Developers for the new Grand Imperial Marketplace recently announced a 170,000-square-foot retail center that will be anchored by Sprouts Farmers Market. (Kara Willis/Community Impact)
In the decade since the Grand Parkway opened in south Montgomery County, governing bodies and school districts have worked to accommodate the increase in traffic and development along the corridor with expanded roadways and new schools.
Now, an increasing number of retail centers are opening to serve the area, where master-planned communities such as Woodson’s Reserve and Imperial Oaks have expanded or broken new ground east of I-45.
This summer, Fidelis announced the upcoming 2027 opening of a Sprouts-anchored center on the Grand Parkway near the Imperial Oaks community, while other retail centers continue to spring up both along the toll road and on Rayford Road, which connects the area to I-45.
“The growth along Rayford Road and the Grand Parkway adds another dimension to an already dynamic south Montgomery County economy,” said Aaron Cox, president and CEO of The Woodlands Area Chamber of Commerce. “It brings new residents, new entrepreneurs, new investment and new ideas into our business community.”
Two-minute impact
Development along the Grand Parkway is sparking more demand for retail services east of I-45 in south Montgomery County.
Businesses are seeing the residential customer base grow around them while also getting access to the commuter routes on the Grand Parkway and I-45, Cox said. The increase makes the area an attractive combination of proximity to The Woodlands and broader Houston region.
Cox said population growth, accessibility and opportunity were key factors in the growth of this region, including advantages for businesses entering a developing market.
“Established areas may already have multiple businesses competing within virtually every category," Cox said. "In a growing corridor, entrepreneurs have an opportunity to identify services or experiences that residents do not yet have as close to home as they want and establish themselves early.”
Carson Wilson IV, executive vice president for Fidelis, said the company is currently leasing for its Grand Imperial Marketplace in Spring at Imperial Promenade Drive and the Grand Parkway. The 170,000-square-foot retail center currently has a Sprouts Farmers Market, Marshalls, Five Below, Ross and Planet Fitness slated for fall 2027 openings, which it announced this summer. Wilson said despite challenges with rising construction costs, the Grand Parkway corridor is attractive for development.
Fidelis plans another center alongside the marketplace, and other new developments planned in the area include the Grand Oaks Shopping Center near the Grand Oaks High School and Woodson’s Reserve, where a dentist and veterinary clinic opened this year.
What's happening?
In addition to large, retail-focused centers on the toll road, other area developers are also setting their sights on expanding to the east side of I-45.
Nate Newman, president and CEO of Newman Commercial Real Estate, founded in Tomball in 2019, said the east side of I-45 will be a major growth corridor.
“Historically, the west side, which is where The Woodlands is, has received most of the attention, but [the] Grand Parkway now [has the] entire east side very busy,” Newman said.
Newman is developing 30 properties in the region, including mixed-use, commercial and retail sites, mostly west of I-45. FLEX Oak Ridge, which includes a retail component, will become the first property Newman has on the east side.
The space will provide 10,000 square feet of retail space and 100,000 of industrial space on the Robinson Road corridor connecting I-45 and the Grand Parkway, according to information from the company. The built-in flexibility allows it to respond to demand for various types of commercial space, Newman said.
As of mid-September, horizontal work on the project was underway, according to information from Newman CRE.
Growth in the region served by this corridor—which, along with roads such as Rayford Road and Imperial Oaks Boulevard, connects the Grand Parkway to I-45—includes unincorporated areas such as those served by Montgomery County MUD 99. Bond filings show 125 new homes in that area since 2025.
Newman said the area is becoming more attractive due to an employment base along with good infrastructure, roads and schools.
Public input
Jazmine Turcios, office manager for The Airway Dentists, said the location on Riley Fuzzel Road in the Grand Oaks Center is a high-traffic area. The business opened on Oct. 7. Turcios said the office is the only dentist of its kind in the immediate area.
“We are getting more attraction than our other locations when they first opened,” Turcios said. “I do think it’s a good location because it is right next to the freeway.”
The toll road also connects the region to wider development underway in the county.
Rhonda Ellisor, director for Sam Houston University’s Small Business Development Center, said the corridor is bridging the gap between I-45 and areas in the eastern part of Montgomery County.
“We are seeing significant residential development, continued population growth, strong transportation access ... and major new investments in retail, healthcare, entertainment and hospitality,” Ellisor said.
Lindsey McKean, developer for Lindsey McKean Shop Cos., which manages the center, said the market is becoming more competitive, with a 46% increase in population in the 3-mile radius since 2010.
"We've done a lot of restaurant work in the last three years to bring exciting restaurants to the area, [in] which there was a large void," McKean said. "We’re fully leased and we have been for the past year, which is a testament to the overall health of the market."
By the numbers
According to the U.S Census Bureau, population increased in Montgomery County by 25.9% between April 2020 and July 2025 compared to a 3.1% increase across the United States in the same timeframe.
Within the 77386 ZIP code in the Rayford Road and Grand Parkway area, that increase was 56.6% when looking at the entire decade from 2014-24, according to the most recent information available for the area.
Wilson said Fidelis has projected even more building to take place in the coming years.
"We did a broader survey of the planned residential development and the greater market, and we've identified as many as 23,000 additional planned homes … for the market,” Wilson said. “So there's going to be a tremendous amount of growth and everything that comes with it will.”
What's next?
Falls Bluff Shopping Center, another Fidelis property located off Imperial Promenade Boulevard, will offer another 11 sites ranging from 0.66 acres to 7.5 acres in the same area as the Grand Imperial Marketplace.
Residential growth will continue to drive a mix of new businesses for the region, Cox said.
“I also expect the business mix to become increasingly diverse. Over time, we should see additional healthcare, professional services, office users, entrepreneurs and employers locating,” Cox said. “That is important for the entire region.”
