Millions of public and private dollars are being poured into the development of the Ivy District, a 48.5-acre mixed-use development in Pearland.
Pearland City Council approved $1.19 million in city expenditures for a waterline connection to the Ivy District as well as public park facility at its July 10 meeting. The Ivy District is located within the Lower Kirby Urban Center at Beltway 8 and Hwy. 288.
The funds will come out of the Pearland Economic Development Corporation’s budget, which generates revenue from sales tax.
“The Lower Kirby area has been a big success for us,” PEDC President Matt Buchanan said.
Other developments in the Lower Kirby Urban Center include industrial developments for FloWorks International, Lonza Houston Inc. and Mitsubishi Heavy Industries Compressor Corp.
The waterline for the Ivy District development is estimated to cost $224,000, and $189,000 will be funded by public dollars, and the project will serve future utility users.
“It gives us redundancy so we have multiple water lines connected to the area,” Buchanan said.
The total cost of the parks project is $ 2.9 million, and $1 million will be funded by public dollars. The park is a secondary use for the detention pond that is being constructed on the premises.
“It’s not a city park per se. It’ll be open to the public, but it won’t be a city of Pearland owned and operated park,” Buchanan said.
Both projects are part of the development agreement that Pearland City Council approved on July 10 between the city and the Ivy District developer, American Modern Green LLC.
American Modern Green is the Houston-based subsidiary of Hong Kong-based Modern Land of China.
The development agreement requires the developer to construct three public roadways on site with requisite lighting and landscaping, a detention pond, bridge improvements across Clear Creek for pedestrian access and the waterline improvements, according to the agreement.
American Modern Green expects to invest up to $13.5 million in road construction and onsite infrastructure, said John Chiang, executive vice president and COO of Houston-based Sueba USA, which is partnering on the project as a local consultant.
The city of Pearland has continually worked with the developer to build out the Ivy District. In February, Pearland City Council approved a $5.76 million road extension of South Spectrum Boulevard that links Kirby Drive and Hwy. 288. The funds were pre-financed by the city and the PEDC on behalf of the two management districts controlling the project.
The South Spectrum Drive extension is being completed in two segments. The eastern portion connecting to Hwy. 288 is under construction. The western portion connecting to Kirby Drive is in the design phase.
The Ivy District is a $300 million development that was approved by city council in 2016. The development will include apartments, senior living condos, office buildings, retail and restaurant space and townhomes.
The development is now anticipated to break ground in 2018, after development of the onsite infrastructure is complete with the first buildings completed in early 2019.
Financing and equity for developing the project was not secured as of press time, Chiang said.
“I think we have a project that’s marketable and financeable and acceptable by the city. So we’re going to move on from this point on,” Chiang said.
