With a new name in place, development is well underway at CityPlace, the central mixed-use development within Springwoods Village. Plans for the project include more than 4 million square feet of office space, a full-service hotel, multifamily residences and a variety of retail and restaurant options.
Formerly known as Town Center, CityPlace was announced in June as a joint venture between Springwoods Village developer Coventry Development Corp., Patrinely Group and USAA Real Estate Company.
"CityPlace is an innovative development located at the nexus of Interstate-45, Grand Parkway and the Hardy Toll Road," said Dean Patrinely, managing principal of Patrinely Group. "We anticipate that the new project will make a lasting mark and will help shape Houston for future generations."
The development will not be completed for several years, said Robert Fields, president and CEO of Patrinely Group. Fields said CityPlace could house as many 13 office buildings along with retail and restaurants in the first phase of development.
"We are currently planning a mix of retail and restaurants on the ground floor of most of the buildings," he said. "However, some of the retail [and] restaurants will likely be in freestanding buildings."
Tenants have already shown interest in the first two planned buildings—a five-story, 147,000-square-foot building and a 10-story, 295,000-square-foot building. He said many of the calls have been from firms within the energy and financial industries.
The first office building could be completed by the fourth quarter of 2015.
CityPlace will also house hotels and a multifamily development. Woodbine Development Corporation plans to develop a full-service hotel with meeting space that will overlook the development's public plaza.
Fields said the public plaza could be completed in 2015 or 2016, while the hotel could be completed in two to three years. Details on the hotel will be announced soon, he said. Woodbine is also developing a Residence Inn by Marriott on the western end of CityPlace.
Martin Fein Interests plans to construct a 268-unit apartment community within the development that will house retail space on the ground floor as well. Keith Simon, executive vice president and director of development for CDC Houston, said construction could start on the development later this year and be completed around the second quarter of 2016.
Simon said the 60-acre CityPlace was originally called Town Center as a placeholder. However, he said he believes it is more of a suburban name and CityPlace better represents the urban development.
An unusual setup, CityPlace will connect the urban commercial buildings with the public plaza along Energy Drive that will connect to the pathway system that leads to parks throughout Springwoods Village and the Spring Creek Greenway, Simon said.
Several retailers and well-known restaurants have already shown interest in CityPlace, he said. Although no retailers have been named, a specialty grocery store or movie theater could be possible options for stand-alone buildings.
"We're still trying to figure out all the details of who are the retailers, which can be part of the larger office buildings and which need their own freestanding locations," Simon said.