A massive mixed-use development is headed to Magnolia, but a water shortage could halt construction.
The 95-acre project, called Magnolia Crossing, is set to include 550 residences, a retail center, restaurants, walking trails, medical space and childcare services, the Houston Chronicle reported. It will be located near the Mill Creek subdivision, in the town northwest of Houston.
The developer, an LLC tied to Charlotte, North Carolina-based Red Hill Ventures, struck an agreement with Magnolia officials recently. The site will be annexed into the city to generate additional property and sales tax revenue.
Magnolia Crossing will feature more than 200 single-family homes and 300 luxury apartments. A grocery store or a fitness center will serve as the anchor tenant of the retail center.
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Red Hill will have to be patient, though. In December, Magnolia officials enacted a moratorium on new residential and commercial developments due to a water shortage. The city has five water wells, and it’s planning to build more this year.
The city extended the moratorium by 120 days recently, the third time it has been extended.
Red Hill representatives tried to land an agreement with the city of Magnolia in April 2022, before the moratorium was issued, according to Red Hill’s Kevin Mokos. However, the company was told that no water connections could be guaranteed until 2024.
—Quinn Donoghue