**$1B Mixed-Use Project to Break Ground in Magnolia, Texas**
Tannos Development Group and Maritia are moving forward with plans to develop Magnolia Town Center, an expansive 200-acre mixed-use project located between FM 1774 and FM 1488 in Magnolia, Texas.
According to the Houston Business Journal, the estimated total investment in the development is expected to exceed $1 billion.
Preliminary plans for Magnolia Town Center include a wide array of features and facilities:
– A nationally branded luxury hotel with a full-service restaurant, bar, and convention space capable of hosting up to 1,500 attendees
– 250,000 square feet of retail space
– 200,000 square feet of medical and office space
– 400,000 square feet of mixed-use space incorporating hospitality and multifamily residential units
– A 350-unit apartment complex
– A mid-rise senior living community
– Single-family homes and developed pad sites
– Recreational amenities
– Multilevel parking structures
The developers aim to break ground on the project in the first quarter of next year.
Magnolia, one of the fastest-growing cities in Texas, has seen a dramatic population spike over the last few years. According to the U.S. Census Bureau, the city’s population grew from 2,414 in 2020 to an estimated 6,506 by July 2024 — representing a staggering 169.5% increase in just four years.
