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Simon Property Group breaks ground on Fairfield Town Center development


Simon Property Group breaks ground on Fairfield Town Center development

Courtesy of Northwest Houston Impact News

According to Edge Realty Partners—the company managing the development—the completed town center will consist of more than a dozen pad sites, several retail and dining options, and a 12-acre multi-family housing development. Upon completion, the town center will add nearly 550,000 square-feet of new retail, commercial and dining options.

“We do have about seven pad sites under contract between the outlet mall and H-E-B,” said Sara Schoonaert with Edge Realty Partners. “The parcel of land beside the H-E-B—minus the small retail space which Simon is building—is under contract to an apartment developer.”

The initial proposed site plan provided the option for a potential hotel development near Mason Road, but the 294-unit apartment complex under contract will likely be constructed in its place.

H-E-B Development purchased the land within the proposed Fairfield Town Center nearly a decade ago and plans to develop additional pad sites along the Hwy. 290 corridor.

Details of future tenants could not be released, but Simon Property Group has spoken with several sit down and fast food restaurants, retailers and at least two banking concepts to open locations within the development by summer 2013.

“There is activity out there,” Schoonaert said. “There will be more places to eat and shop in the near future.”

Plans for the Fairfield Town Center were presented as early as 2007, but a struggling economy and lack of tenant demand caused delays in the project. As the economy continues to improve, however, the demand from local and national retailers is once again on the rise.

The Hwy. 290 corridor adjacent to the planned town center sees an average of nearly 67,000 vehicles per day, and the center will serve the growing community of Fairfield and the surrounding area. With the ongoing construction of the Grand Parkway and increased accessibility, the area is primed for the new development, Schoonaert said.

“The draw to [master-planned communities] has always been about the ability to stay in the community for most of your family’s lifestyle,” said Peter Houghton, vice president of Bridgeland. “The latest repetition in terms of the current market is that residents like to see mixed land use. In recent years, the emphasis on providing village centers and walkable areas are the kinds of venues that have become more important.”

The master-planned community of Fairfield has seen numerous developments in recent years as it comes closer to build-out. There are nearly 5,000 homes in the community, a new grocery store and a large-scale apartment complex, which is under construction. The addition of a town center will bring nearly 550,000 square-feet of retail and dining options.

“The vast majority of Fairfield’s commercial property has already been sold to developers,” said Tim Fitzpatrick community development manager with Friendswood Development Company. “I would assume the majority of this property will be developed as retail, as a lot of the apartment demand along the corridor is, and will continue to be met by [nearby] existing and developing apartment complexes. Maket conditions and market demand will determine future developments.”


Homes For Sale in Cypress

See all Cypress Just Listed.
(all data current as of 4/23/2014)

  1. 5 beds, 4 full, 1 part baths
    Home size: 6,058 sq ft
    Lot size: 32,753 sqft
    Year built: 2006
    Parking spots: 3
    Days on market: 1
    Listed with Mission Real Estate Group
  2. 5 beds, 4 full, 1 part baths
    Home size: 4,931 sq ft
    Lot size: 14,968 sqft
    Year built: 2014
    Parking spots: 4
    Days on market: 1
    Listed with Perry Development Management
  3. 6 beds, 4 full, 1 part baths
    Home size: 4,522 sq ft
    Lot size: 8,201 sqft
    Year built: 1983
    Parking spots: 3
    Days on market: 1
    Listed with Hearthstone Realty
  4. 3 beds, 2 full baths
    Home size: 2,327 sq ft
    Lot size: 7,150 sqft
    Year built: 2014
    Parking spots: 2
    Days on market: 1
    Listed with Princeton Classic Homes
  5. 5 beds, 3 full, 1 part baths
    Home size: 3,655 sq ft
    Lot size: 9,125 sqft
    Year built: 2010
    Parking spots: 2
    Days on market: 1
    Listed with BHGRE Gary Greene
  6. 4 beds, 3 full, 1 part baths
    Home size: 2,947 sq ft
    Lot size: 7,150 sqft
    Year built: 2014
    Parking spots: 2
    Days on market: 1
    Listed with Princeton Classic Homes
  7. 3 beds, 2 full, 1 part baths
    Home size: 2,973 sq ft
    Lot size: 8,261 sqft
    Year built: 2005
    Parking spots: 2
    Days on market: 1
    Listed with Coldwell Banker United, REALTORS, Cy-Fair Office
  8. 4 beds, 3 full, 1 part baths
    Home size: 2,932 sq ft
    Lot size: 14,918 sqft
    Year built: 1987
    Parking spots: 3
    Days on market: 1
    Listed with Heritage Texas Properties
  9. 4 beds, 3 full, 1 part baths
    Home size: 2,783 sq ft
    Lot size: 8,069 sqft
    Year built: 2000
    Parking spots: 2
    Days on market: 1
    Listed with United Real Estate
  10. 3 beds, 2 full, 1 part baths
    Home size: 2,548 sq ft
    Lot size: 13,296 sqft
    Year built: 1994
    Parking spots: 2
    Days on market: 1
    Listed with RE/MAX Vintage
  11. 4 beds, 3 full baths
    Home size: 2,500 sq ft
    Lot size: 8,140 sqft
    Year built: 1979
    Parking spots: 2
    Days on market: 1
    Listed with Keller Williams Realty Greater Northwest
  12. 5 beds, 2 full, 1 part baths
    Home size: 2,489 sq ft
    Lot size: 7,872 sqft
    Year built: 1985
    Parking spots: 2
    Days on market: 1
    Listed with Realm Real Estate Professional
  13. 4 beds, 2 full, 1 part baths
    Home size: 3,140 sq ft
    Lot size: 5,670 sqft
    Year built: 2001
    Parking spots: 2
    Days on market: 1
    Listed with Giraffe Realty
  14. 3 beds, 2 full baths
    Home size: 2,130 sq ft
    Lot size: 6,764 sqft
    Year built: 2006
    Parking spots: 2
    Days on market: 1
    Listed with Realty Associates
  15. 4 beds, 3 full, 1 part baths
    Home size: 3,391 sq ft
    Lot size: 8,380 sqft
    Year built: 2011
    Parking spots: 3
    Days on market: 2
    Listed with Realty Associates
  16. 4 beds, 3 full, 1 part baths
    Home size: 3,332 sq ft
    Lot size: 8,593 sqft
    Year built: 2000
    Parking spots: 2
    Days on market: 2
    Listed with Keller Williams Realty
  17. 5 beds, 1 full, 3 part baths
    Home size: 3,480 sq ft
    Lot size: 6,232 sqft
    Year built: 2014
    Parking spots: 2
    Days on market: 2
    Listed with Keller Williams Signature
  18. 4 beds, 3 full baths
    Home size: 2,840 sq ft
    Lot size: 12,720 sqft
    Year built: 2001
    Parking spots: 3
    Days on market: 2
    Listed with Realty ONE Group-Lone Star
  19. 4 beds, 2 full, 1 part baths
    Home size: 2,703 sq ft
    Lot size: 43,560 sqft
    Year built: 1974
    Parking spots: 2
    Days on market: 2
    Listed with O'Hara & Company Real Estate
  20. 4 beds, 2 full, 1 part baths
    Home size: 2,986 sq ft
    Lot size: 9,471 sqft
    Year built: 1989
    Parking spots: 2
    Days on market: 2
    Listed with RE/MAX Realty Center
  21. 3 beds, 2 full baths
    Home size: 1,808 sq ft
    Lot size: 5,800 sqft
    Year built: 2014
    Parking spots: 2
    Days on market: 2
    Listed with Keller Williams Signature
  22. 4 beds, 2 full, 1 part baths
    Home size: 2,376 sq ft
    Lot size: 8,760 sqft
    Year built: 2006
    Parking spots: 2
    Days on market: 2
    Listed with Prudential Premier Properties REALTORS
  23. 3 beds, 2 full baths
    Home size: 2,240 sq ft
    Lot size: 10,130 sqft
    Year built: 2004
    Parking spots: 2
    Days on market: 2
    Listed with Mark Maniha RealEstate Experts
  24. 3 beds, 2 full baths
    Home size: 1,787 sq ft
    Lot size: 7,510 sqft
    Year built: 2001
    Parking spots: 2
    Days on market: 2
    Listed with RE/MAX Realty Center
  25. 3 beds, 2 full baths
    Home size: 2,164 sq ft
    Lot size: 14,645 sqft
    Year built: 1997
    Parking spots: 3
    Days on market: 2
    Listed with Keller Williams Professionals

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 

About Jim Mulholland

Jim Mulholland is the broker of Mulholland Realty.  He has been a REALTOR in the Cypress, TX area since 2005 focusing mainly on the larger master planned communities in the area such as Blackhorse Ranch, Bridgeland, Coles Crossing, Fairfield, Longwood Village, Northlake Forest, Rock Creek, Stone Gate, and Towne Lake. Call Jim at 713-446-1018 to discuss your real estate needs! View all posts by Jim Mulholland
 

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