Commercial Development Ramps Up in Cypress

This article by Marie Leonard was originally published on CommunityImpact.com.

 

Several commercial development projects are underway in Cy­Fair’s master­planned communities that developers hope will transform the landscape of the community into a regional destination.

Residential growth in the Cypress area has driven much of the demand for additional retail infrastructure, said Randy Corson, vice president of Mischer Investments, the developer of Cypress Creek Lakes.

“All the things residents want and need are coming here,” he said. “I think the retail and commercial development is coming in because of the needs of the families living in this area.”


Filling a void

Caldwell Companies, the developer of master­planned community Towne Lake, is making progress on two mixed­use projects this year: the Boardwalk at Towne Lake and Cypress Crossing.

The Boardwalk at Towne Lake will feature both retail and office space in four buildings along with a central green area at the forefront of Towne Lake, near the corner of Barker Cypress and Tuckerton roads.

“It will be a great place for families to gather and have a place to go eat, shop or dine in the neighborhood,” said Miranda Hadamik, Vice President of Investments for Caldwell Companies. “There will be 20 boat slips, so residents can ride their boat to go to dinner, go shopping or get their nails done.”

Hadamik said the project will be a draw for the entire Cypress region because of its location on the water. Outdoor activities are also being planned for the weekend at the central green space.

“We wanted to create a sense of place in Cypress that was lacking in the community,” Hadamik said. “We wanted a central location for people to come and gather.”

Caldwell Companies plans to deliver spaces to retail and dining tenants in July, allowing businesses time to build out their space and open by the third or fourth quarter of 2015.

Farther south in Cy­Fair, Caldwell Companies is wrapping up design work on its Cypress Crossing project at the corner of FM 1960 and Hwy. 290. Although plans are still being conceptualized for the project, the 15­acre site could entail 460,000 square feet of office space, 60,000 square feet of retail, 330 multifamily units, a hotel and a central green area.

“We’re calling it Cypress Crossing because it’s at the center of Cy­Fair ISD, and it is at a major intersection with two heavily traveled roads,” Hadamik said. “We also see a lack of event and meeting space in the area, so we’re hopeful we can get the right hotel user in there. I think the whole team is excited to see dirt start moving and see these projects come online. It’s been an exciting process.”

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Additional reporting by Matt Stephen