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THE WOODLANDS, TX-Fort Worth-based Trademark has kicked off work on the $90-million Market Street, a 468,000-sf town center project strategically positioned on 34 acres in the heart of the community.

The mixed-use project represents Trademark’s largest undertaking in its 11-year-history. Its participation is being fueled by an agreement to pay for almost $9.8 million in enhancements to Market Street. Tommy Miller, Trademark chief investment officer, tells GlobeSt.com that Trademark will be repaid with interest from a sales tax revenue fund over a 30-year period. In turn, the Woodlands Town Center Improvement District has signed a letter of intent to create an economic development zone.

The $9.8-million commitment will be used to fund such public amenities as a 591-space parking garage, trolley stops, civic office, children’s discovery areas and information kiosk. The municipal district will use part of the capital to build a central park that adjoins the town center and Woodlands Waterway.

Market Street will have 212,000 sf of retail space, another 60,000 sf for sit-down restaurants, a 78,350-sf H-E-B grocery, 26,000-sf Borders Books & Music store and 92,000 sf of loft-style, class A office space. At last count, 170,000 sf of the retail space has been reserved. Tenants are to start getting their keys in March 2004. The Boyd Page/ChainLinks is handling retail leasing. Damon Palermo of the Woodlands Operating Co. is tasked with leasing the office space.

Miller says Trademark looked at several town center projects before settling on the pedestrian-friendly, open-air Main Street design. He believes it’s crucial for the center to be “internally focused,” meaning all paths lead to the core. The 34-acre design is to be visually stimulating, accented by plazas, public art areas, murals and fountains.

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