Skip to main content

Potential Development Could Spur More Economic Activity in The Woodlands

Published Nov 18, 2022 by Brina Morales

Concept rendering of The Woodlands Mall expansion

Concept rendering of The Woodlands Mall expansion (Courtesy: The Woodlands Township)

Two new hotels and more shopping could be headed to The Woodlands as the area continues to see growth. 

The Woodlands Mall wants to expand with a minimum of 80,000 square feet of new retail space in an open-air, mixed-use commercial area that would also include a full-service hotel with at least 200 rooms, a select-service hotel with at least 125 rooms and a multi-level parking garage. The mixed-use project would be located south of Macy’s near the movie theater and be developed in two phases. The total area encompasses 15 acres.

Concept rendering of The Woodlands Mall expansion
Concept renderings of The Woodlands Mall expansion (Courtesy: The Woodlands Township)

concept rendering of The Woodlands Mall expansion

 

The Woodlands Township recently entered into an economic development agreement with The Woodlands Township Economic Development Zone and The Woodlands Mall Associates, LLC. The project would be in an economic development zone, which spurs economic growth and job creation.  

According to documents from The Woodlands Township, depending on the scale of the project, it is estimated to generate anywhere from $180 to $275 million, based over a 30-year term. The range is based on whether the developer decides to build a smaller or larger parking garage. The township would receive more than 70% of the generated revenue and the mall would receive the remainder. The agreement also calls for the reimbursement of the parking garage costs up to $80 million.

The developers have not announced when construction on the project would begin. The Woodlands Mall will decide if and when they will move forward with the plan.

The Woodlands area has recently seen more economic development wins. Cellipont Bioservices recently broke ground on its new headquarters and manufacturing facility in the Research Forest area after announcing earlier this year it was moving from California to Texas. SI Group Inc. also announced earlier this year that it’s moving its global headquarters from New York State to the Hughes Landing complex.

The Woodlands area has seen substantial population growth over the past decade. From 2011 to 2021, Montgomery County’s population grew more than 37% to 648,886 people.
 

Learn more about Montgomery County's rapid growth, business developments and future plans during the Partnership's Future of the Houston Region event on Dec. 13.

Related News

Quality of Life

MacGregor Park’s Transformative Renovation Project Secures $10M Federal Grant

10/21/24
Houston’s MacGregor Park has been awarded a $10 million grant from the U.S. Department of the Interior to support the park’s groundbreaking renovation project.  The grant comes from the department’s Outdoor Recreation Legacy Partnership program, which provides funding to enhance parks in economically underserved communities.  The City of Houston Parks and Recreation Department (HPARD) and the Houston Parks Board (HPB) unveiled plans for the $54 million renovation project last year, following a $27 million donation from the Kinder Foundation and years of community feedback. This initiative, which is part of the 65-acre park’s master plan, aims to improve the quality of life for residents in Houston’s Third Ward neighborhood, reinforcing the park’s importance as a community hub.  “MacGregor Park has been an important greenspace in our community, and this investment underscores the City’s commitment to provide high-quality greenspaces to all Houstonians,” said Kenneth Allen, Director of HPARD, in a statement. “The planned renovations will not only preserve the park's rich legacy but also enhance its role as a vital hub for recreation, culture, and community connection.”  The master plan includes major improvements to the park, such as upgrading the Homer Ford Tennis Center with state-of-the-art tournament-hosting capabilities, and renovations to both the swimming pool and community center. The park's trail system will be extended by 1.25 miles, connecting it to the Bayou Greenways trail along Brays Bayou, which is part of a network of over 150 miles of trails throughout the city. Additionally, a new amphitheater will be built near the bayou for events and gatherings, along with an ADA-accessible playground.  The internationally acclaimed Hood Design Studio was selected to lead the project earlier this year. Design work is already underway, with construction set to begin late next year. Creative Director Walter Hood shared that the firm seeks to blend nature into the park’s design, incorporating native plants and other naturistic elements.   “Situating this park within nature is an aspect that many other parks in Houston have benefitted from, but to date, MacGregor has not,” Hood states. “Together, we are committed to creating a revitalized space that enhances MacGregor Park as a beloved community space, that is idiosyncratic, embraces difference, and tells a unique story.”  The $10 million grant brings the project’s public funding total to $24.5 million, bolstered by contributions from the City of Houston, its Tax Improvement Plan, Tax Increment Reinvestment Zone 7 and former U.S. Representative Sheila Jackson Lee. Generous donations have also been made by the Brown Foundation and Texas Children’s Hospital.   Learn more about Houston’s parks and green spaces. 
Read More
Economic Development

Greater Houston Partnership Receives 2024 Excellence in Economic Development Award

8/28/24
The Greater Houston Partnership received a 2024 Excellence in Economic Development Bronze Award from the International Economic Development Council (IEDC). The award was bestowed specifically for the Partnership’s work in the regional or cross-border partnership for regions with 500,000 or more residents.  The strategy formed in partnership with regional allies, as elaborated in the regional playbook, aims to enhance regional economic development in greater Houston by fostering collaboration and coordination among stakeholders. This involved creating a framework for the Houston Regional Economic Development Alliance (HREDA) to maximize engagement and support.  Formed in 2006, HREDA is comprised of economic development organizations and municipalities interested in creating jobs and investment to maintain a positive business environment. HREDA meets monthly at Partnership Tower, and often at other locations around the region. Hosted monthly at Partnership Tower and other regional sites, HREDA meetings include members from 98 economic development organizations, representing over 160 full-time economic development professionals.  The project's uniqueness and innovation reside in member involvement at every stage, ensuring ownership of the final playbook. It addressed previous collaboration deficits noted in studies, aiming to leverage regional resources for economic growth. The scale of marketing the region is no small feat. Covering 8,838 square miles, the 12-county Greater Houston region, with its centerpiece, the 10-county Houston-Pasadena-The Woodlands MSA, surpasses an area the size of New Jersey,  Despite this vast expanse, the region's stakeholders have rallied together as allies, streamlining processes to attract prospective companies. This collective effort reflects a shared commitment to securing victories for the region's economic growth. “I am proud to be a part of an organization, such as HREDA, that exemplifies how regionalism and collaboration can drive economic success and set high standards for regional development,” HREDA Chair and Chief Economic Development Officer at Partnership Lake Houston Stephanie Wiggins said. “By uniting various stakeholders under a common goal, HREDA leverages the strengths of the Houston region to create a prosperous and sustainable economic environment." Every year IEDC looks specifically for economic development organizations, government entities, initiatives, and programs that have demonstrated consistent, exemplary performance in the economic development profession, leading the execution of projects that have a significant impact on revitalizing communities, and playing a major role in shaping and improving the practice of economic development. “This group understands what it means to succeed together," Greater Houston Partnership President and CEO Steve Kean said. “When we work together as one to combine the expertise, assets and capabilities of our regional partners, the Houston region is unmatched in potential. Through this mindset of regionalism, we can create a more prosperous and inclusive future for all of our citizens.” Learn more about the 12-county region the Partnership represents.  
Read More

Related Events

Airports

State of the Airports

The Greater Houston Partnership invites you to the State of Airports on Tuesday, December 5, as Jim Szczesniak, Director of Aviation, outlines the next history-making chapter for Houston Airports.  Szczesniak…

Learn More
Learn More
Executive Partners