Thanks to six projects announced or launched in the last few months, Telfair is about halfway built-out. The development sits on 180 acres at the intersection of Highway 59 and University Boulevard in Sugar Land. Colliers’ Corbin Janssen, Charlie Herder, and Kolbe Curtice rep developer Newland Communities and say it’s the last prime freeway-fronting property in Sugar Land. The most recent transactions were Group One Automotive purchasing five acres and Astra Ventures buying 3.2 acres. (The former will build a high-end car dealership, and the latter will develop a 45k to 50k SF office building.)
The City of Sugar Land is gearing up its Performing Arts Center, rendered here, on 20 acres. It’ll break ground this fall and will include a 6,400-seat theater when it opens in fall 2016. (Election season. If its first song isn't a jazzed up version of "Hail to the Chief," it's a missed opportunity.) And of course, everyone is watching Fluor, which will build its HQ on the 50 acres it purchased at the SEC. (No set plans yet, but it’ll build between 500k and 1M SF there.) Some major projects are already under construction in Telfair, including Texas Instruments’ 160k SF office—with expansion plans for an additional 40k SF—on 7.4 acres. Last but not least, Empire Commercial Developers’ 56k SF MOB and 79k SF garage will deliver this summer.
We snapped this picture from our helicopter this morning, mainly just to show you what 59 looks like with no traffic. Kolbe tells us his team has a few deals under contract, which’ll bring Telfair to about halfway complete. He says the remainder of the property will be sold to MOB, bank, restaurant, and retail users. Plus, he’s eying a few more office buildings and a full-service hotel. The south side of 59 will be higher density, which may include some mixed-use development. Telfair’s public space may get a facelift too; the City of Sugar Land is considering funding a festival ground site, a community park, and improvements to Brazos River Park.