The star of the "business image" development is the 30-story, 800,000-sf international headquarters building being constructed by Anadarko Petroleum Corp. But there are other players boosting the perception of the development as a business center, including the Waterway and the College Corridor.
"We had an outstanding year," Richmond tells GlobeSt.com, "and we are reasonably optimistic that we have another very successful year ahead of us. I can't name names but I can tell you that our focus will be on the office, retail and entertainment components of Town Center. We'll work to expand the Research Forest and continue retail expansion along our College Corridor, which is State Hwy. 242 and I-45 highway frontage."
Richmond says the new business image has evolved from two turning points: the regional mall and the Woodlands Waterway, a linear transportation corridor, much like San Antonio's Riverwalk. Parts of the waterway will open in October prior to construction of a full venue of entertainment facilities.
The Woodlands CEO says 28% of Houston's new office construction is occurring in the Woodlands. Year 2000 brought the completion and leasing of Town Center Two, a six-story, 150,000-sf office building, and Waterway Plaza One, a nine-story, 223,400-sf building. The 27,000-acre Woodlands is such a hotspot that Anadarko not only has started its 30-story tower, due for completion in 2002, but has bought the 232,000-sf Mobil Building and has leased 52,500 sf in Waterway Plaza One. Pantellos Energy, a buying consortium for the electric industry, also has leased 52,500 sf in Waterway Plaza One.
In the Research Forest sector, Maersk-Sealand has completed a 100,000-sf building while Southwest Bank/Mitchell Mortgage has finished moving into its 40,000-sf structure. Also, Genometrix has finished out 48,000 sf of offices while Hewitt Associates has occupied its 375,000-sf complex on Lake Woodlands.
Another 2000 eye-opener had been the news of a $113-million expansion of Memorial Hermann Hospital and a 263,00-sf, 82-bed medical center by St. Luke's Health Care System.
Retail growth has surged as a result of the 64,000 population, primarily in the Sterling Ridge section at the intersection of Woodlands Parkway and Kuykendahl Road. Kroger, Eckerd Drug and Perry's Grille & Steakhouse will anchor the 130,000-sf Sterling Ridge Village Center. Meanwhile, a Wal-Mart Supercenter opens January 24 in the College Park Shopping Center.
Other retail on the docket for College Park include Lowe's, Garden Ridge, an 84-room Country Inn & Suites Hotel, Willie's Ice House, Hollywood Video, Chevron, Firestone Tire Center, Woodforest National Bank, Wendy's, Burger King and Payless Shoes.
Sweet Tomatoes, a new 6,800-sf restaurant, has opened on Mall Ring Road in Town Center. Other establishments are Donoho's Jewelers and John Daugherty Realtors.
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