THE WOODLANDS— Development in The Woodlands continues with the announcement of a new full-service hotel at Waterway Square in the north Houston suburb.

The Woodlands Development Company (TWDC) said in a statement it will break ground soon on the 303-room hotel which is anticipated to be complete in mid-2015.

Waterway Square Hotel includes 24,000 square feet of meeting and special event space to service business travelers in the growing Town Center and greater Woodlands area. The hotel will feature a fine dining restaurant and second level pool deck with access to the one-acre-public plaza, The Fountains at Waterway Square.

"There is a tremendous need for additional first class hotel rooms in The Woodlands with over 20 million people visiting The Woodlands Town Center each year," said Paul Layne, executive vice president of Master Planned Communities for The Howard Hughes Corporation. "A hotel of this caliber will attract both business and leisure travelers into the heart of The Waterway Square District within walking distance to hundreds of businesses, shops and restaurants as well as major entertainment venues such as The Cynthia Woods Mitchell Pavilion."

Earlier this month the Houston District Council of the Urban Land Institute selected The Woodlands Development Company for the Vision Award for Exemplary Leadership for The Woodlands Master Plan. ULI determined TWDC, owned by The Howard Hughes Corporation, deserved special recognition for the development of the master-planned community over the last 40 years.