building. A contractor has yet to be named.

   Houston-based Martin Fein Interests Ltd. recently announced it will develop The Grand at LaCenterra, a new four-story multifamily development slated to open in the second quarter of 2015. The cost of the project was not disclosed.

   For the original article, click here.

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