Sept. 30–Trademark Property Co., developer of Market Street The Woodlands, has been tapped to create a mixed-use town center on a prime parcel in the Katy area.
Locally-based Westside Ventures plans to develop the project on 82 acres at the northwest corner of Interstate 10 and Mason Road. The initial phase will comprise 60-acres and include retail, restaurant, residential, hotel and office space.
Details about the project, which will be developed in phases over the coming years, will be announced as plans are finalized.
"This particular piece of land is one that we feel is ideally suited for mixed-use," John McCormack, CEO, Westside Ventures, said in an announcement. "Trademark's expertise in developing world-class, mixed-use town centers, like Market Street Woodlands, make them a perfect partner to develop this property into its full potential."
The site is part of a 107-acre tract owned by Westside Ventures.
"We believe this site is the next great opportunity in the country to develop a premier regional, mixed-use town center," said Terry Montesi, CEO of Fort Worth-based Trademark Property Co.
"There is a tremendous retail void in West Houston. Combined with the compelling housing, population and income demographics, and the site's 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."
The site is surrounded by several office buildings, and much of the retail development in the area is concentrated south of the Katy Freeway.
Trademark Property Co. also operates and is redeveloping shopping centers in Rice Village on behalf of Rice University.
