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NewQuest’s $90 million Retail Center to Transform 249 Corridor

Published Oct 13, 2023 by Hailea Schultz

The Grand at 249 Development Site

The Grand at 249 Development Site

A $90 million retail center is underway in Tomball at the intersection of state Highway 249 and the Grand Parkway. 

Set for completion by 2025, The Grand at 249 will span 404,256 square feet, making it the largest retail concentration within Houston's northwest submarket, according to Houston-based development and brokerage firm NewQuest properties.  

Situated at the southwestern corner of the Grand Parkway-Highway 249 intersection, the groundbreaking 65-acre development boasts 12 pad sites, with 10 of the sites already committed. Notably, 96% of the space is leased or under negotiation, securing tenants like AT&T, Boomer Jack's, Gringo's, Jersey Mike's, Milano Nails, and Two Pho Nine Asian Fusion.  

The development will be surrounded by master-planned communities and mixed-use projects, including Lovett Industrial's 240-acre Interchange 249, offering 3.1 million square feet of industrial and warehouse space, which will house Macy’s distribution center. 

With large-scale developments like The Grand at 249 and advanced infrastructure thanks to the Grand Parkway driving people and businesses to the city, Tomball continues to see rapid residential growth. Currently, there are nearly 27,000 single-family homes with an average household income of $141,000 per year within a three-mile radius of The Grand at 249, according to NewQuest. The Tomball Economic Development Corp. expects the city’s population to skyrocket from 12,000 to 20,000 by 2030.  

"The housing growth in the 249 corridor is booming," said Andrew Alvis, senior vice president and development partner of NewQuest. "The Grand at 249 will play a significant role in creating the next super-regional intersection in the Grand Parkway's path." 

Tomball’s growth and the rise of new developments is sparking commercial development in the area, including White Unicorn Investments’ 77-acre mixed-use center along the Grand Parkway in northwestern Harris County set to include retail, dining, multifamily and industrial space. 

“We recognize the immense potential of this location and are committed to developing a project that will be a testament community enhancement,” said Richard Buxbaum of White Unicorn Investments in a statement.  

Discover more about the rising projects and growth in Tomball

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