The Woodlands' Development Boom
The Woodlands was already one of Houston’s hugely successful hotspots before Exxon began its 385-acre campus six miles south. But now, it seems projects are being announced there hourly. (There's a line around Oklahoma just to get in.) That level of activity makes it the perfect time to host our Future of The Woodlands event on April 29. In preparation, we spoke to three developers who’ve made big investments in the area.
Howard Hughes EVP Paul Layne tells us his firm (which owns/develops the 28,000-acre master-planned community) has 1.8M SF of new construction underway, including 66-acre Hughes Landing on Lake Woodlands. (They can't make hardhats fast enough around here.) It'll include 11 office buildings: the first is virtually 100% leased, and 197k SF Two Hughes Landing will deliver next month. Including deals that haven’t finalized yet, it’s slated to open around 65% leased. Howard Hughes has two BTS projects working: Exxon is leasing almost 500k SF in a two-building complex, and Kiewit is taking down a 100k SF property.
That's not all: retail—including the buzzed-about Whole Foods—and One Lake’s Edge, a 400-unit luxury multifamily tower are also under construction. Over in the Waterway Square District, Howard Hughes is breaking ground next week on the 303-room upscale hotel overlooking the Fountains at Waterway Square. (Rendered here.) Paul will be taking a break from the construction flurry this weekend; his son-in-law Andrew Disney directed a film airing in the Tribeca Film Festival (Intramural: The Movie). The whole family is going, except Andrew's wife/Paul's eldest daughter—she's expecting Paul's fourth grandchild any day now. (Everyone's crossing their fingers she doesn't go into labor while they're away.)