U.S. 290 corridor continues to attract more retailers
Cypress and other communities in northwest Houston are seeing a mini boom as retailers and commercial investors move to develop large tracts of land into prime retail space.
Last year, Mischer Investments and Smithco Development opened segments of Cypress Creek Plaza that included the 100,000 square foot H-E-B store at Tuckerton and Fry Roads.
In August, the remainder of the 11-acre shopping center opened and began filling up quickly and is nearly 80 percent leased.
“Smithco agreed it would be a great location for retail development especially since future residential communities and retail centers were moving into the area…,” said Megan Ferby, leasing and marketing director for Smithco Development. “Cypress Creek Lakes backs up into the center, and there is Towne Lake…which has 3,000 homes, and of course Bridgeland has 20,000 homes.”
Other nearby subdivisions include Ersa Grae with 3,100 homes; Mirabella, which has 925 homes; and Stonegate with more than 1,800 homes.
Some of those tenants include Zaxby’s Chicken, Nails of America, Saporro Sushi, Under my Pillow (Pediatric Dental), Sports Clips, and Natural Pawz.
Retail spaces at Cypress Creek Plaza are expected to be completely full before the end of the year.
The Boardwalk at Towne Lake, which has become a hub of retail and restaurant activity in Cypress complete the first phase late last year, and began signing tenants for their grand opening in April.
In 2011, Caldwell Companies began development of the Boardwalk, a mixed-use project that will features a host of dining options, retailers and office space, all of which is situated along the man-made waterfront in Town Lake.
Miranda Hadamik, vice president of investments for Caldwell Companies, has been involved with the project since the very beginning.
“This is 120,000 square feet of first floor retail and second floor office, and we’ve got some room for future (expansion) there as well,” she said.
Residents in Town Lake who live on the waterfront have the luxury of boating from their dockside homes to the Boardwalk.
Sonny Howard, leasing agent for the Boardwalk, said they have been approached by a number of different vendors who like the set-up and location, but Caldwell Companies is paying attention to the demands of the public.
“We’ve had a lot of bar and grill concepts approach us, that include some pretty big names who want to be out here,” Howard said. “What we think we need are some soft goods retailers would be a great fit out here. We have some out here who are doing well and we want to continue to build on that success.”
Some of the attractions at the Boardwalk include, Mod Pizza, Land of a Thousand Hills (coffee), Sam’s Boat, Orangetheory Fitness, Laura’s Line Boutique, and the Reserve Salon and Spa.
Meanwhile, Caldwell Companies plans to begin development of phase two of the Boardwalk within the next couple of years.
“We are just brainstorming right now,” Howard said. “We have seen some real nice record-setting numbers from our gyms and several or our restaurants, so to build on that, we think soft goods would be a really good addition.”
Although development of the Boardwalk is still happening, the people who’ve come out have provided plenty of great feedback to Caldwell Companies.
“It’s remarkable because nothing has existed for so long in Cypress that brings the community together and gets people excited, sitting around a greenspace and listening to a band play,” Howard said. “It’s really a phenomenal venue for coming and spending the weekend.”
Retailers are beginning to see the potential of Cypress and have opened several retail centers near U.S. 290 this year.
The Boardwalk: Located in Towne Lake, phase one of the retail center was developed in 2011, and opened early 2016. Includes restaurants, shops and wellness centers. Phase two is currently under development.
Cypress Creek Plaza: Located at the confluence of Tuckerton, Barker-Cypress and Fry Roads. The 11 acre tract opened in August and is anchored by H-E-B and includes restaurants, shopping and wellness centers