Katy Medical Plaza, a three-building, 150k SF development, is in the ground at the corner of Kingsland Blvd and Cobia Drive. Jacob White Development is spearheading the project (above, we snapped prez Jeff Mickler on his HQs green roof) and Transwestern SVP Tim Gregory is handling leasing. Tim tells us Phase 1, a 50k SF MOB, is 50% pre-leased. He calls the project, which is certified LEED Gold, the next generation of Jacob Whites award-winning 251 and 253 Medical Plaza. He believes theres nothing like it in Katy: Its high Class-A with a green roof with tenant/public access and a unique focus on monitoring health inside the building. (Think improved air quality and antibiotic materials.)
Tim says its now the perfect storm to develop healthcare facilities in Katy. Its one of the best markets in the region for insurance demographics, but theres limited supply of MOBs. The city has 16 Class-A and B facilities but all are high 90% occupancy and very few are true Class-A. Katy Medical Plaza will sit in a growing healthcare hotspot: Methodist, Texas Childrens, and Christus are nearby, and the site is across from land St. Lukes recently bought. (It will make for a pretty competitive inter-hospital softball league.)
Phase 1 of Katy Medical Plaza will deliver in July, and Tim tells us Phase 2 will likely kick off by Q1 14. Tim says hes talking to small acute care hospitals, surgery centers, and several ER groups, and we may see one of the buildings go single-tenant. He says Jacob White offers doctors a chance to invest in the project, which is a big plus for physicians looking for revenue. And unlike many locations in the Katy area, there are no medical restrictions on this site. One last appeal: Jacob White is building a road with direct access to I-10.
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