Houston Baptist University has kicked off its 30k SF retail development, The Pillars at HBU.

The development will be built on a 30-acre tract of university-owned land that stretches from 7406 Fondren Rd to 7731 Southwest Freeway. The price tag is at least $3.9M.

The university knocked down several old buildings to make way for the new development, including the FedEx Office Print & Ship Center, LifeWay Christian Store, and Casa De Albanza bookstore, according to the Houston Business Journal. FedEx and LifeWay have signed leases for The Pillars at HBU.

Chipotle will also be a tenant at Phase 1 of the new development, which includes two 10k SF buildings. That phase will be completed in June. Phase 2 will be an 11k SF building and will deliver in January.

The project is slated to complete in 2017. [HBJ]