The proposed development will lie along Creek Bend Drive south of Fluor Daniel Drive and promises to include 9,600 square feet of flexible co-working office space, 4,425 square feet of meeting space, and 12,000 square feet for a leasing office, fitness and gaming center and a cafe/coffee shop on the ground floor as well as five “live-work units.”
The residential units will be single and two-bedroom and will spread over 6.5 acres, according to documents submitted by the developer, Morgan Group. One thing missing from the development are retail options, which city staff point out is due to deed restrictions on the property.
The development will target “young professionals” and a “lock and leave” demographic—a younger crowd that will call the complex home for a few years but not settle.
“Pearl will fulfill a key missing component by providing Lake Pointe with Class A rental residential owned and managed by a first-class company,” reads the proposal letter from Morgan Group. “New Class A multifamily is important to Sugar Land’s ability to continue attracting and retaining companies who are attempting to attract and retain young professionals who are renters by choice.”
The letter also mentions benefits to the city including quality of life and ad valorem taxes.
Morgan Group also owns 18 other Pearl projects including locations in City Centre, Downtown Houston, Midtown Houston, Greenway and River Oaks.
City officials acknowledged that the development cuts into what is already a shrinking amount of available multifamily units left before the city runs over its 88/12 single family/multifamily ratio as outlined in its 2018 Land Use Plan. If the Pearl is given the green-light by the City Council and completed, the city will have room for 450 more multifamily units before sliding over the 12% ratio. This number includes multifamily units built as part of the Imperial Sugar District’s Char House project.
Area impact
Submitted as part of the original proposal to Sugar Land’s Planning and Zoning Commission, Morgan Group has conducted a traffic impact analysis survey and population study through Population and Survey Analysts, a College Station based demographic consulting firm.
The development is currently not anticipated to have any significant impact on local traffic and is expected to contribute approximately 23 students to the Fort Bend Independent School District.
Meeting demand
City staff have billed the project as providing additional residential housing options and creating mixed-use activity centers. The new development is intended to be compact, walkable and active, city officials said in a March 23 report.
The project will be officially approved or rejected at a future City Council meeting.
