Major retail and apartment project next to H-E-B in Magnolia set to start

The initial phase will encompass 36 acres and incorporate three 10,000-square-foot retail buildings on the corner and 12 single-tenant buildings along FM 1488 to the east. Additional retail buildings along Spur 149 are in the planning stages. Houston-based Identity Architects is designing the retail portion. Trammell Crow Residential plans to develop a 300-apartment complex on nearly 12 acres.

“It’s certainly time for Magnolia to see significant commercial development with its tremendous residential growth accelerated by the infrastructure improvements to State Highway 249,” Gulf Coast Commercial Group Executive Vice President of Development Patrick Egan in an announcement. “Given the volume of development planned, this is a particularly exciting pocket of the community, and we’re already seeing interest from daily needs tenants such as restaurants, medical to service businesses.”

Work will begin in May on a shared detention pond with a neighboring property, followed by underground utility and storm systems 60 days later, retail building foundations and surface parking in the third quarter and vertical improvements toward the end of the year, according to Gulf Coast Commercial.

Court Richardson and Thomas Holdsworth of Houston-based Ironbridge Realty Partners are marketing the multi-tenant retail and restaurant spaces fronting FM 1488 and Spur 149.

Gulf Coast Commercial specializes in retail development, management and leasing. The company and its affiliates have overseen the development of more than eight million square feet of retail space in twelve states.