The Ivy District, a 50 acre mixed-use development at Beltway 8 and Hwy. 288, is slowly becoming a reality after Pearland City Council approved of road development projects in late February.
“It’s a good project and a good partnership with American Modern Green,” said Matt Buchanan, president of the Pearland Economic Development Corporation.
City Council approved an agreement with American Modern Green, the Ivy District developer, to extend South Spectrum Boulevard from Hwy. 288 to Kirby Drive as well as an extension of Promenade Shops Drive.
American Modern Green will finance the $3 million extension of South Spectrum Boulevard to Hwy. 288 and Promenade Shops Drive.
The Lower Kirby Pearland Management District and Pearland Municipal Management District No. 1, are responsible for the $5.76 million extension of South Spectrum Boulevard to Kirby. The developer will contribute $1 million to the Kirby extension. If the districts are unable to secure financing on their own, the city and the PEDC will pre-finance on behalf of the districts and be reimbursed when the districts’ tax bases are sufficient.
The extensions also include landscaping, lighting, drainage and other road infrastructure improvements. The projects are in the platting phase.
The Ivy District will include townhomes, retail and restaurant space, hotels, office buildings and green space.