NewQuest Properties Developing 36-Acre Kroger-Anchored Center in League City
October 12, 2015
HOUSTON – NewQuest Properties will be going vertical in mid-November on the first phase of Marketplace at Ninety-Six, a Kroger-anchored development on 36 prime acres in League City.
Site work is underway at the intersection of TX 96/League City Parkway and Hobbs Road, less than one mile west of Interstate 45. The first phase, totaling $14.8 million, will be positioned on 19.1 acres at the northeast corner of the intersection. The 123,000 SF Kroger Marketplace and 25,900 SF of small shop space are slated to open in October 2016.
Western League City has become a development hotspot, with the completion of infrastructure projects geared toward facilitating new growth. “Marketplace at Ninety-Six will sit in front of 6,000 homes and close to four schools in the Clear Creek Independent School District,” says Rebecca Le, a vice president with Houston-based NewQuest. Her marketing partner for the project is Heather Nguyen, director of third-party leasing and business development.
Marketplace at Ninety-Six is going up two miles north of the first Cabela’s in South Texas and midway between downtown Houston and Galveston Bay. The project site also neighbors a YMCA with 2,600 families on its membership roster. The average annual household income is $109,648 and the median age is 33 in the two-mile trade area. Key to the site’s development strength is its location in Clear Creek ISD, a top-ranked educational system attractive to a growing residential population with disposable incomes. NerdWallet, a free tool for personal decision-making, ranks League City as eighth on its “Best Places to Live in Texas” list.
“This site is superior geographically and demographically,” Le emphasizes. “Marketplace at Ninety-Six’s competitive edge in the fast-growing corridor will be its visibility and accessibility for residents en route to work or coming home.”
To date, Great Clips, Nail Bar of Texas and Chinese restaurateur T Jin’s have preleased in-line space. The tenant base will be focused on community needs, including quick-service and casual dining restaurants, medical services and financial institutions.
The retail opportunity in phase one includes two pad sites, each roughly one acre. Phase two has been designed with six pad sites, each averaging one acre. The groundbreaking for phase two – 18.9 acres on the southeast corner – will be 2017.
Osborn & Vane Architects Inc. of Houston designed Marketplace at Ninety-Six. The Houston-based project team also includes Charles Bridges of CMB Landscape Architecture and Arch-Con Corp., the general contractor.