What you need to know
Tannos Development Group and Wolfgramm Capital announced the creation of the new Friendswood City Center at a launch party on Dec. 7.
Tannos Development Group President Louis Tannos said he finalized the purchase of the land in February.
Friendswood City Manager Morad Kabiri said the project is an “opportunity to develop one of the most difficult properties in the city,” due to infrastructure deficiencies, drainage issues and zoning restrictions. These issues have led to unsuccessful development attempts in the past.
Tannos and Kabiri say the city currently lacks substantial recreational areas and amenities, resulting in residents seeking such facilities outside of Friendswood.
The Friendswood City Center aims to retain income within the city instead of it flowing out to neighboring areas, as the developers claim the project will expect to bring in $700 million to the city.
The Friendswood City Center will be in the corner of FM 528 and Bay Area Boulevard and will feature a range of components, including:
- a luxury hotel
- a 500-unit multi-family complex
- retail spaces with 150,000 square feet
- medical and office buildings with 200,000 square feet
- mixed-use structures with condominiums with 225,000 square feet
- entertainment areas
- smaller pad sites
Approximately $60 million is earmarked for infrastructure development, including new roads and a 52-acre park with a 5.2-mile trail, a fully stocked fishing lake, waterfalls, wetlands and more, Tannos said. After completion, Tannos said the park will be donated to the city.
The groundbreaking is scheduled for January, with a projected total build-out time of three to four years, encompassing both infrastructure and vertical construction, Tannos said.
Tannos said he envisions further development in the area, hoping to acquire additional commercial land and continuing to contribute to Friendswood's growth.
Kabiri said the city recognizes the growing demand for multifamily units in Friendswood, highlighting the project's alignment with the area's needs and quality development standards.
Kabiri outlined plans for 2024, including the construction of additional office buildings, restaurants, microbreweries, a hotel with a conference center, and more residential development in various locations around Friendswood.