The Houston area continues to evolve. Amid the many development projects both planned and underway include the Osaka alleyway-inspired GreenStreet destination, a $12 million Downtown Main Street promenade project, and the mega entertainment and convention district in what city officials have described as the city’s largest development project in over 50 years.
But the developments aren’t just happening within the city; Magnolia in Montgomery County – which ranked the ninth-largest-growing country in the U.S. this past year – is poised to undergo a massive transformation via a $1 billion development.
From Tannos Development Group, the Friendswood-based company behind the Friendswood City Center, the development will see an overhaul of 200 acres between FM 1488 and FM 1774 for its Magnolia Town Center development project.
Early development concepts envision 400,000 square feet of versatile mixed-use space for hospitality and residential purposes; 250,000 square feet of retail offerings; and 200,000 square feet dedicated to medial offices and professional purposes.
Plans include a 350-unit apartment community, a mid-rise complex for senior living, a selection of single-family homes, several outparcel pad sites, premium amenities, and structured multilevel parking solutions.
“We’re not going to come up there and put 10-story glass buildings,” said CEO and President of Tannos Development Group, Louis Tannos. “We want this to be a community-friendly development … not just slap whatever on the ground that just goes vertical into the sky.”
The development also includes the construction of a high-end, nationally recognized hotel with a full-service restaurant, upscale bar, and expansive convention facilities accommodating up to 1,500 guests.
Among its proposed site plans are walkable shopping areas along the waterfront, three publicly-accessible lakes, and 30 acres of public green spaces.
As of now, the development is still in its early stages that has yet to reach the Magnolia City Council or Planning & Zoning Commission. If all goes to plan, Tannos Development Group will break ground Q1 2026 at the earliest with an anticipated completion date in early 2027.