The development, known as Magnolia Village, will be located across Spur 149 from Stratus Properties' proposed Magnolia Place development where H-E-B is scheduled to break ground in June, according to the release.
Phase 1 of Magnolia Village includes 36 acres of retail and office space as well as 300 multifamily housing units, according to the release.
“We are extremely bullish about the future of this rapidly growing and currently underserved north side pocket,” said Tom Lile, Gulf Coast Commercial Group Inc. president, in the release. “It’s one of the most dynamic suburban intersections to arise since COVID began and ideally poised for daily needs tenants ranging from restaurants and medical to service businesses and general retail.”
Magnolia Village is slated for completion in fall 2022, according to the release.
The leasing of big-box tenants will be overseen by Gulf Coast Commercial Group Inc., while Houston-based Ironbridge Realty Partners will market the multitenant retail and restaurant spaces along Spur 149 and FM 1488, according to the release.