Fort Bend County's massive mixed-use development will grow even larger in the coming years. NewQuest Properties announced that it will add 109 acres to Fort Bend Town Square, paving the way for new residential and retail construction.
The new deal, dubbed Phase Three, includes an 86-acre tract that gives NewQuest control of three corners at the intersection of TX 6 and the Fort Bend Parkway. Located approximately 15 miles from the Texas Medical Center, NewQuest's sale of 23-acres to Sueba USA Corp. will pave the way for construction on four, four-story apartment buildings that will feature amenities such as courtyards, walking trails, and swimming pools.
"There are many medical professionals of all ages who want high-end, urban-style units outside the city versus what's historically been available," NewQuest senior associate Andrew Alvis said in a statement. "We plan to fulfill that demand while also putting bodies on the ground to further support our retail, restaurant and entertainment tenants."
Negotiations are underway with potential restaurant and retail tenants for phase three's 200,000 square feet of space. Earlier this month, NewQuest announced that Fort Bend Town Square's phase two would be anchored by a 12-screen Cinemark Theater.
Phase one of the project includes stores such as Kroger and Petco as well as a number of fast food restaurants.
Overall, the three phases cover approximately 180 acres and 1 million square feet, which positions Fort Bend Town Square as a top shopping destination in Missouri City. NewQuest's three phases are being touted as the commercial heart of Missouri City.
"Fort Bend Town Center will be one of the largest mixed-use developments at completion west of the Medical Center," Alvis said.