The acreage fronts College Park Drive, less than a half mile west of St. Luke's Community Medical Center. A January groundbreaking has been scheduled, with completion planned for May. Marko T. Dasigenis with the local office of San Marcos, CA-based Opsis Inc. is the architect. Vogt Engineering of Shenandoah, TX is the civil engineer. A general contractor has not yet been selected.

The project will consist of three single-story buildings that will deliver in shell condition. The plan is to lease or sell the space.

"I had been looking to do a professional office building for some time," explains George Polydoros, who heads up the development group, 242 Woodlands LLC, which is tackling its first medical condo project in the master-planned development. "The Woodlands is doing very well. The property is close to St. Luke's and the whole thing just made a lot of sense," he tells GlobeSt.com.

Polydoros, who set up a similar development deal for Tradition Bank on a Woodlands tract in September, says he'll most likely handle the initial condo sales himself. "I'm thinking of purchasing one of the spaces and setting up an office out there," he adds. "Once I do that, I'll have someone out there on a day-to-day basis."

Polydoros personally negotiated the transaction. The Woodlands Development Co. had in-house broker, Greg Jordan, handle its side of the talks.