The Nelson Company represented the buyer, MRSS Partners, Ltd., in the purchase of approximately 510 acres for the new development.
“The development will consist of a number of uses, such as retail, entertainment, medical, hotel, office [and] multi-family and single-family [residences],” Nelson said. “We have started marketing and discussing the remainder of the commercial property along I-45 with potential users and developers who want to be a part of the overall development."
Of the 510 acres, approximately 232 acres are under contract with a national home builder for a single-family residential development, he said. Nelson did not disclose the name of the company.
Fidelis Realty Partners also purchased roughly 36 acres from MRSS Partners for a retail development on the north side, Nelson said, adding it is too early share details of the retail businesses.
“This is certainly a game-changer for Willis and will change the whole dynamic in that area over the next few years,” Nelson said. “Additionally, when you combine the fact that the property is located in close proximity to quality, master-planned developments like Howard Hughes, with the Woodlands Hills and Caldwell Companies developing Chambers Creek, it begins creating real excitement for what’s to come to the area. This is a highly desirable location for a number [of] uses.”
This story will be updated once more details are confirmed.