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A Publication of Guidry News Service |
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A Publication of Guidry News Service |
The City of Friendswood has issued a news release detailing recent economic development activity. "From office buildings and shopping centers to retail outlets and mixed-use developments, the city of Friendswood is currently managing 10 new commercial projects with a combined property value of $25 million," said the release. "The 10 projects total more than 168,000 square feet." The projects include: South Friendswood Square, a 14,245-square-foot retail center located on 1.5 acres of land on FM 528 next to H-E-B. This $1.4-million project will soon be underway and is slated for completion in late 2005. Pecan Plaza is a 12,000-square-foot office building and retail center located on one acre at the intersection of FM 2351 and Pecan Drive. With an estimated building value of $400,000, this building is slated for completion by late 2005. Raton Plaza is a $5 million, 34,000-square-foot retail center that will sit on 4.25 acres along FM 528 at Sunmeadow Boulevard. The project should be completed in summer 2005 and will feature numerous retail outlets and eateries. Starbuck’s Coffee will open a 1,800-square-foot location, featuring a drive-thru, on FM 528 at FM 518. The coffee shop will have an estimated building value of $500,000 and will be open for business by early summer 2005. Friendswood Lakes Office Building will be a $3 million building offering 25,000 square feet of office space. It will be housed on 1.4 acres on FM 528 at Friendswood Lakes Boulevard. Development is projected to commence in spring 2005. Primrose School, a private early development center, will soon occupy a 2.5-acre piece of land along Friendswood Drive. A $1.3-million project, the 10,175-square-foot school will be complete by fall 2005. Riley Sherman Shipping Agency is developing a 9,000-square-foot office building and retail center on 1.7 acres along Winding Way. This $1-million project will be complete by summer 2005. Riley will occupy a small office within the building and lease out the remaining space to office and retail tenants. Mary’s Creek Village is a $10-million, mixed-use development that will reside on 9.7 acres along North Friendswood Drive. While still in the early stages of planning and development, when complete, it will feature 21,000 square feet of office space, along with 39 townhomes. Best Storage will construct a 26,297-square-foot storage center on 2.02 acres along FM 528. Valued at $1.6 million, the new location is slated to be open by late 2005. Walgreen’s is building a new 14,820-square-foot location on 1.5-acres at the intersection of FM 518 at FM 2351. This project is valued at $1.31-million and will be complete by late summer 2005. "The 10 commercial developments are helping to diversify the tax base," said Karen Capps, economic development coordinator for the city of Friendswood, adding that it would take 185 new homes to equal the tax revenue that will be generated by these 10 projects. “Quality economic development projects help the city to continue providing its residents with the high level of services and amenities they have come to expect,” Capps said. “Furthermore, the increased development diversifies the tax base and reduces the tax burden of the local homeowner. The year 2005 has started off to be a dynamic one in terms of economic growth, and we look forward to continue the momentum in the months to come.” For more information, call (281) 996-3250 or visit www.ci.friendswood.tx.us. Hyperlinks will work if this document is read Online
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