College Station: 200,000-SF plus Century Square underwayCollege Station: 200,000-SF plus Century Square underwayhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=24592014-11-14T13:40:00Z2014-11-14T06:58:00Z

COLLEGE STATION - Century Square, a mixed-use development, is underway along University Dr. It will feature more than 200,000 sf of shopping, dining and entertainment space as well as two hotels, a modern office building, a mid-rise apartment complex and parking structures.

The complex is being developed by Midway Cos., a Houston-based real estate investment and development firm.

During its first phase of development, Midway plans to build nearly a dozen mid-rise buildings on 20 to 30 acres, leaving about half of the property for future development. Century Square will have a large green plaza for public concerts, events and Aggie tailgates.

On a two-acre tract on the south side, Midway plans to build a 90,000-sf Class A office building with a conference center and open-air gathering space.

Office lease prices, which are expected to be low to mid $20 per sf, will exceed current market prices.

In the center of the project, Midway has partnered with Valencia Group to build two full-service, boutique hotels modeled after Hotel Sorella at CityCentre: The George (160 rooms) and Cavalry Court (140 rooms).

On the north end of the complex, Midway is planning a multifamily project. The four-story, 250-unit apartment complex will feature two courtyards with a pool and fitness center.

The units will average about 880 sf. Monthly rents will exceed the market at about $1.50 to $1.90 per sf, or about $1,672 for an average unit.

Midway plans to break ground on the multifamily project in January 2015. It will take 16 to 18 months to complete.

The hotels will break ground in March and take 13 to 14 months to build. The first phase of development is expected to be delivered by summer 2016.

Read more at the Houston Business Journal.

Houston Business Journal
College Station-Bryan
http://www.bizjournals.com/houston/morning_call/2014/11/first-look-citycentre-developers-embark-on-major.htmlRead more at {Source}

 Search NewsTalk Texas