**$1B Mixed-Use Development Planned for Magnolia, Texas**
Tannos Development Group and Maritia have announced a joint venture to develop Magnolia Town Center, a dynamic new mixed-use development spanning 200 acres between FM 1774 and FM 1488 in Magnolia, Texas.
With an estimated investment exceeding $1 billion, the project will transform the fast-growing city by introducing a wide array of commercial, residential, and hospitality offerings. Preliminary plans for Magnolia Town Center include:
– A nationally branded luxury hotel featuring a full-service restaurant, bar, and convention space with capacity for up to 1,500 guests
– 250,000 square feet of retail space
– 200,000 square feet dedicated to medical and office use
– 400,000 square feet of mixed-use space combining hospitality and multifamily residential units
– A 350-unit apartment complex
– A mid-rise senior living facility
– Single-family residences
– Various pad sites for future development
– Onsite amenities and multilevel parking structures
Developers plan to break ground on the project in the first quarter of next year.
Magnolia has emerged as one of Texas’ fastest-growing cities. According to the U.S. Census Bureau, the city’s population soared from 2,414 in the 2020 Census to an estimated 6,506 by July 2024—representing a staggering 169.5% growth in just four years.
The large-scale development is expected to play a pivotal role in meeting the community’s expanding residential and commercial needs while positioning Magnolia as a regional destination for business, healthcare, and leisure.
