Realty 1 Partners broke ground this summer on an 11-building residential, retail and office development in Katy, and now its retail spaces are filling up as the development prepares to open in spring 2025.
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The Elyson Town Center is under construction at the intersection of FM 529 and the Grand Parkway, with plans calling for 190K SF of retail and office space, according to Realty 1. The development is within Elyson, a 3,600-acre master-planned community developed by Newland, a branch of Brookfield Properties.
Stores that have signed leases include Shipley Do-Nuts, Smoothie King and Akashi Sushi, Community Impact reported, citing leasing officer Kris Bender. The first stores will open in late spring, Bender said, and the development is also in negotiations with Chipotle, a dentist and a First Watch restaurant.
The development will also include a small number of residences. Four buildings on the site were designed with second-story apartments that will each have 12 to 13 units, Bender said. Another building will offer office space on the second story, while all of the buildings will have retail on the ground floor.
The mixed-use development will include drive-thru spaces and freestanding opportunities, according to Realty 1.
Elyson opened in 2016 and has grown to just under 3,000 homes, but there are plans to expand, Brookfield Properties Marketing Manager Heather Gustafson told Community Impact. The community will have 6,000 homes by 2029, and the town center will give residents nearby options for shopping, she said.
“That’s huge for residents to have things right in their neighborhood, and they don’t have to travel multiple miles or take a toll road,” Gustafson told the outlet.
The immediate area’s retail options are steadily growing. Target opened across the street in 2022, and a new H-E-B intended to serve nearby master-planned community residents in Elyson, Ventana Lakes, King Crossing and Cane Island opened in February.
Fulshear-based Realty 1 Partners filed plans for Elyson Town Center in February and listed an expected cost of $37.1M, The Real Deal reported.
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