Capital Retail Properties announced Oct. 31 that it will break ground in late 2019 on a new 5-acre shopping center dubbed Fulshear Marketplace in a press release. The shopping center will be located at the intersection of FM 1093 and Syms Street in Fulshear.
“Our goal for Fulshear Marketplace is to introduce a boutique, upscale shopping, services and restaurant environment that meets the demands and expectations of this picturesque pocket of affluent and rapidly growing northwest Fort Bend County,” said Connor Lynch, a senior associate at Capital Retail Properties.
On Aug. 9, Capital Retail Properties received a zoning exception for the development at FM 1093 and Syms Street. Anderson Smith, a partner with the company, estimated it had taken 15 visits to the city to get permits and a zoning exception to allow a mixed-use development in Fulshear’s downtown district. The zoning change was approved at the meeting.
“The people that live in the immediate vicinity of this particular tract, they are very much in favor of this [development] going forward,” Mayor Pro Tem Kaye Kahlich said at the meeting.
The new center will have about 10,000 square feet of retail space in addition to two pad sites available for leasing, according to documents provided to the city. One acre of the development is dedicated to a drainage pond. About 200 parking spaces are tentatively expected to be provided.
The developer is expected to break ground on the 17,200 square foot facility in late 2019, said Stuart Rosenberg, principal at Studio Communications, the public relations firm contracted for the development. Two additional pad sites will also be available, each able to fit a building of about 4,000 square feet according to a site plan provided by Capital Retail Properties.
No leases have been signed for the property as yet, Rosenberg said. A general contractor and architect are still being identified. Capital Retail Properties is choosing to keep the value of the sale confidential, Rosenberg said.
Once completed, Fulshear Marketplace will serve more than 3,700 households with an average income of more than $180,000 within a 3-mile radius, according to Capital Retail Properties.
No general contractor has been selected for the development, company representatives said by email.