More tenants moving into major Cypress retail centers in 2016

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More tenants moving into major Cypress retail centers in 2016Work has progressed on several major retail developments in the Cy-Fair area targeting residents in master-planned communities, such as Towne Lake, Bridgeland, Cypress Creek Lakes and Fairfield.

Grand openings in the first half of 2016 for the initial phases at both the Boardwalk at Towne Lake and Lakeland Village Center in Bridgeland will be followed by new tenants moving in and opening their doors. The first Boardwalk tenant already opened for business in December—Land of a Thousand Hills Coffee House and Bakery.

“It’s been an exciting journey to see interest from both local and national companies that were interested in bringing their businesses to the Cy-Fair area,” said Peter Barnhart, executive vice president and partner of Caldwell Companies, the developer behind Towne Lake.

Several businesses are also up and running at Fairfield Towne Center, including a 72,000-square-foot Academy Sports + Outdoors store, which opened in September. More businesses are expected to open as construction progresses—including Old Navy,  Rooms to Go and a variety of shops and dining venues—but developers have not released any construction timetables.

Developers with many of the communities had similar points of view on the need to add more retail options closer to where people live.

“I think the retail and commercial development is coming in because of the needs of the families living in this area,” said Randy Corson, vice president with Mischer Investments, the developer of Cypress Creek Lakes. “All the things residents want and need are coming here. We are analyzing what the market demands, and we want to be able to provide it.”

CYF-2016-01-18-2More than retail

In addition to retail and dining, developers have also been looking to bring in medical practices, office space and other services to their development projects.

Following the opening of a new H-E-B at the intersection of Fry and Tuckerton roads last fall, developers with Mischer and Smithco Development partnered to break ground on Cypress Creek Plaza in November. Several medical tenants—including Urgent Care for Kids—and other service providers have already been signed, according to Megan Firby, director of leasing and marketing with Smithco.

The retail portion of the center—consisting of 51,000 square feet of space—is expected to be complete this summer, at which point tenants will start moving in, Firby said. Three additional pad sites are being constructed with plans to bring in two restaurants and a bank.

Other medical tenants include a Texas Children’s Pediatrics coming to the Boardwalk and a First Choice Emergency Room opening in Fairfield in February.

Finishing touches

Officials with Bridgeland expect to finish work on Phase 1 of their first commercial endeavor—the Lakeland Village Center—in early 2016. However, no other tenant announcements have been made since CVS Pharmacy was announced as the anchor tenant in June.

The targeted date for the CVS opening was set for this spring, and more tenants are expected to be announced in the coming months as agreements are finalized.

The concept for the center is to follow a pedestrian-friendly format seen at other Howard Hughes developments in The Woodlands.

“The debut of Lakeland Village Center and CVS Pharmacy really solidifies the Main Street concept we envisioned for the first commercial site,” said Peter Houghton, vice president of master-planned communities for Bridgeland. “Bridgeland’s walkability and easily accessible amenities are distinguishing features of the community, and we’re excited to see Lakeland Village Center further that precedent.”

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Shawn Arrajj
Shawn Arrajj serves as the editor of the Cy-Fair edition of Community Impact Newspaper where he covers the Cy-Fair and Jersey Village communities. He mainly writes about development, transportation and issues in Harris County.
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