450,000-SF Power Center Moves Dirt

KATY, TX—The Retail Connection just recently broke ground on 300,000 square feet of what is planned to be a 450,000-square-foot power center located at the NEQ of Interstate 10 and Katy Fort Bend Road. The center is one-half mile from the newly constructed Grand Parkway with access from Colonial Parkway, and is catty corner from Katy Mills Mall. 

Members of the Retail Connection, and its development arm, Connected Development Services led by developer Dave Berndt, along with partner Medistar Corp. revealed the development officially, but tell GlobeSt.com that they cannot disclose a construction cost at this time.

Architects on the project will be Johnson Architects | Dallas and the contractor will be EMJ Construction. Financing will be provided by Bank of the Ozarks.   

The Shoppes at Parkwest | Katy will ultimately be built on 40 acres consisting of a combination of junior anchors, small shop retailers, restaurants, entertainment and service users. It will also include ample parking, lush landscaping and high quality finish out. 

The project is in a high demand area with over 120,000 vehicles passing by per day. It will provide “unparalleled shopping to Katy and the over 200,000 residents who live and work within a five-mile radius of the center.”

“As the owners of Parkwest which is a 150 acre Master Planned Development, we are pleased to be joint venturing with The Retail Connection, and Connected Development Services to begin this exceptional retail development.  The new power center will be a tremendous asset to Katy and the remaining development planned at Parkwest,” says Monzer Hourani, founder and CEO of Medistar Corp.

He adds that “Parkwest is very strategic, being located at the northwest quadrant of I-10 and Grand Parkway adjacent to Memorial Hermann Katy Hospital. We are realizing, with the opening of the Grand Parkway, Segment E that the activity and development opportunities that are occurring at Parkwest in the next six to 10 months will be very exciting.”

In addition, Hourani says, “We have owned land in this quadrant of the City continuously for over a decade, including putting together other deals, one of which is now the Bridgelands development by Howard Hughes so this market is very familiar and exciting.”

David Stukalin, president of the Retail Connection's Houston office, adds that “Katy's consistent economic growth has opened up the opportunity to bring additional retailers to this premium quadrant and high impact location, which was a key factor in our going forward with this site. The tremendous access granted by the new Grand Parkway has significantly changed the traffic patterns in Katy, and have allowed this location to become a major retail hub for the entire trade area.”

Many high profile national credit tenants and household retail brands have already committed to the center including: Bed, Bath and Beyond, BuyBuy Baby, DSW, Kirkland's, and DXL, to name a few.  Additionally, the Retail Connection is currently negotiating over 150,000 square feet of leases.

“We are excited to be building from the ground-up our first high profile development in the Houston market,” says Alan Shor, president of the Retail Connection.  “This project is in a one-of-a-kind location, and the finished product will be a great shopping option for the surrounding community.  The project offers outstanding visibility for its tenants and convenient access to the customers.”

Strategically, the Retail Connection wanted to create a shopping and entertainment destination with high quality retailers and overall center design that would appeal to the ever-growing population, income and strong demographics of the Katy area, which has seen incredible growth in the past 10 years. “As always, our retail clients have been actively and invaluably engaged with our incredible team and partners in this collaborative effort.  Everything from catalyst, to design, to the merchandising mix,” says Steve Lieberman, CEO of the Retail Connection.