HOUSTON–The former Springwoods Village Town Center is about to receive a makeover. Patrinely Group, CDC Houston and USAA Real Estate Co. have joined forces to create the new CityPlace. The project will span 60 acres and include more than 4 million square feet of class A office space. Plans also call for retail, luxury multifamily and a full-service hotel.
“CityPlace is an innovative development located at the nexus of Interstate-45, Grand Parkway and the Hardy Toll Road. We anticipate that the new project will make a lasting mark and will help shape Houston for future generations,” says Dean Patrinely, managing principal of Patrinely Group, in a statement.
CityPlace will be one more aspect of the Springwoods Village development.
“CityPlace is the heart and soul of Springwoods Village and an important next step in the growth of the community and will provide amenities to those already living and working in Springwoods Village,” says Keith Simon, executive vice president and director of development of CDC Houston.
Phase one will include two office buildings, for a total of 440,000 square feet. These properties will also include a retail and dining component on the ground level. The development venture is aiming for LEED Gold certification.
“Patrinely's extensive development expertise and attention to detail, coupled with USAA Real Estate Company's financial sponsorship, and CDC Houston's well-designed, award winning master plan will ensure CityPlace Springwoods Village will stand as one of Houston's premier urban communities,” says Ronnie Deyo, executive vice president of JLL. “It will offer the best of everything and create a meeting place that people will be drawn to naturally.”
Building one is expected to deliver in the final quarter of 2015.
JLL has been named as the exclusive office leasing agent for CityPlace, while Transwestern Retail will handle the retail side of the project.
Beyond the office properties, Martin Fein Interests has plans in place to construct a 268-unit class A multifamily apartment community, and Woodbine Development Corp. will build a full-service hotel as well as a Residence Inn by Marriott.
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