Houston: CityCentre sketches office, retail, apartmentsHouston: CityCentre sketches office, retail, apartmentshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=29082014-10-02T12:26:00Z2014-10-02T00:00:00Z

HOUSTON - The developer of west Houston's CityCentre has acquired more than six adjacent acres for a major expansion that will bring the northern boundary of the high-end mixed-use complex all the way to Interstate 10 for the first time.

The expansion will include a 13-story apartment building, two 16-story office towers, 22,400 sf of retail space and one acre of open green space.

"This is pretty big in the sense that we'll create a gateway entrance from I-10," said Shon Link, executive vice president of development for Midway, which built CityCentre.

The multifamily building will add as many as 300 luxury apartments to the project. Rents are expected to average $2 to $2.50 per sf.

The office towers, CityCentre 1 and 2, will add 740,000 sf of upscale commercial space, putting Midway in similar ranks with some of the larger office developers active in the nearby Energy Corridor west of Beltway 8.

Link said Midway will go after a much larger office tenant than what is typically found in the existing CityCentre buildings. The ideal tenant would want at least 200,000 sf, which would amount to around eight floors in one of the new buildings.

Midway will start construction in about a year and complete the new phase in fall 2017. The company, however, will not break ground on the office component without a tenant lined up to take some of the space.

Houston Chronicle
Houston-The Woodlands-Sugar Land
http://www.houstonchronicle.com/business/real-estate/article/CityCentre-expansion-to-include-offices-retail-5789241.phpRead more at {Source}

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