**$1 Billion Mixed-Use Development Coming to Magnolia, Texas**
Tannos Development Group and Maritia are partnering to develop Magnolia Town Center, a 200-acre mixed-use project located between FM 1774 and FM 1488 in Magnolia, Texas.
According to the Houston Business Journal, the joint venture plans to invest over $1 billion into the ambitious development. Preliminary plans for Magnolia Town Center include a nationally branded luxury hotel featuring a full-service restaurant, bar, and convention space capable of accommodating up to 1,500 attendees. The project will also offer:
– 250,000 square feet of retail space
– 200,000 square feet of medical and office space
– 400,000 square feet of mixed-use hospitality and multifamily space
– A 350-unit apartment complex
– A mid-rise senior living community
– Single-family homes
– Pad sites for additional development
– Amenities and multilevel parking facilities
Groundbreaking is targeted for the first quarter of next year.
Magnolia is one of the fastest-growing cities in Texas. U.S. Census Bureau data shows that the city’s population surged from 2,414 residents in 2020 to an estimated 6,506 residents as of July 2024—a growth of approximately 169.5% in just four years. This rapid population increase underscores the demand for expanded residential, commercial, and hospitality infrastructure in the area.
