Phase one of Town Center will include multifamily, hotel, office and retail.

HOUSTON TX-CDC Houston, Inc., a subsidiary of Coventry Development Corporation, New York, disclosed today that phase one development of Springwoods Village Town Center will include a full-service hotel, luxury apartments, office space and retail shops. Located adjacent to the ExxonMobil Springwoods Village campus, Town Center will be on Town Lake and will include a public plaza on the lakefront to make it a focal point for the Springwoods Village community and the region.

Springwoods Village is a $10-billion, 1,800-acre, mixed-use community situated along the west side of Interstate 45. The Texas Department of Transportation broke ground recently on the portions of the Grand Parkway that run between U.S. Highway 59 and U.S. Highway 290. The groundbreaking ceremony was held at Springwoods Village and the project is scheduled to be completed in 2015.

Phase One of Town Center will include approximately 250 luxury apartment homes; a full-service hotel; office space in a variety of configurations; and up to 100,000 square feet of retail space. Construction is scheduled to begin in early 2014. Development partners include Fein, Woodbine Development Corporation and the Patrinely Group LLC.

Town Center has been planned as a fully integrated mixed-use environment that embraces sustainability and greener living; preserving its natural ecosystems; building energy-smart new homes; and reducing dependence on the car by providing a walkable mix of retail, dining, offices, and public amenitieies.

“Town Center will be the heart and soul of Springwoods Village because it will be where people go to eat, play, meet and relax,” said Keith Simon, executive vice president of CDC. “We will create a space that invites people to enjoy the beautiful Town Lake and plaza, whether they are taking a lunch break, dining out for dinner or shopping.”

Town Center will feature Town Lake and a tree-lined plaza, with a water feature as its centerpiece. Situated within walking distance to Spring Creek Greenway bike and walking trails, Town Center will provide residents workers and visitors an inviting destination to live, gather, dine, shop and play by integrating community, commerce and nature.

Patrinely Group, LLC, a national leader in build-to-suit corporate headquarters and regional office buildings, will develop a series of Class A office buildings in a joint venture with USAA Real Estate Company and CDC Houston. For three decades, Patrinely and USAA have partnered to develop innovative, successful projects for their clients. With more than $12 billion in assets under management, USAA Real Estate is a subsidiary of USAA, a leading financial services company serving military families since 1922.

CDC Houston, Inc. is an experienced land developer with expertise in creating mixed-use urban communities that foster smart and responsible growth for commercial and residential vitality. Coventry has provided development services for mixed-use projects in New York, Colorado, Texas and Guam over its 45-year history. ement, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors.