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MAGNOLIA, TEXAS — Locally based firm Tannos Development Group will build a $1 billion mixed-use project in Magnolia, a northwestern suburb of Houston, according to reports from news outlets such as The Houston Chronicle and the Houston Business Journal. According to the former publication, Magnolia Town Center will feature a nationally branded luxury hotel, a 350-unit multifamily complex, single-family residences and 250,000 square feet of retail space, as well as office, healthcare, entertainment uses and open green spaces. Local CBS affiliate KHOU also reports that the site spans 200 acres and that Tannos is developing the project in partnership with Arizona-based Maritia LP.