Sugar Land City Council approved the creation of a reinvestment zone for 3.59 acres of property located adjacent to Creek Bend Drive in Lake Pointe at its May 19 meeting.

Planned Community Developers acquired five acres of the lakefront site May 6 and has plans to develop a six-story, 150,000-square-foot Class A office building, a parking garage with approximately 550 spaces and a 134-room hotel on the site. The future development, which has been dubbed Lake Pointe One, is situated on Brooks Lake adjacent to the Hwy. 59 and Hwy. 6 intersection. Lake Pointe One will be marketed to attract corporate headquarters.

“The setting is ideal for a company that embraces a culture of workplace wellness,” said Don Janssen, principal of Planned Community Developers. “Everything this offers is a great opportunity.”

Planned Community Developers requested a tax abatement from the city of Sugar Land on the portion of the property that will house the office building and parking garage, which totals 3.59 acres, city officials said. The proposed 134-room select service hotel will be developed on an adjacent tract totaling 1.41 acres.

In order for a tax abatement agreement to be made between Planned Community Developers and the city, City Council first had to create a reinvestment zone for the property, city officials said. City Council is now expected to consider the tax abatement proposal this summer.

The 5 acres of acquired property must still be rezoned by the city to a planned development. The Planning and Zoning Commission is expected to make its recommendation on the rezoning to City Council in June, and City Council will begin its rezoning approval process on the site in July and August, city officials said.