The Katy Area Chamber of Commerce will welcome the new management at a ribbon-cutting Oct. 24 at 2300 S. Mason Road.
Joseph Kung, a California-based real estate developer and his co-managing member Henry Van, who is in the restaurant business in Houston, bought the shopping center Sept. 9.
The center was built about two years ago, he said. He bought it because he along with some 20 investors in Houston knew it would be good business at a prime location.
The Finial Group, a real estate firm, will manage the shopping center, which includes various businesses in retail, shopping and dining, a firm representative confirmed.
“We have been working with [Joseph Kung] for several years, and we have a great relationship with him,” Sarah Gadson, senior property manager at Finial Group said. “Each time he purchases properties in Houston, he always considers us as management.”
Kung is the only managing member for Hanover Plaza in Spring, which is managed by Prime Management Co., and the only managing member for Normandy Shopping Center, which is managed by Finial Group.
His remaining two properties in the Greater Houston area—Katy Westheimer center and Hearthstone Medical Center—are joint venture with Van and managed by Finial Group.
Kung said he and Van will acquire two properties to close in November: one in Pinehurst-Decker Oaks and a park in Magnolia off FM 2978.
Kung said the ribbon cutting will be to celebrate the new management and to give back to charities and churches in the community.
“We are promoting charity giving,” Kung said. “Our tenants are very interested to participate in community service. That’s why we are doing it. We want to help people who need it in local charities and churches of any religion.”
The event, which will take place at 4:30 p.m., will be complimentary for anyone who wishes to attend, as Kung covered costs and donated to local charities such as Clothed by Faith, Katy Christian Ministries, Katy Area YMCAs, Christ Clinic Katy and the Katy Fire Department.
“I’m Christian for almost 50 years,” Kung said. “I build churches, and I’m very active in charity church giving.”