A Houston real estate firm has purchased 112 acres in Sugar Land with plans to develop shops, restaurants, offices and a hotel in this quickly growing Fort Bend County town.
The project, to be known as the Crossing at Telfair, will be at the southwest corner of Highway 6 and U.S. 90 in Telfair, a master-planned community that is expected to have up to 4,500 homes.
The developer, Weaver, Davis & Jacob Realty Group, said the commercial project will have some 700,000 square feet of retail, office and medical space, along with a full-service hotel.
The company doesn't have tenants yet, but it's starting to negotiate with companies to lease or purchase space there. If all goes well, construction should start this winter.
Sugar Land's upscale demographics and the number of new rooftops planned for the area should help the developers lease or sell retail space in the project, said George Craft, a partner at the Porter & Hedges law firm, which represented the buyer in the transaction.