Fall Creek is being developed at the intersection of Beltway 8 and US 59, just three miles from George Bush Intercontinental Airport. Johnson Development Corp. and Jefferson Development Co. are the developers. Steve Pierce, Fall Creek's general manager, tells GlobeSt.com that the commercial property consists of 30 acres for office and industrial development; 40 acres each for retail and multifamily; and 30 acres for institutional use, such as churches and schools. The 767-acre community calls for 1,550 single-family homes. Redstone Golf Properties will be developing two 18-hole championship golf courses on an 876-acre contiguous tract in Fall Creek.
Pierce believes the synergy of 6,000 future residents and the 40,000 vehicles using Beltway 8 each day practically guarantee retailers' success in the community. Pierce tells GlobeSt.com that 30 acres of "horizontally developed" commercially land, meaning land equipped with water, sewage, drainage and paving, will be delivered by the summer.
While the residential area is being horizontally developed on a speculative basis, Pierce says that many possible commercial entities including the major grocery store chains have contacted him about space in the community. Pierce says his group has the ability to do "vertical development" on the properties and produce build-to-suit commercial space for potential owners or tenants. Pierce anticipates up to 25% of the commercial land will be vertically developed by his company in build-to-suits and joint ventures.
The project's marketing plan includes touting the community's close proximity and access to the CBD. According to Pierce, there is no other master-planned community closer to downtown or other major employment centers such as Greenspoint, Greenway Plaza, the Galleria and Texas Medical Center. Additionally, with completion of other master-planned communities, Kingwood and Atascocita soon approaching, Pierce believes Fall Creek will be the one of choice.
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