Tannos starts infrastructure for $750M town center in Friendswood

Will feature 350K sf of commercial space, apartments and hotel, 52 acres of park land

Tannos Starts Infrastructure for $750M Friendswood City Center

A photo illustration of a rendering of the Friendswood City Center at FM 528 and Blackhawk Boulevard (Getty, Diamond Development Group)

Tannos Development Group is targeting a southeast Houston suburb for a large mixed-use development.

Tannos, in partnership with Wolfgramm Capital, will soon start construction on publicly funded infrastructure for Friendswood City Center, a $750 million mixed-use project spanning 106 acres along FM 528. It is set to become the largest mixed-use development in Friendswood, the Houston Business Journal reported

The 54-acre district is slated for 150,000 square feet of retail space, 200,000 square feet of medical and office space and a 500-unit apartment complex. A 150-room boutique hotel with a restaurant and 5,000-square-foot convention center are also planned.

The other half of the project will comprise a 52-acre public park that will be donated to the city of Friendswood. It’s set to include 4.2 miles of trails, a fishing lake with a pier, parking and public restrooms.

The infrastructure work includes an extension of Blackhawk Boulevard to connect FM 528 with West Bay Area Boulevard. 

Sign Up for the undefined Newsletter

All 12 commercial parcels in the development are “spoken for” by other developers, Louis Tannos, owner and president of Tannos Development Group, told the outlet. The names of the other developers weren’t reported.

“We formulated partnerships with other developers rather than take eight years to do this by myself,” Tannos told the outlet. “That way, I can build it all at one time, and all the vertical value goes up instead of causing chaos and piecemealing the whole thing.”

Read more

A photo illustration including a rendering of One Sixty One in Friendswood (bottom) as well as the NASA Space Center in Houston (top right) (Getty Images, Dunham-Bush, Page Southerland Page, City of Friendswood)
Development
Houston
Long-awaited mixed-use development to finally touch down in small astronaut town
Hillwood Fashions “Modern Ranch” Master Plan in League City
Development
Houston
Hillwood makes “modern ranch” its master plan in League City 
Ashita Investments' Sammy Virani and 500 Baybrook Mall
Commercial
Texas
Ashita acquires $40M retail portfolio

Tannos and Wolfgramm, operating as Madison Development Corporation, purchased the 106-acre property from Clear Creek Community Church in February. The project is expected to take three years to complete.

Funding for the development’s infrastructure will stem from tax increment reinvestment zone bonds and public improvement district bonds. A planned unit development designation was secured through cooperation with the city, Tannos said. 

—Quinn Donoghue 

Recommended For You