KATY, TEXAS — NewQuest, a local commercial real estate development and services firm, has broken ground on the multi-tenant retail component of Texas Heritage Marketplace, a $400 million mixed-use development in Katy, a western suburb of Houston. The project represents the largest cluster of retail space in the history of Waller County, according to NewQuest.
“As it stands, Waller and surrounding rural counties have been unserved by major retailers,” says Austin Alvis, president and chief development officer for NewQuest. “Texas Heritage Marketplace will fill in that gap.”
Situated in the center of Texas Heritage Marketplace, the retail space that is now under construction is leased to tenants including Academy Sports + Outdoors (51,068 square feet), Burlington (22,147 square feet), Spec’s Fine Wines & Spirits (16,806 square feet) and Ulta Beauty (10,000 square feet). NewQuest plans to deliver the junior retail anchors in first-quarter 2027.
The groundbreaking also includes Heritage Grove, a green space component that will span five acres at the center of the development. The park-like common space will be surrounded by the junior retailers and an additional 35,000 square feet of retail space planned for restaurants and service retailers, as well as a 40,000-square-foot EoS Fitness location. NewQuest plans for Heritage Grove to have the same delivery timeline as the junior retail spaces.
Texas Heritage Marketplace also includes a handful of big-box retail buildings for Lowe’s Home Improvement, Target and an unnamed membership-based wholesale club. These buildings are in various stages of construction and are slated to open on a staggered schedule beginning in September.
Also underway are retail outparcels for Olive Garden, Chase Bank and Whataburger, as well as a 10,000-square-foot, multi-tenant building leased to James Avery, Mattress Firm and The Kebab Shop. Other committed retailers and restaurants include Tex-Mex restaurant Escalante’s (5,005 square feet), pizzeria Tony C’s (4,900 square feet), Japanese food concept Aji Izakaya (2,800 square feet) and confectionary Kilwin’s (1,400 square feet).
David Meyers and Bob Conwell of NewQuest have leased more than 90 percent of the retail space within Texas Heritage Marketplace in the past 18 months. At full build-out, the development will comprise 800,000 square feet of commercial space, including a 50,000-square-foot medical office component that will be leased to a major health system, and 550 upscale apartments.
The design-build team includes California-based AO (architect of record) and Houston-based Arch-Con Corp. (general contractor), which is handling the multi-tenant retail component and site work.
At 165 acres, Texas Heritage Marketplace is the largest development site on the I-10 corridor in west Katy, according to NewQuest. The property will have 2,200 square feet of linear frontage along the newly completed Texas Heritage Parkway and 2,900 feet of frontage on I-10, as well as new entrance and exit ramps for the interstate.
NewQuest plans for the overall development to attract 9 million visitors per year.
Founded in 2001, NewQuest owns a portfolio encompassing more than 100 retail and mixed-use projects exceeding 12 million square feet of commercial space. The portfolio is concentrated in Texas, Louisiana, Arizona and Georgia.
— John Nelson