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July 06 , 2015

Major retailers to open in Katy-area development

ByNancy Sarnoff July 6, 2015Updated: July 6, 2015 10:01pm
The Grand Parkway cuts north from Katy toward U.S. 290 in this aerial view. The Shoppes at Parkwest/Katy will be developed in the area. Developers are starting construction on a shopping center in the Katy area that will offer new retail options to the growing population west of Houston. The center, The Shoppes at Parkwest/Katy, is expected to include 450,000 square feet and house Bed, Bath and Beyond, BuyBuy Baby, DSW, Kirkland's, DXL and other retailers, according to an announcement Monday. The project will be built on 40 acres at the northeast quadrant of Interstate 10 and Katy Fort Bend Road, a half-mile west of the newly opened Grand Parkway and kitty-corner from Katy Mills Mall. The Retail Connection; its development arm, Connected Development Services; and Medistar Corp. announced the project, which is being designed by Johnson Architects of Dallas and constructed by EMJ Construction. Bank of the Ozarks is providing financing. Medistar, primarily a developer of health care facilities, has owned 150 acres at the site, which has been branded Parkwest. The property, adjacent to the Memorial Hermann Katy Hospital, is being marketed to office, multifamily, hotel and retail users. Cushman & Wakefield is marketing the property for Medistar. Edge Realty Partners is also involved in marketing retail sites.
More than 120,000 vehicles pass the site each day and more than 200,000 residents live and work within a 5-mile radius, the developers said. "The tremendous access granted by the new Grand Parkway has significantly changed the traffic patterns in Katy, and have allowed this location to become a major retail hub for the entire trade area," David Stukalin, president of the Retail Connection's Houston office, said in the announcement. The companies said another 150,000 square feet of leases are in negotiations. Stukalin said retailers should open in about 300,000 square feet of the project by fall 2016.
 
 
 
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