Houston Area Experiencing Growth in Office Buildings, Retail

Development envelopes northwest; more growth planned along Texas 249

A 112,000-square-foot "hybrid" H-E-B store opened Nov. 14, and about 22 tenants have committed to space in the 350,000-square-foot Vintage Park retail development next door. That shopping area is being developed by Vintage Park LLC, a partnership between Interfin Companies LP and V&W Partners.

Tenants who have signed leases include: Starbucks, Mia Bella Restaurant, Fish City Grill, Peri Peri Restaurant, Eminence Fine Furniture, FedEx, Imagination Toys & Shoes, and a Westin "Element" hotel. There will also be banks: AmegyBank, Bank of Texas and Laredo Bank located along Louetta Road.

Nussbaum said V&W Partners continues to sell homes in the $500,000-$2 million range in the 63-acre Vintage Lakes gated community on the north side of Louetta Road.

Portrait Homes is building about 300 townhomes and patio homes in the 51-acre Vintage Royale development on the northwest corner of Cutten and Louetta roads. Those homes start at about $160,000.

St. Luke's Cypress Woods

Scott Honan, president of Richmond Partners LLC, said the 150,000-square-foot medical office building in St. Luke's Cypress Woods is fully leased. The Kelsey-Seybold Spring Medical and Diagnostic Center occupies more than half of that building.

The Atlanta-based company is co-developing the 80-acre site at FM 1960 and Northgate Forest Drive with St. Luke's Episcopal Health System.

Honan said the faith-based company is looking to give back to the community. He said they will start construction on a 110,000-square-foot medical office building in March that will house a 60,000-square-foot wellness center. A continuous care retirement community will be constructed on the back 60 acres.

"We searched three years for the right location," Honan said. "We were drawn to this community and are excited about working together to make a difference."

What's next?

Hewlett-Packard still owns the 94-acre property at the southwest corner of Cutten and Louetta roads.

Nussbaum said Centex is developing the Vintage di Vita townhome community at the southeast corner of Chasewood Park Drive and Vintage Preserve Parkway. Those townhomes will probably start at $300,000.

Across the street Kelsey-Seybold is building a new 60,000-square-foot medical and diagnostic center and a 12,000-square-foot St. Luke's Minor Emergency Center on a 10-acre tract on the Texas 249 feeder road between Cypresswood and Louetta roads. Kelsey-Seybold officials say the Kelsey Seybold at The Vintage should open in March.