Tommy Spinosa, head of JTS Interests and developer of Perkins Rowe, said Friday that the first phase of the sprawling, mixed-use area should be complete by August.
A second phase could begin by early next year on a 15-acre tract adjacent to the Perkins Rowe development on Perkins Road and Bluebonnet Boulevard. Spinosa said negotiations are ongoing, but the next phase could include two hotels, at least two office buildings and between 60,000 and 80,000 square feet of more retail space.
In a speech to LSU business college students, Spinosa also said he plans to build a 135-unit loft-apartment complex at CitiPlace on Corporate Boulevard.
That development, set for 11 acres, is the last part of the 70-acre CitiPlace site to be developed, he said. He did not provide specifics on when construction was to begin.
In June 2005, Spinosa's company paid $13 million for a 120-acre tract farther east on Perkins Road known as Ford Pasture.
He said Friday that JTS Interests has "some amazing plans" for the area, though he did not elaborate.
Previously, he has said that area would be mixed-use as well, combining single-family homes, town houses, offices and light retail.
He also has been negotiating to put a public library branch there.
Perkins Rowe is a 25-acre, mixed-use development combining residential, retail and office space.
Several businesses already have opened there, including Starbucks and a CVS pharmacy.
Previously, JTS Interests has said the first phase will total 10 separate buildings with nearly 834,000 square feet. The biggest part of that - about 40 percent - will be 317 residential units.
About 45 percent is set for retail, while the remainder will be office space.
Among others, the tenants will include a freestanding, 20,400-square-foot Fresh Market Grocery with two-level parking surrounding the store; Barnes and Noble; La Madeleine restaurant; and Fish City Grill.
Moreover, it will include a 3,200-seat Cinemark Theater and another large retail building that will include parking space for 750 cars and 130,000 square feet of space.
In September, JTS Interests secured a $170 million loan from a Cleveland bank to complete the initial phase of construction.
