The Woodlands Real Estate Blog

THE WOODLANDS, TX - The first Hughes Landing tenants began moving into their new offices in One Hughes Landing in early September, but the office building is only the first of many projects on the horizon. With residential, retail and dining projects planned in the near future, demand for space is strong for the 66-acre mixed-use development.

Plans for Hughes Landing in The Woodlands include 1.5 million to 2 million square feet of office space, 800–1,000 apartment units, 175,000–200,000 square feet of retail, 200,000 square feet for a hotel and a fitness center to serve workers, said Alex Sutton, co-president of The Woodlands Development Company.

Within two years, much of Hughes Landing—located on the east side of Lake Woodlands between Grogan's Mill Road and Lake Woodlands Drive—could be completed, including a grocery store, parking garage, restaurants and luxury apartments, he said. Sutton said the entirety of the development, including as many as 11 office buildings, could take five to 10 years to complete, depending on demand.

Development has always been planned for the tract of land—on the east side of Lake Woodlands between Grogan's Mill Road and Lake Woodlands Drive—but the development company debated how much space should be allocated for residential and commercial development.

Although most of the early construction has focused on commercial development, other areas could break ground in 2013. Construction should break ground by the fourth quarter of this year for a 40,000–50,000-square-foot specialty grocer and a parking garage as the Development Company finalizes leasing for the space.

Paul Layne, executive vice president of master-planned communities for the Howard Hughes Company, said the development company is discussing a lease with Whole Foods. If constructed, it would be the first Whole Foods in The Woodlands.

Hughes Landing in The Woodlands will also house what the development company is calling Restaurant Row, an area that will feature at least six restaurants. Escalante, a Mexican restaurant, has already signed a lease, while Eddie V's, a seafood restaurant, and Whiskey Cake Kitchen and Bar are close to signing, Layne said. He said the development company is also seeking an Italian restaurant, and as many as 40 restaurants are vying for those few spots in Hughes Landing.

The first of as many as 11 possible office buildings within Hughes Landing, One Hughes Landing is complete and will begin housing tenants this month. Construction began on Two Hughes Landing in June, which should be nearly identical in size to One Hughes Landing.

The third office building could begin construction in spring 2014 once Two Hughes Landing nears completion. Future office buildings should follow suit, breaking ground shortly after the previous building's completion date.

The third office facility could be as tall as 12 stories, while the fourth could be 14 or higher as the buildings get farther from the water.The development company has even considered an office building on the water. 87 percent of the leases for One Hughes Landing have been signed, although 95 percent of the leases will soon be finalized for the 197,000-square-foot, 8-story building. Tenants include Layne Christiansen, PetroQuest Energy and Post Oak Bank.

Source: impactnews.com